Brief: Graphex Group Says First Expansion Phase Expected to Complete in Q3 2024

Graphex

19/12/2023 11:36

Dec 19 (Reuters) - Graphex Group Ltd  6128.HK :
    * GRAPHEX GROUP PROVIDES IMPORTANT UPDATES ON ITS GLOBAL
MINE-TO-BATTERY SOLUTION, INCLUDING THE SEPARATION OF ITS US
SUBSIDIARY GRAPHEX TECHNOLOGIES LLC INTO A STANDALONE U.S.
COMPANY, AND FINANCING FOR A 200% PRODUCTION INCREASE OVER
CURRENT LEVELS
    * GRAPHEX GROUP LTD - GRAPHEX GROUP WILL BE SEPARATING ITS
U.S.
GRAPHITE PROCESSING ARM
    * GRAPHEX GROUP LTD: CURRENT GRAPHITE ANODE PRODUCTION
CAPACITY -
10,000 TPA
    * GRAPHEX GROUP LTD- FIRST EXPANSION PHASE EXPECTED TO
COMPLETE IN
Q3 2024 AND INCREASE CAPACITY BY 200% TO 30,000 TPA
    * GRAPHEX GROUP LTD - ADDITIONAL EXPANSION PLANS IN PLACE TO
REACH
OVER 100,000 TPA BEFORE 2030
    * GRAPHEX GROUP LTD: SECOND EXPANSION PHASE EXPECTED TO BE
COMPLETED BY END OF 2025 AND INCREASE CAPACITY BY AN ADDITIONAL
30,000 TPA TO 60,000 TPA
    * GRAPHEX GROUP LTD - ANTICIPATED STOCK CONSIDERATION OF
US$100
MILLION TO US$200 MILLION PAID BY A SPAC FROM BUSINESS
COMBINATION TRANSACTION
    * GRAPHEX GROUP: UPON COMPLETION OF TRANSACTION WITH
NASDAQ-LISTED
SPAC GRAPHEX TECH WILL BE ITS OWN, STAND-ALONE ENTITY
INDEPENDENT OF GRAPHEX GROUP

Source text for Eikon:  ID:nBw2zjSHXa 
Further company coverage:  6128.HK 

 ((Reuters.Briefs@thomsonreuters.com;))