Lithium Energy Ltd (ASX:LEL) has completed the process of board selection for its proposed spin-off company, Axon Graphite Limited, which will encompass the merger of the high-grade natural graphite assets of Lithium Energy and NOVONIX Limited.
Peter Turnbull AM has been appointed non-executive chair, rounding out the board’s composition.
Turnbull has both senior executive and non-executive experience in publicly listed, private and government owned organisations, including senior positions in ASX Top 50 companies and ASIC.
The company believes he brings “significant commercial, legal and governance experience as well as an entrepreneurial focus on the commercialisation of leading-edge technologies and assisting earlier stage companies to plan and grow.”
Axon Graphite board
The Axon board now consists of Turnbull, NOVONIX nominees Anthony Bellas as executive director and Dr J. Christopher Burns as non-executive director, and Lithium Energy nominees Farooq Khan as executive director and William Johnson as non-executive director.
Additionally, Graham Fyfe has been appointed as CEO and Victor Ho as company secretary.
LEL is finalising Axon’s IPO (targeting $15 to $25 million) for lodgement with ASIC, with a timetable and priority entitlement offer details to be provided when available.
The Axon board intends to advance the company’s status from a graphite exploration and evaluation company into a graphite miner and battery anode material (BAM) producer.