Mason Graphite completes their 40% stake purchase in Nanoexplore
In January 2014, Canadian graphite mining company Mason Graphite announced that it acquired up to a 40% stake in NanoXplore for $700,000.
Yesterday Mason announced that it completed the second tranche of its investment in NanoXplore by investing $350,000 for an additional 20% interest in NanoXplore. As part of the agreement, Mason Graphite was appointed NanoXplore's sales, marketing and distribution agent.
Mason Graphite acquires 40% of NanoXplore for $700,000
Canadian graphite mining company Mason Graphite announced that it acquired up to a 40% stake in NanoXplore for $700,000. Mason Graphite will raise the funds from a fully subscribed (by the company's management and a major shareholder) private placement.
NanoXplore is an R&D company that is developing a graphene production method. NanoXplore makes graphene from graphite, and the deal also states that Mason Graphite will become the company's exclusive graphite supplier and also its sales distributor.