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DGAP-News EcoGraf Successfully Completes A$54.6 Million Institutional Placement to Accelerate Construction of Australian Battery Anode Material Facility

Nachrichtenquelle: EQS Group AG
12.02.2021, 12:15  |  131   |   |   

DGAP-News: EcoGraf Limited / Key word(s): Miscellaneous
EcoGraf Successfully Completes A$54.6 Million Institutional Placement to Accelerate Construction of Australian Battery Anode Material Facility

12.02.2021 / 12:15
The issuer is solely responsible for the content of this announcement.


Not for release to US wire services or distribution in the United States

EcoGraf Successfully Completes A$54.6 Million Institutional Placement to Accelerate Construction of Australian Battery Anode Material Facility

Capital raising positions EcoGraf to advance battery recycling opportunities and conduct preliminary siteworks for a 2nd battery anode material facility in Europe

Highlights

- Firm commitments received to raise A$54.6 million, with cornerstone investments from North American, German and Australian institutional investors.

- Strong institutional investor interest highlights EcoGraf's superior, environmentally responsible purification technology, providing customers with sustainably produced battery anode materials.

- EcoGraf is now fully funded to complete phase one construction of its Australian commercial-scale battery anode material purification facility.

EcoGraf Limited (EcoGraf or the Company) (ASX: EGR) is pleased to announce that it has received firm commitments to raise A$54.6 million (before costs) via a share placement to institutional, sophisticated and professional investors at A$0.60 per share, with approximately 91 million new fully-paid ordinary shares to be issued (Placement).

Canaccord Genuity acted as Lead Manager and Bookrunner to the Placement.

Cornerstone investment was provided by three significant institutional investors: a New York-based ESG fund, a German-based global fund manager and a leading Australian fund manager.

Proceeds of the Placement will be used to fund the following:

- Construction and operational commissioning of the first phase of the battery anode material purification facility in Western Australia;

- Advancement of the battery anode material recycling programs;

- Finalisation of debt financing arrangements for the Epanko graphite mine;

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DGAP-News EcoGraf Successfully Completes A$54.6 Million Institutional Placement to Accelerate Construction of Australian Battery Anode Material Facility DGAP-News: EcoGraf Limited / Key word(s): Miscellaneous EcoGraf Successfully Completes A$54.6 Million Institutional Placement to Accelerate Construction of Australian Battery Anode Material Facility 12.02.2021 / 12:15 The issuer is solely …

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