VOLT TO ACQUIRE EUROPEAN GRAPHITE BUSINESS FOLLOWING COMPLETION OF DUE DILIGENCE
Highlights
- Acquisition of 70% of ZG Group proceeding to completion
- Due diligence by Volt appointed international and locally recognised consultants completed with Financial and Tax due diligence report by Deloitte Ukraine, the Legal and Commercial due diligence report by AVELLUM and the combined Technical due diligence report by Bilfinger Tebodin Ukraine (processing, engineering, capital projects, organisation) and Wardell Armstrong International (geology, mining, environment) received and accepted by the Volt board and management
- Volt to formally notify the Vendors that the transaction is now unconditional
- 10 business days from formal notification to settle the transaction and acquire the 70% interest in the ZG group
- ZG Group acquisition to transform Volt into one of the few ASX listed graphite producers
- The completion of the acquisition will position Volt significantly ahead of most of its peer graphite companies to become a graphite producer without the usual time and risk related to complete greenfield project financing, construction, commissioning and ramp up
- ZG Group planning to produce LIB anode material (SPG) to create the only European integrated mine and SPG producer
- ZG group graphite business produces a high value “green” purified 99.5%TGC product
It's been a looooooong wild ride, here's hoping this is the start of something brilliant for all of us patient holders. GLTAH
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