Lithium Energy Updates on Graphite Asset Merger and Axon Graphite Limited IPO

Lithium Energy Limited (ASX:LEL) has finalized its agreement with NOVONIX Limited (ASX:NVX) to acquire the Mt Dromedary Graphite Deposit, adjacent to its Burke Graphite Deposit in Queensland. Both companies have completed due diligence and will proceed with the merger.

NOVONIX appointees Admiral Robert Natter and Tony Bellas join the board of Axon Graphite Limited (proposed ASX code: AXG), alongside Lithium Energy Directors Farooq Khan and William Johnson. The IPO for Axon Graphite, expected to raise AU$15-AU$25 million, will be lodged within the next 4-6 weeks. An independent Chair will also be appointed. Further updates on the IPO schedule and board composition will be provided in the upcoming Prospectus.

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