GREENVILLE, S.C., June 17, 2014 (GLOBE NEWSWIRE) -- Scio Diamond Technology Corporation ( Scio ) (OTCQB: SCIO) a leading manufacturer of lab-grown diamond for the gemstone and industrial marketplace, today announced the restructuring of its Board of Directors and appointment of an additional independent member. The restructuring reflects a desire for greater diversification of roles and responsibilities across the Board, and increased focus in several key areas. Bruce Likly, currently Principal of Kovak-Likly Communications will join the Board effective immediately and become and share Co-Chairman responsibilities with Edward Adams. This will bring the total number of Company Directors to six (6).
"The addition of Mr. Likly to Scio's Board of Directors as Co-Chairman brings a level of Board management expertise that will help develop greater company oversight, transparency and accountability," said Edward Adams, Scio's Co-Chairman. "Bruce has a strong track record of leading Boards and organizations through transition and growth and by adding his talents as Co-Chairman, the Company will be better positioned to deliver on the potential opportunities ahead of us."
Mr. Bruce Likly
Mr. Likly brings more than twenty-five (25) years of technology, communications and management experience to Scio. Having begun his career at IBM and worked to help grow Sun Microsystems from $1 Billion in sales to more than $10 Billion, Mr. Likly has spent the last decade as Principal at Kovak-Likly Communications where his team helps companies develop and implement strategic sales, marketing and communications plans. This work previously included assisting Apollo Diamond, the company whose assets Scio Diamond Technology Corporate acquired in 2011. Mr. Likly also currently serves as Chairman of the Board of Mutual Security Credit Union and the Wilton Public Schools Board of Education.
About Scio Diamond Technology Corporation
Scio employs a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting. These are known as "lab-grown" diamonds. Lab-grown diamonds have chemical, physical and optical properties identical to "earth-mined" diamonds. The Company's manufacturing process produces high-quality, high-purity, single-crystal colorless, near colorless and fancy colored diamonds.
Scio's technology offers the flexibility to produce lab-grown diamonds in size, color and quality combinations that are rare in earth-mined diamonds. Additionally, Scio is capable of producing diamonds that have the structural, optical and electronic characteristics for industrial, medical and semiconductor applications. For more information please visit the company website at www.sciodiamond.com .
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "may," "will," "should," "could," "would," "forecast," "potential," "continue," "contemplate," "expect," "anticipate," "estimate," "believe," "intend," "or "project" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company has no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.
Joe Cunningham (612) 991-1778
