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DGAP-News: EcoGraf Limited / Key word(s): Miscellaneous
EcoGraf Commences Trading on US Markets
EcoGraf Limited (EcoGraf or the Company) (ASX: EGR; FSE:FMK; OTCQX: ECGFF) is pleased to advise that its application to join the OTCQX Market in the United States has been accepted and the Company's shares will now commence trading.
- EcoGraf will commence trading on the US OTCQX Market today (14 March 2021) at 9.00am (New York time) under the code ECGFF
- B. Riley Securities acted as the Company's OTCQX sponsor
The Company's primary listing continues to be the Australian Securities Exchange ("ASX") and its secondary listing through the Frankfurt Stock Exchange will continue.
The OTCQX market provides EcoGraf access to one of the largest investment markets in the world, the US, at nominal cost, with no additional compliance requirements, compared to traditional major exchanges.
This quotation is in response to the surging investor interest in the US for the electric vehicle sector and its supply chain, which has been recently stimulated by President Biden announcing plans to replace the US Government vehicle fleet with electric vehicles (EV's) and supporting the global shift to EV's.
The increased international interest in the sector is also in response to the European Commission foreshadowing new legislation to require greater recycling, visibility, and traceability of raw materials within the EV supply chain. An aspiration fully consistent with the Company's vertically integrated eco-friendly battery anode materials and recycling business for the lithium-ion battery markets.
Trading on the US Markets follows the successful A$54.6 million capital raising on 12 February 2021 that included cornerstone investments from US institutional investors, which fully funds the construction and commissioning of commercial operations of the initial production at the new EcoGraf(TM) Battery Anode Material Facility in Western Australia.
No new shares in the Company are being issued in connection with this quotation and existing ordinary shares of EcoGraf may now also be traded on the OTCQX Market and investors can find real-time quotes and market information on the OTC Markets website (www.otcmarkets.com/stock/ECGFF/overview). Depositary Trust Company (DTC) application for with electronic trading is in progress.
This announcement is authorised for release by Andrew Spinks, Managing Director.
For further information, please contact:
ENGINEERING CLEAN ENERGY.
EcoGraf is building a vertically integrated business to produce high purity graphite products for the lithium-ion battery and advanced manufacturing markets. Over US$30 million has been invested to date to create two highly attractive, development ready graphite businesses.
The first new state-of-the-art EcoGraf processing facility in Western Australia will manufacture spherical graphite products for export to Asia, Europe and North America using a superior, environmentally responsible HFfree purification technology to provide customers with sustainably produced high performance battery anode material. Subsequently, the battery graphite production base will be expanded to include additional processing facilities in Europe and North America to support the global transition to clean, renewable energy in the coming decade and the rapid growth in battery materials.
In addition, the Company's breakthrough recovery of carbon anode material from recycled batteries using its EcoGrafTM process will enable the recycling industry to reduce battery waste and use recycled carbon anode material to improve battery lifecycle efficiency.
To complement these battery graphite operations, the Company is also advancing the TanzGraphite natural flake graphite business, with development of the Epanko Graphite Project, which will supply additional feedstock for the battery anode material facilities and provide customers with a long term supply of high quality graphite products for industrial applications such as refractories, recarburisers and lubricants.
A video fly-through of this new facility is available online at the following link:
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14.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.