Australia markets closed
  • ALL ORDS

    7,649.30
    -32.00 (-0.42%)
     
  • ASX 200

    7,342.60
    -27.60 (-0.37%)
     
  • AUD/USD

    0.7262
    -0.0037 (-0.51%)
     
  • OIL

    73.95
    +0.65 (+0.89%)
     
  • GOLD

    1,750.60
    +0.80 (+0.05%)
     
  • BTC-AUD

    58,689.54
    -548.48 (-0.93%)
     
  • CMC Crypto 200

    1,067.20
    -35.86 (-3.25%)
     
  • AUD/EUR

    0.6192
    -0.0018 (-0.30%)
     
  • AUD/NZD

    1.0344
    +0.0031 (+0.30%)
     
  • NZX 50

    13,259.55
    -46.37 (-0.35%)
     
  • NASDAQ

    15,329.68
    +13.10 (+0.09%)
     
  • FTSE

    7,051.48
    -26.87 (-0.38%)
     
  • Dow Jones

    34,798.00
    +33.18 (+0.10%)
     
  • DAX

    15,531.75
    -112.22 (-0.72%)
     
  • Hang Seng

    24,192.16
    -318.82 (-1.30%)
     
  • NIKKEI 225

    30,248.81
    +609.41 (+2.06%)
     

Magnis Energy Technologies Limited (MNS.AX) Clarification of Announcement

  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
Magnis Energy Technologies Limited
Magnis Energy Technologies Limited

Magnis Energy Technologies Limited (MNS.AX) Clarification of Announcement

Sydney, Australia, Sep 9, 2021 - (ABN Newswire) - Magnis Energy Technologies Limited (ASX:MNS) (HAM:U1P) (OTCMKTS:URNXF) has been made aware of a discrepancy in an announcement made on 28 April 2021. The announcement was entitled "New Investment in C4V leads to Magnis Loan Repayment" ("the Announcement").

The Announcement reflected the Company's misunderstanding that Riverstone Credit Partners received a 3.5% interest in C4V as consideration for US$5 Million. Yesterday Magnis was informed and did confirm that Riverstone Credit Partners received the relevant 3.5% interest in C4V as part of the US$50 Million financing deal announced the previous week. In the other respects, the Announcement was accurate.

The Company notes the Announcement was sent to both C4V and Riverstone Credit Partners for comment prior to its release and received no substantive or corrective revisions and acted accordingly.

The Company has since been informed that the US$5 Million provided by iM3NY to C4V was used to settle an outstanding licensing fee of US$1 Million with the remaining funds being used to pay for future capex and services related to the iM3NY Battery Plant. To date over US$2 Million has been expensed with invoices being provided to iM3NY.


About Magnis Energy Technologies Limited:


Magnis Energy Technologies Limited (ASX:MNS) (OTCMKTS:URNXF) (FRA:U1P) aims to become a leading global producer of next-generation green credentialed Lithium-Ion Battery (LIB) cells, enabling the future energy requirements of the world, the global storage of renewable energy and electrification of transportation.

Leveraging off a world class graphite asset in Tanzania, associated production IP and a strategy partnership with US based Charge CCV, Magnis will manage an end to end supply chain, sourcing the raw materials and associated technologies for these cells.

Magnis has three core areas of focus which provide the Company with a strategic advantage; battery technologies, gigafactories and graphite.

Contact:

Frank Poullas
Executive Chairman
Ph: +61 2 8397 9888
www.magnis.com.au

Source:
Magnis Energy Technologies Limited

Copyright (C) 2021 ABN Newswire. All rights reserved.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting