International Graphite Limited (AU:IG6) has released an update.
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International Graphite Limited has successfully completed its Share Purchase Plan (SPP), raising $0.4M in addition to a prior $3.0M from institutional and sophisticated investors. Approximately 3.4M new shares were issued to eligible shareholders at $0.125 each, with the proceeds aimed at advancing the Springdale Graphite Project, battery anode feasibility studies, and general working capital. The company is an emerging supplier of graphite products, poised to serve the electric vehicle and renewable energy sectors with its wholly Australian-based operations.
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