New Chief Executive Officer for Scio Diamond Technology Corp

Michael McMahon has been appointed as Chief Executive Officer of Scio Diamond Technology Corp.

Scio uses a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting.

McMahon, who has more than 30 years of senior management leadership experience, has served as the company's Chief Operating Officer since 2011.

Scio Chairman Ed Adams says: "Michael's leadership in designing, building, and starting up Scio's production facilities enabled Scio to now aggressively ramp production and revenue. His diverse skill set, international business experience, corporate governance expertise and business acumen are a great fit for the company.

His vision of mass production of diamonds for both the industrial and gemstone markets is clear, concise and focused. There is no doubt that Michael will lead Scio to being the most productive and efficient diamond operation in the world. More importantly, his strategic approach and previous experience in building successful partnerships will lead Scio to new markets that can exploit the power of diamonds as a disruptive material technology."

Michael McMahon comments: "The growth possibilities for Scio are immense … Our achievements to date in starting mass production are just the beginning. Our patented technology will enable us to continue our production ramp in the months ahead."