Presentation to General Meeting of Shareholders
Perth, April 7, 2017 AEST (ABN Newswire) - Graphitecorp Ltd (
ASX:GRA) Downstream Integration Update Presentation to General Meeting of Shareholders.
- Downstream integration into high value high growth battery materials market
- Acquisition of leading battery anode materials and battery cell testing technologies
- Production joint venture with leading USA-based anode materials development company - Coulometrics
- Acquisition of two-thirds interest in leading battery testing equipment and services company - NOVONIX
Institutional placement of loan notes to raise AUD $15.5 million
- GRA to establish PUREgraphite, an exclusive joint venture with Coulometrics (Dr Edward Buiel), a recognised leader in battery materials development and testing and, separately, acquire a two-thirds interest in NOVONIX, a leading battery testing equipment and services company (subject to pre-emptive rights) - GRA has commitments to place AUD $15.5 million of convertible notes to institutional and sophisticated investors
- Settlement will occur in two tranches (second tranche subject to shareholder approval)
- GRA's directors and their families have supported the placement (AUD $660,000 subscription)
Settlement
- 7 March 2017 - tranche 1 settlement ($7.7 million)
- 7 April 2017 - shareholder meeting (indicative)
- 10 April 2017 - tranche 2 settlement ($7.8 million)
PUREgraphite
- The PUREgraphite exclusive joint venture with Coulometrics established and operating in USA
- Meetings in the USA to refine the strategic and operational plans for PUREgraphite
- PUREgraphite CEO presents at the 34th International Battery Seminar in Florida, USA
- Equipment selection and supply arrangements nearing completion with orders expected to be placed this month
- Synthetic and natural graphite sourcing processes underway
NOVONIX
- Acquisition of two-thirds interest in NOVONIX confirmed with CATL waiving pre-emptive rights
- Meetings and factory visit with CATL in China
- Meetings in Canada to refine the strategic and operational plans for NOVONIX
- CATL supply agreement with NOVONIX to continue
- NOVONIX exhibition at the 34th International Battery Seminar in Florida, USA
- NOVONIX to establish high precision battery testing center in USA co-located with PUREgraphite and Coulometrics
To view the presentation, please visit:
http://abnnewswire.net/lnk/B6W887W9
About NOVONIX Limited
NOVONIX Limited (ASX:NVX) (FRA:GC3) (OTCMKTS:NVNXF) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14 countries. NOVONIX's mission is to support the global deployment of lithium-ion battery technologies for a cleaner energy future.
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