Magnis Energy Faces Challenges Amid Imperium3 Debt Issues

Magnis Energy Technologies Limited (AU:MNS) has released an update.

Magnis Energy Technologies Limited has addressed an ASX query about its relationship with Imperium3, which faced financial challenges after entering a $100 million secured debt. The removal of Magnis-appointed directors from Imperium3 and the subsequent suspension of Magnis’ shares have led to changes in control, affecting sales agreements and revenue generation. The company is working to clarify the status of its potential agreements with Energence and Martac, while maintaining communication with Imperium3’s directors.

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