Reported Earlier, NOVONIX Completes Due Diligence For Natural Graphite Merger With Axon Graphite
Portfolio Pulse from Benzinga Newsdesk
NOVONIX has completed due diligence for its merger with Axon Graphite. NOVONIX will divest its subsidiary MD South Tenements Pty Ltd, which holds the Mount Dromedary natural graphite exploration interests, to Axon Graphite Limited, a subsidiary of LEL. LEL will contribute its Burke and Corella graphite projects to Axon.
May 16, 2024 | 6:39 am
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NOVONIX has completed due diligence for its merger with Axon Graphite, involving the divestment of its subsidiary MD South Tenements Pty Ltd. This strategic move will allow NOVONIX to focus on its core operations while leveraging Axon's graphite projects.
The completion of due diligence and the divestment of non-core assets will likely be viewed positively by investors, as it allows NOVONIX to streamline its operations and focus on its primary business areas. The merger with Axon Graphite and the addition of LEL's projects could enhance NOVONIX's market position in the graphite sector.
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