Terrible deal. Best case it values the graphite at $10M on paper for which LEL will recognise almost none of that value in its market cap going forward (look at SRK). Might as well just give it away for $5M cash which LEL desperately needs. LEL cap raise to be announced shortly. This looks like a sinking ship.
Ann: Merger & IPO Spin-Out of LEL and NVX Natural Graphite Assets, page-9
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