Strategic Graphite seeks to raise $40m

The company is seeking a compliance listing on the ASX and is looking for financing from Singapore and UK funds.

Strategic Graphite Ltd plans to raise as much as $40 million in a share sale and an off take financing as it restarts production and seeks funds for a new plant at its South Australian graphite mine, discovered in the 1800s.

The company, which will change its name to Valence Industries Ltd, will seek a compliance listing on the ASX that will involve transferring its shares to a publicly listed register.

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