Proposed Change of Company Name
Perth, June 8, 2017 AEST (ABN Newswire) - The Board of Graphitecorp Limited (
ASX:GRA) ("Graphitecorp" or "the Company") has resolved to seek shareholder approval for a change of the Company's name as it implements its downstream integration strategy aimed at supplying advanced battery materials, equipment and services to the global Lithium Ion Battery (LIB) market.
Key Points:
- Shareholder approval will be sought on 10 July 2017 to change the Company's name as it implements its downstream integration strategy aimed at supplying advanced battery materials, equipment and services to the global Lithium Ion Battery (LIB) market.
- With the completion of the acquisition of NOVONIX Battery Testing Services, Inc., a leading battery testing equipment and services company in North America, and the establishment of the PUREgraphite anode material Joint Venture in the USA, the Company has been transformed into a supplier of advanced battery materials, equipment and services to the global lithium ion battery market.
- The Company will continue to consider complementary opportunities in other downstream battery materials and services.
- Shareholder approval will therefore be sought on 10 July 2017 to change the Company's name to "NOVONIX Limited".
- The new name is proposed to facilitate an improved understanding of Graphitecorp's businesses and growth strategy while capitalising on the established 'NOVONIX' brand and providing a more generic name for its portfolio of inter-related business activities.
- If shareholders approve the change of name to 'NOVONIX Limited", the Company also intends to change its ASX ticker code from 'GRA' to 'NVX'.
The Company has today issued a Notice of Meeting to for a General Meeting of shareholders to be held on 10 July 2017 to consider, and, if in favour, pass a resolution to change the name of the Company to NOVONIX Limited.'
The Directors of Graphitecorp are unanimously recommending that shareholders vote in favour of the change of name to 'NOVONIX Limited".
If shareholders approve the change of name to 'NOVONIX Limited", the Company also intends to change its ASX ticker code from 'GRA' to 'NVX'.
The proposed change of name follows the announcement on 2 June 2017 of the completion of the acquisition of 100% of NOVONIX Battery Testing Services, Inc., a leading battery testing equipment and services company in North America spun-out of the Jeff Dahn laboratory at Dalhouse University. The founders and staff of NOVONIX have extensive expertise in the development and testing of battery materials.
The acquisition of NOVONIX, together with the company's PUREgraphite anode material production joint venture in the USA, has transformed the Company into an integrated supplier of advanced battery materials, equipment and services to the global LIB market. Through its downstream integration strategy, the Company is now supplying its proprietary high precision battery testing equipment and services to customers including Panasonic, Apple, 3M, Microsoft, CATL, Bosch and Dyson, as well as US and Global EV and battery manufacturers.
Earlier this month, NOVONIX launched its new 20 amp HPC testing system and is currently installing the first such unit within the facilities of a major global battery manufacturer. The Company's PUREgraphite Joint Venture in the USA is gearing-up to produce and supply of ultra-high purity anode material for EV-standard LIBs, based on the JV's proprietary technology and the exceptional comparative performance results achieved to date in highprecision battery testing.
The Company will continue to consider complementary opportunities in other downstream battery materials and services.
About NOVONIX Limited
NOVONIX Limited (ASX:NVX) (FRA:GC3) (OTCMKTS:NVNXF) is an integrated developer and supplier of high-performance materials, equipment and services for the global lithium-ion battery industry with operations in the USA and Canada and sales in more than 14 countries. NOVONIX's mission is to support the global deployment of lithium-ion battery technologies for a cleaner energy future.
| ||
|
