Sarytogan Graphite (ASX: SGA) received AU$2.6 million in cash from the European Bank for Reconstruction and Development (EBRD) for its first tranche equity investment, according to a Friday filing with the Australian bourse.
The company will issue 16.5 million shares at AU$0.16 each, giving EBRD a 9.99% stake in the company, the filing said.
A second tranche, subject to approval from Australia's Foreign Investment Review Board (FIRB), will see the issue of 31.3 million shares at AU$0.16 each, raising the total equity investment to AU$5 million and increasing EBRD's stake in the company to 17.36%, the filing added.
The bank is also seeking approval from the FIRB to increase its stake to 19.99% over the next year.
The funds received will be used to support the milling of bulk samples in Kazakhstan, the testing of Sarytogan's Micro80C product for ductile cast-iron production, and the recruitment of key management positions.
The company's shares soared past 19% in recent Friday trade.
Price (AUD): $0.10, Change: $+0.02, Percent Change: +19.27%
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。