Magnis Secures AU$10 million Equity Financing for Nachu Graphite Project

Magnis Energy Technologies Ltd (ASX: MNS) has entered a Capital Commitment Financing Agreement with New York-based Global Corporate Finance (GCF), securing an initial AU$10 million with an option to extend to AU$15 million. The funds will support working capital and the development of the Nachu Graphite Project. The agreement, pending shareholder approval, includes issuing shares at a minimum of AU$0.04 each and 20 million options at AU$0.06 per share with a four-year expiry. Key conditions include ASX share re-quotation and compliance with trading volume thresholds. GCF retains discretion over subscription volumes and may reduce them based on market conditions. A 1.5% commitment fee applies, payable in cash or shares. Magnis, a vertically integrated lithium-ion battery and materials company, aims to accelerate the green energy transition through electric mobility and renewable energy storage. The financing reinforces support for securing critical supply chains.

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