Grafoid Inc. Announces Retirement of CEO and Succession Plan

KINGSTON, Ontario, July 29, 2020 (GLOBE NEWSWIRE) -- Grafoid Inc. ("GRAFOID" or the "Company"), a global leader in the graphene products and applications market, announced today that Gary Economo, President and Chief Executive Officer, advised the Company that he will retire as President and CEO effective July 30, 2020.  Following his retirement, Mr. Economo will continue to serve as a director of the Company and will be available to provide ongoing input and support with respect to the Company's current and future graphene-based projects and applications.  The Board of Directors has commenced a search for a new President and CEO who has the expertise and track record to lead the company through the next phase of development.

Mr. Jeffrey York, Chairman of the Board stated, "On behalf of the Board of Directors, we would like to thank Gary for his leadership and outstanding achievements in conducting highly successful product launches and corporate development initiatives.  We congratulate Gary for his success and valuable contributions to Grafoid and look forward to hiring a new CEO to Grafoid to continue the ongoing growth and shareholder value creation as we embark on the next stages of product development."

Mr. Economo, President and CEO commented, "I wish to thank the Board of Directors, management, employees and our dedicated shareholders for all of the support you have provided to me.  I remain confident in the great potential and future of Grafoid's products and I believe this is the ideal time for me to step aside and allow my successor to continue Grafoid's product development of graphene-based products."

About Grafoid

Founded in 2011, Grafoid Inc. is a graphene research, development and investment company that invests in, manages and develops markets for processes that produce economically scalable graphene for use in graphene development applications by leading corporations and institutions. Grafoid's leading investment produces application friendly, minimal-defect, high-energy density few layer graphene, utilizing a safe, non-destructive extraction process, leaving the lowest possible ecological footprint. The completely unique, proprietary process results in what Grafoid regards as a new global standard for economically scalable, high-purity graphene products ? trademarked under the MesoGraftm trade name ? that can be tailored to both industrial and commercial applications.

Investor Contact:

Scott Anderson

Investor Relations

Phone:  (858) 229-7063

Email:  [email protected]