Mason Graphite Inc (TSX-V:LLG, OTCQX:MGPHF) has congratulated its graphene partner, Black Swan Graphene Inc, on its intention to go public through a binding letter of intent with capital pool company Dragonfly Capital Corp.
In connection with the transaction, it is anticipated that Black Swan will complete a concurrent financing to raise minimum gross proceeds of C$5 million by the issuance of common shares at a price of $0.15 per share.
“We are very proud to have Black Swan Graphene as a partner, which has now established itself amongst the leading graphene companies,” Mason Graphite executive director Peter Damouni said in a statement.
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“The potentially explosive growth of the graphene market remains difficult to fully grasp today, and from the onset, we have always liked Black Swan’s ultra low-cost processing technology and its industrial business approach focusing on rapidly accessible large volume markets, requiring large quantities of graphene and, in turn, requiring large quantities of graphite,” Damouni added.
Black Swan is expected to trade on the Toronto Venture exchange under the name Black Swan Graphene Inc.
As well, Mason Graphite announced the appointment of Paul Hardy as the company's new vice-president corporate development.
Hardy has 30 years of capital markets and private enterprise experience, more recently as the co-founder of Thorium Power Canada Inc.
Mason Graphite is dedicated to the production and transformation of natural graphite. Its strategy includes the development of value-added products, notably for green technologies like transport electrification. The company also owns 100% of the rights to the Lac Guéret graphite deposit, one of the richest in the world.
Contact Sean at sean@proactiveinvestors.com