Scio Diamond retains ICR, LLC to provide investor relations services

GREENVILLE, SC, Oct. 25, 2011 /PRNewswire/ - SCIO Diamond Technology Corporation (OTCBB: SCIO.OB) announced today that it retained ICR, LLC, as its investor relations firm.

Founded in 1998, ICR is a leading financial communications consulting firm that provides counsel from senior professionals with specific industry expertise.  ICR sets a new standard for financial communications with a business model driven by deep capital markets expertise provided by a team of former Wall Street and corporate professionals, including senior sell-side analysts, portfolio managers and investment bankers.  The firm represents approximately 300 corporate clients.

Gary T. Dvorchak, CFA, Senior Vice President at ICR, commented, "We are very excited to work with SCIO Diamond as the company embarks on a period of rapid development.  SCIO is poised to ramp a production technology that can transform the diamond industry, in both gemstone- and industrial-quality stones.  SCIO will benefit from increasing its exposure to major financial institutions, including sell-side analysts and portfolio managers focused on breakthrough technologies that can address large markets.  We are looking forward to SCIO presenting at our large investor conference, the ICR XChange, in early January in Miami."

Joseph D. Lancia, CEO of SCIO Diamond said, "We are pleased to be partnering with ICR in our investor relations efforts.  We believe we have the potential to transform our industry with our high volume production technology for Lab Grown diamonds.  The investment opportunity should be of great interest to the financial community.  We look forward to leveraging ICR's relationships with capital market participants to enhance our visibility and raise additional capital for our growth plan."

About SCIO Diamond

SCIO Diamond Technology developed and is ramping up an advanced process for volume manufacturing of large, single-crystal diamonds in a controlled process reactor environment.  The company's technology is based on a chemical vapor deposition ("CVD") diamond growth system.  SCIO Diamond has thirteen patents (10 US [9 issued; 1 claim allowed]; 1 Australian; 2 China) related to its technology with approximately forty (40) domestic and foreign patents pending.  SCIO is building its first commercial scale fab in Greenville, SC.

About ICR

ICR is a leading financial communications firm specializing in investor relations and corporate communications.  Established in 1998, ICR represents more than 300 companies and has significant industry expertise and relationships in the resources sector.  ICR maintains offices in Norwalk, CT, New York, Los Angeles, San Francisco, Boston and Beijing and is one of the industry's fastest growing consultancies.  www.icrinc.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including the Company's beliefs about its business prospects and future results of operations. Some factors that could cause actual results to differ materially include economic and operational risks, changes in anticipated earnings, continuation of current contracts, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Forms 10-KSB and 10-QSB. The Company forecasts provided above are dynamic and therefore refer only to this release date. The Company does not undertake to update any forecasts that it may make available to the investing public.

SOURCE Scio Diamond

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