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Reported Earlier, NOVONIX And Lithium Energy To Combine Natural Graphite Interests With Intention To Take Combined Business Public

Author: Benzinga Newsdesk | April 03, 2024 02:49am

NOVONIX Limited ("NOVONIX") and Lithium Energy Limited ("LEL") to contribute their natural graphite exploration interests into a new company, Axon Graphite Limited ("Axon")
Shares of Axon to be offered through an initial public offering ("IPO") and listed on the Australian Securities Exchange ("ASX")
NOVONIX and LEL each will retain up to 28.57% ownership of Axon following the planned IPO
Creates world class, large-scale natural flake graphite project
Realises value for the shareholders of both NOVONIX and LEL
Eligible NOVONIX and LEL shareholders to be given priority in the IPO

Posted In: NVX