Valence Industries Ltd

Valence Industries (ASX:VXL) was listed on the ASX on 6 January 2014 raising capital of AUD$10.1M at listing and in a shortfall placement

Consistent with its development pathway, Valence Industries (ASX:VXL) is pleased to announce that it has signed the first agreement for the sale of graphite from its Uley Graphite facilities in regional South Australia. This is the first sale of graphite by an Australian manufacturer for over 20 years and marks a significant milestone for the Company.

Valence Industries Limited (ASX:VXL) provides the following update on the share sale facility for holders of less than marketable parcels of the Company's shares.

Valence Industries Limited (ASX:VXL) is pleased to announce that its first graphite is currently being bagged. These graphite products are being readied for intended export to customers in the Asia Pacific region.

Valence Industries Limited (ASX:VXL) announces that the sale of foreign holdings resulting from the demerger of the Company from its former parent, Strategic Energy Resources Limited (ASX:SER) has been completed - Valence was named Tarcoola Gold Limited at that time.

Valence Industries Limited (ASX:VXL) is continuing its program of bringing its existing graphite manufacturing facilities off care and maintenance and to bring those facilities to full production of 14,000 tonnes per year over the coming months (Phase 1).

Valence Industries Limited (ASX:VXL) is pleased to advise that the recommissioning of its Uley Graphite manufacturing facilities near Port Lincoln in South Australia is progressing as planned. Initial production is expected to commence in late March 2014, ahead of schedule.

During the six month period to 31 December 2013, Valence Industries (ASX:VXL) raised $1,000,000 in capital to enable it to undertake the activities required to list on the Australian Securities Exchange (ASX).

Valence Industries Limited (ASX:VXL) (VXL or the Company) would like to advise that it will be implementing a share sale facility of fully paid ordinary shares for shareholders who hold less than a Marketable Parcel of shares in the Company (Share Sale Facility).

Valence Industries Limited (ASX:VXL) is pleased to announce that it has successfully placed the remainder of the shortfall available under the recent rights issue undertaken by the Company.