Quarterly Activities Report
Sydney, April 28, 2023 AEST (ABN Newswire) - Magnis Energy Technologies Ltd (ASX:MNS) (U1P:FRA) (MNSEF:OTCMKTS) is pleased to present its Quarterly Activities Report and overview of operations for the period ended 31st March 2023 ("Quarter", "Reporting Period").
- Signed offtake with Tier 1 OEM EV manufacturer underpinning the Anode Active Materials (AAM) and Nachu projects
- Shortlisted sites identified for the AAM facility and indicative proposals received from landlords
- Finalisation of selection and commercial negotiations with engineering and project services firm to support the design and engineering of the AAM facility
- Fund raising completed via a Pre-Payment Subscription Agreement for $25m in Tranche 1 and the potential for a further $25m in Tranche 2
- Local Tanzanian firms engaged to assist the financial and legal advisers with international transactional experience in the mining and metals industry in Africa to further the fund raising for the Nachu Graphite Project
- Detailed negotiations on the final framework agreement continued with the Government of Tanzania
- Magnis' Lithium-ion battery manufacturing facility operated by Imperium3 New York Inc ("iM3NY") continued the external certification (UN38.3) process to allow for transportation of cells in large quantities.
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About Magnis Energy Technologies Limited
Magnis Energy Technologies Limited (ASX:MNS) (OTCMKTS:MNSEF) (FRA:U1P) is involved in and has strategic investments in several aspects of the electrification supply chain including manufacturing of green credentialed lithium-ion battery cells, leading edge battery technology and high quality, high performance anode materials. The company's vision is to enable, support and accelerate the green energy transition critical for the adoption of Electric Mobility and Renewable Energy Storage.