Latest news with #RightsOffering
Yahoo
01-08-2025
- Business
- Yahoo
Angel Oak Financial Strategies Income Term Trust Declares August 2025 Distribution
ATLANTA, August 01, 2025--(BUSINESS WIRE)--Angel Oak Financial Strategies Income Term Trust (the "Fund"), a closed-end fund traded on the New York Stock Exchange under the symbol FINS, today declared a distribution of $0.115 per share for the month of August 2025, equating to an approximate 10% distribution on NAV. FINS intends to maintain its level distribution policy at the new higher distribution rate. The record date for the distribution is August 15, 2025, and the payable date is August 29, 2025. The Fund will trade ex-distribution on August 15, 2025. FINS increased the monthly distribution from $0.109 to $0.115 given the benefit to the Fund from higher coupon investments as Angel Oak Capital Advisors fully optimizes the portfolio into a robust primary issuance market following the recent Rights Offering. Angel Oak Capital Advisors' investment team rapidly deployed proceeds from the Rights Offering into money center and regional bank debt to eliminate cash drag. With the acceleration in the community bank debt issuance calendar, the team has re-deployed approximately half of the proceeds into higher-coupon community bank bonds (average coupon 7.68%, range: 7.00%-9.00%). Coupons on the new bonds are over 100 basis points higher than the Fund's average coupon of 6.51%, as of June 30, 2025. The near-term issuance pipeline remains robust. In addition to the immediate benefit from accretively deploying the new capital, the team believes several factors offer additional upside to NAV in the current environment: Positive tailwinds from strong banking sector fundamentals: Recent second quarter bank earnings highlighted strong credit, improving net interest margins and stronger loan growth. Legacy portfolio benefits from approaching call dates: Over $100 million of fixed rate bank debt in the portfolio will transition from fixed to floating rate over the next 24 months as the bonds enter their call period, resulting in higher coupons (based on current SOFR) and/or the bonds getting called and refinanced by the issuer. Increased M&A activity: Traditionally an alpha generator to the strategy, M&A activity has been accelerating in 2025 under a more favorable regulatory environment. Although the Fund seeks to pay a distribution at a rate that is representative of net investment income actually earned, a portion of each distribution may be treated as paid from sources other than net investment income, including, to the extent permitted by law, short-term capital gain, long-term capital gain, or return of capital. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to shareholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income. The final determination of the source and tax characteristics of these distributions will depend upon the Fund's investment experience during its fiscal year and will be made after the Fund's year end. The Fund will send to investors a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes. ABOUT FINS Led by Angel Oak Capital Advisors' experienced financial services team, FINS invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of FINS' portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak Capital Advisors. ABOUT ANGEL OAK CAPITAL ADVISORS, LLC Angel Oak Capital Advisors is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak Capital Advisors seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit. Information regarding the Fund and Angel Oak Capital Advisors can be found at Past performance is neither indicative nor a guarantee of future results. Investors should consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information please contact your investment representative or Destra Capital Advisors LLC at 877.855.3434. © 2025 Angel Oak Capital Advisors, which is the investment adviser to the Angel Oak Financial Strategies Income Term Trust. View source version on Contacts Media:Trevor Davis, Gregory FCA for Angel Oak Capital Advisors443-248-0359trevor@ Company Contact:Randy Chrisman, Chief Marketing & Corporate IR Officer, Angel Oak Capital Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
01-08-2025
- Business
- Business Wire
Angel Oak Financial Strategies Income Term Trust Declares August 2025 Distribution
ATLANTA--(BUSINESS WIRE)--Angel Oak Financial Strategies Income Term Trust (the 'Fund'), a closed-end fund traded on the New York Stock Exchange under the symbol FINS, today declared a distribution of $0.115 per share for the month of August 2025, equating to an approximate 10% distribution on NAV. FINS intends to maintain its level distribution policy at the new higher distribution rate. The record date for the distribution is August 15, 2025, and the payable date is August 29, 2025. The Fund will trade ex-distribution on August 15, 2025. FINS increased the monthly distribution from $0.109 to $0.115 given the benefit to the Fund from higher coupon investments as Angel Oak Capital Advisors fully optimizes the portfolio into a robust primary issuance market following the recent Rights Offering. Angel Oak Capital Advisors' investment team rapidly deployed proceeds from the Rights Offering into money center and regional bank debt to eliminate cash drag. With the acceleration in the community bank debt issuance calendar, the team has re-deployed approximately half of the proceeds into higher-coupon community bank bonds (average coupon 7.68%, range: 7.00%-9.00%). Coupons on the new bonds are over 100 basis points higher than the Fund's average coupon of 6.51%, as of June 30, 2025. The near-term issuance pipeline remains robust. In addition to the immediate benefit from accretively deploying the new capital, the team believes several factors offer additional upside to NAV in the current environment: Positive tailwinds from strong banking sector fundamentals: Recent second quarter bank earnings highlighted strong credit, improving net interest margins and stronger loan growth. Legacy portfolio benefits from approaching call dates: Over $100 million of fixed rate bank debt in the portfolio will transition from fixed to floating rate over the next 24 months as the bonds enter their call period, resulting in higher coupons (based on current SOFR) and/or the bonds getting called and refinanced by the issuer. Increased M&A activity: Traditionally an alpha generator to the strategy, M&A activity has been accelerating in 2025 under a more favorable regulatory environment. Although the Fund seeks to pay a distribution at a rate that is representative of net investment income actually earned, a portion of each distribution may be treated as paid from sources other than net investment income, including, to the extent permitted by law, short-term capital gain, long-term capital gain, or return of capital. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to shareholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income. The final determination of the source and tax characteristics of these distributions will depend upon the Fund's investment experience during its fiscal year and will be made after the Fund's year end. The Fund will send to investors a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes. ABOUT FINS Led by Angel Oak Capital Advisors' experienced financial services team, FINS invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of FINS' portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak Capital Advisors. ABOUT ANGEL OAK CAPITAL ADVISORS, LLC Angel Oak Capital Advisors is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak Capital Advisors seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit. Information regarding the Fund and Angel Oak Capital Advisors can be found at Past performance is neither indicative nor a guarantee of future results. Investors should consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information please contact your investment representative or Destra Capital Advisors LLC at 877.855.3434. © 2025 Angel Oak Capital Advisors, which is the investment adviser to the Angel Oak Financial Strategies Income Term Trust.
Cision Canada
31-07-2025
- Business
- Cision Canada
SPC Nickel Closes $3.5 Million Rights Offering Backstopped by Dundee Corporation
SUDBURY, ON, /CNW/ - SPC Nickel Corp. (TSXV: SPC) (" SPC" or the " Corporation") and Dundee Corporation (TSX: DC.A) are pleased to announce the closing of SPC's previously announced rights offering (the " Rights Offering"), pursuant to which the Corporation issued rights (" Rights") to the holders of its common shares (the " Common Shares") at the close of business (Toronto time) on June 24, 2025. The Corporation issued 175,000,000 Common Shares at a subscription price of $0.02 per Common Share for aggregate gross proceeds of $3,500,000. The net proceeds of the Rights Offering will be used to conduct the first modern airborne geophysical surveys in over 20 years on the Corporation's 470 km 2 polymetallic Muskox property and the advancement of the West Graham Deposit via a series of environmental, geotechnical and metallurgical studies. In addition, the Corporation plans to evaluate a number of very high conductivity electromagnetic targets on the broader Lockerby East property for high-grade polymetallic sulphide mineralization. The remainder of the proceeds will be used for general corporate purposes. In connection with the Rights Offering, the Corporation entered into a standby purchase and investor rights agreement dated June 11, 2025 (the " Standby Commitment Agreement") with Dundee Resources Limited (the " Standby Purchaser"), a wholly-owned subsidiary of Dundee Corporation, pursuant to which the Standby Purchaser agreed, subject to certain terms and conditions, to exercise its basic subscription privilege and additional subscription privilege in respect of any Rights it holds, and, in addition thereto, to acquire any additional Common Shares available as a result of any unexercised Rights under the Rights Offering (the " Standby Commitment"), such that the Corporation was, subject to the terms of the Standby Commitment Agreement, guaranteed to issue 175,000,000 Common Shares in connection with the Rights Offering. The Corporation issued a total of 93,963,117 Common Shares under the basic subscription privilege and 15,987,389 Common Shares under the additional subscription privilege. The Standby Purchaser acquired a total of 31,468,238 Common Shares under its basic subscription privilege. Pursuant to the Standby Commitment, the Standby Purchaser acquired an additional 65,049,494 Common Shares under the Standby Commitment Agreement at a subscription price of $0.02 for aggregate gross proceeds to the Corporation of $1,300,989.88. To the knowledge of the Corporation, after reasonable inquiry, no person that was not an insider of SPC before the distribution under the Rights Offering became an insider as a result of the distribution under the Rights Offering. To the knowledge of the Corporation, after reasonable inquiry, insiders, directors and officers of the Corporation before the distribution under the Rights Offering, which includes the Standby Purchaser, as a group, acquired 33,359,576 Common Shares under the basic subscription privilege and 1,306,321 Common Shares under the additional subscription privilege for an aggregate of 34,665,897 Common Shares acquired under the Rights Offering, representing total subscription proceeds of $693,317.94. Other persons, as a group, acquired 60,603,541 Common Shares under the basic subscription privilege and 14,681,068 Common Shares under the additional subscription privilege for an aggregate of 75,284,609 Common Shares acquired under the Rights Offering, representing total subscription proceeds of $1,505,692.18. As consideration for the Standby Commitment, the Corporation issued to the Standby Purchaser 16,262,374 non-transferable compensation warrants (the " Compensation Warrants"). Each Compensation Warrant entitles the Standby Purchaser to purchase one (1) Common Share at a price of $0.05 per Common Share for a period of 60 months from the date of issuance. Immediately following the closing of the Rights Offering, there are 368,053,825 Common Shares issued and outstanding. No fees or commissions were paid in connection with the solicitation of the exercise of Rights under the Rights Offering. The participation in the Rights Offering by certain "related parties" of the Corporation, namely the Standby Purchaser, certain directors and senior officers, under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101") is exempt from the related party transaction rules pursuant to section 5.1(k)(ii) of MI 61-101. The Common Shares issuable upon exercise of the Rights have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Corporation. There shall be no offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of such securities under the laws of any such jurisdiction. The Rights Offering remains subject to the final approval of the TSX Venture Exchange (the " Exchange"). Early Warning Disclosure Prior to the Rights Offering, the Standby Purchaser and its affiliates owned, and exercised control and direction over, 34,714,650 Common Shares and share purchase warrants exercisable for the issuance of an additional 3,000,000 Common Shares (the " Warrants"), representing an approximately 17.98% interest in the Corporation on a undiluted basis and an approximately 19.24% interest in the Corporation on a partially diluted basis (assuming the full exercise of the Warrants). Immediately following completion of the Rights Offering, the Standby Purchaser and its affiliates own, and exercise control and direction over, an aggregate of 131,232,382 Common Shares (comprised of an aggregate of 34,714,650 Common Shares held at the time of announcement of the Rights Offering, an aggregate of 31,468,238 Common Shares acquired pursuant to the exercise of Rights pursuant to the Rights Offering, and an aggregate of 65,049,494 Common Shares acquired pursuant to the Standby Commitment) and share purchase warrants exercisable for the issuance of an additional 19,262,374 Common Shares (inclusive of the Warrants and the Compensation Warrants), representing an approximately 35.66% interest in the Corporation on a undiluted basis, and an approximately 38.86% interest in the Corporation on a partially-diluted basis (assuming the full exercise of the 3,000,000 Warrants and 16,262,374 Compensation Warrants). The Standby Purchaser acquired the securities of SPC for investment purposes only. The Standby Purchaser intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of SPC, subsequent developments affecting SPC or its business, and the general market and economic conditions. Based upon these and other factors, the Standby Purchaser may decide to purchase additional securities of SPC or may decide in the future to sell all or part of its investment. This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. The early warning report with respect to the acquisition will be filed on the System for Electronic Data Analysis and Retrieval+ at under SPC's profile. To obtain a copy of the early warning report filed by the Standby Purchaser, please contact: Dundee Corporation, Legal Department, 80 Richmond Street West, Suite 2000, Toronto, Ontario M5H 2A4, Tel: (416) 365-5172. About SPC Nickel Corp. SPC Nickel Corp. is a Canadian public corporation focused on exploring for Ni-Cu-PGMs within the world class Sudbury Mining Camp and in Nunavut. SPC Nickel is currently exploring its key 100% owned exploration project Lockerby East located in the heart of the historic Sudbury Mining Camp that includes the West Graham Resource and the LKE Resource. SPC Nickel also holds two additional projects across Canada consisting of the large camp-scale Muskox Project (located in Nunavut) and the past producing Aer-Kidd Project (located in the Sudbury Mining Camp). The Company continues to look for new opportunities to add shareholder value. About Dundee Corporation: Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol "DC.A". Through its operating subsidiaries, Dundee Corporation is an active investor focused on delivering long-term, sustainable value as a trusted partner in the mining sector with more than 30 years of experience making accretive mining investments. Caution Regarding Forward-Looking Statements: Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 - Continuous Disclosure Obligations of the Canadian Securities Administrators. These statements and information are based on facts currently available to the Corporation and there is no assurance that actual results will meet management's expectations. Forward-Looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could", "intends", "entitles", or "would". While the Corporation considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The forward- looking statements in this news release include, without limitation, statements with respect to the intended use of proceeds from the Rights Offering, Dundee's plans for its investment in the Corporation, and the final approval of the Rights Offering from the Exchange. All forward-looking information contained in this press release is given as of the date hereof, and is based on the opinions and estimates of management and information available to management as of the date hereof. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE SPC Nickel Corp.
Business Wire
25-07-2025
- Business
- Business Wire
Empire Petroleum Announces Extension of Previously Announced Rights Offering and Clarifies Unit Subscription Price
TULSA, Okla.--(BUSINESS WIRE)--Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, announced today that it has extended the expiration date and clarifies the unit subscription price of its previously announced subscription rights offering ('Rights Offering') pursuant to which it intends to raise gross proceeds of up to approximately $5.0 million, including $2.5 million from the exercise of the warrants issued as part of the Rights Offering. The Company is distributing at no charge to holders of its common stock, par value $0.001 per share ("Common Stock"), as of the close of business on July 10, 2025 (the record date for the Rights Offering), one subscription right for each share of Common Stock held. Each subscription right entitles the holder to purchase one unit at a subscription price of $0.07367 per unit, each unit consisting of 0.0139 shares of Common Stock and one warrant exercisable for 0.0136 shares of Common Stock at $5.46 per whole share. As a result, a stockholder must hold at least 72 shares of Common Stock to receive subscription rights to purchase at least one whole share at $5.30 per share, as well as at least 74 shares of Common Stock to receive warrants to purchase one whole share at $5.46 per share. The subscription rights and warrants are non-transferable, and will not be listed for trading on any stock exchange or market. In addition, holders of subscription rights who fully exercise their subscription rights are entitled to over-subscribe for additional units, subject to proration. For example, if you owned 100 shares of our Common Stock on the record date, you would be granted subscription rights to purchase an aggregate of 1.39 shares of Common Stock and warrants exercisable for 1.36 shares of Common Stock at the subscription price. If you are entitled to receive a fraction of a share, we will round down the number of shares to which you are entitled to purchase to the nearest whole number. As such, for the above example, you would receive 1 share of Common Stock and 1 warrant due to rounding. The Rights Offering is now expected to expire at 5:00 p.m., Eastern Time, on August 18, 2025 ('Expiration Date'), subject to extension or earlier termination. The Company has extended the expiration date in order to allow its stockholders to have more time to consider their participation and arrange finances for the Rights Offering. We had previously set the subscription price at $5.30 per unit, but adjusted the subscription price to $0.07367 per unit to more accurately reflect the intended terms of the offering. Phil E. Mulacek, Chairman of the Board of Empire and one of the Company's largest shareholders, has indicated that he intends to participate in the Rights Offering and fully subscribe to the units corresponding to his subscription rights. He has also indicated that he intends to fully exercise his over-subscription rights to purchase his pro rata share of the underlying securities related to the Rights Offering that remain unsubscribed at the Expiration Date. Holders of subscription rights who hold their shares directly have received a prospectus, a prospectus supplement, a letter from Empire describing the Rights Offering, and a subscription rights certificate. Empire will also be providing an additional prospectus supplement regarding the updated terms noted in this news release. Those holders who intend to exercise their subscription rights and over-subscription rights should review all of these materials, properly complete and execute the subscription rights certificates, and deliver the subscription rights certificates and full payment to Securities Transfer Corporation, the subscription agent for the Rights Offering, at the address set forth in the prospectus supplements referenced below. The Rights Offering is more fully described in the prospectus supplement filed with the Securities and Exchange Commission ('SEC') on July 10, 2025, as supplemented by the prospectus supplements filed with the SEC on July 24, 2025 and July 25, 2025. A copy of the prospectus, prospectus supplements or further information with respect to the Rights Offering may be obtained by contacting Securities Transfer Corporation, the subscription and information agent for the Rights Offering, at (469) 633-0101. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. About Empire Petroleum Empire Petroleum Corporation is a publicly traded, Tulsa-based oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana. Management is focused on organic growth and targeted acquisitions of proved developed assets with synergies with its existing portfolio of wells. More information about Empire can be found at Safe Harbor Statement This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company's estimates, strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2024, and its other filings with the SEC. Readers and investors are cautioned that the Company's actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company's ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and other risks and uncertainties related to the conduct of business by the Company. Other than as required by applicable securities laws, the Company does not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations, or otherwise.
Yahoo
15-05-2025
- Business
- Yahoo
NYSE American Delisting Action Has No Effect on the Trading of the Ordinary Shares on the Stock Exchange of Hong Kong
Hong Kong, May 15, 2025 (GLOBE NEWSWIRE) -- Graphex Group Limited ('Graphex Group' or the 'Company') (HKSE: 6128)) announced today that the NYSE American LLC (the 'New York Exchange') has issued a delisting letter for its American Depositary Shares (ADSs) and suspended trading with the symbol 'GRFX' as of May 14, 2025. As previously reported, the Company is not in compliance with Sections 134 and 1101 of the NYSE American Company Guide ('Company Guide') since it failed to timely file with the Securities and Exchange Commission ('SEC') its Form 20-F for the year ended December 31, 2023 (the 'Delayed Filing') and that the period granted by the New York Exchange to complete the Delayed Filing was May 15, 2025. The ADSs will now trade on the OTC Expert Market operated by the OTC Markets Group, Inc. The OTC Expert Market is a significantly more limited market than the NYSE, and quotation on the OTC Expert Market will likely result in a less liquid market for existing and potential holders of the ADS and could depress the trading price. The Company can provide no assurance that the ADS will trade or continue to trade on this market, whether broker-dealers will provide public quotes, or whether the trading volume will be sufficient to provide for an efficient trading market. The ordinary shares of Graphex Group will continue to trade on The Stock Exchange of Hong Kong Limited. Trading of the ordinary shares on the HKSE is not affected. Additionally, there is no effect on the closing of the previously reported Rights Offering or our business operations. As of May 13, 2025, there are approximately 51,605,000 outstanding ADSs representing approximately 5.5% of the ordinary shares that are issued and outstanding, after giving effect to the closing of the Rights Offering. Graphex Group was not able to remedy the Delayed Filing by May 15, 2025 in large part because the financial audit by a PCAOB registered audit firm for the fiscal year has not been completed. As previously reported in its Report on Form 6-K filed March 4, 2025, Graphex Group engaged SFAI MALAYSIA PLT ('SFAI') to serve as its new independent PCAOB registered public accounting firm for its U.S. GAAP consolidated financial statements. Graphex Group continues to work with this audit firm to complete this audit but was not able to complete the audit by May 15, 2025. There are no disagreements with this audit firm with respect to the financial statements. Graphex Group continues to work with this audit firm and expects that the audits and the annual reports on Form 20-F for fiscal years 2023 and 2024 will be completed on or about June 30, 2025, which is approximately 90 days after SFAI was appointed as the Company's PCAOB registered audit firm. Graphex Group complies fully with the HKSE listing obligations, including the timely filing of an audit of its financial statements prepared in accordance with International Financial Reporting Standards (IFRS) by Crowe (HK) CPA. These financial statements as well as the annual reports for Graphex Group have been filed with Commission on Reports on Form 6-K and are available at Graphex Group recommends that investors review the current financial information that is available through its filings with the HKSE. The Company has the right to appeal the determination of the staff of the Regulation of the New York Exchange and the Company is considering such action. If the Company is successful in any such appeal, the New York Exchange may resume trading of the ADS; however until such time, trading will remain suspended. There is no assurance that any such appeal will be successful or the ADSs will be relisted on the New York Exchange. About Graphex Graphex is a multinational technology company focused on the development of technologies and products to enhance renewable energy, particularly the refining of natural spherical graphite, synthetic graphite, and graphene-related products - key components in EVs/Lithium-ion batteries as well as in other uses. Graphex has extensive commercial experience in the deep processing of graphite and producing battery grade graphite anode material. Current production is 10,000 tonnes per annum (tpa) with a current expansion underway to increase production to 50,000 tpa within the next 18 months, to 100,000 tpa over the next 36 months, and to 150,000 tpa or more by 2030. Graphex is currently among the top suppliers of specialized graphite anode material to the EV and renewable energy industries and holds patents in areas including products, production methods, machinery design, and environmental protection. Graphex's strategy is to expand its operations globally to support energy transition and electrification efforts worldwide. To learn more about Graphex please visit Forward Looking Statements All statements contained in this presentation other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans and our objectives for future operations, are 'forward looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 and the safe harbor in Section 27A and 21E of the Securities Act of 1933 and the Securities Exchange act of 1934, respectively. You can identify some of these forward looking statements by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'likely,' 'potential,' 'continue' or other similar expressions. We have based these forward looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short term and long-term business operations and objectives, and financial needs. These forward looking statements involve various risks and uncertainties. Contacts Corporate:Graphex Groupinfo@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
