Australia's First Graphene rises on distribution deal with S.African firm

First Graphene

17/03/2022 02:55

** Shares of First Graphene Ltd  FGR.AX  rise as much as
6.1% to A$0.175, their highest level since March 4 
    ** The graphene-maker says it has signed a distribution
agreement with South Africa's Nanoproof Glade Chemical  
 urn:newsml:reuters.com:*:nFWN2VJ113 
    ** Says agreement to expand sales of its flagship graphene
product PureGRAPH, across multiple markets in South Africa, with
particular focus in concrete segment 
    ** Co says the four-year agreement is expected to generate
sales between A$250,000 and A$280,000 in the first year
    ** Stock down 21.4% this year, as of last close

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))