Lithium Energy to Spin Out Graphite Unit Axon Graphite; Finalizes Appointment of CEO, Company Secretary

MT Newswires Live07-26

Lithium Energy (ASX:LEL) announced the spin-out of its graphite unit Axon Graphite, which will trade on the Australian Securities Exchange under the stock ticker AXG.

Axon Graphite will be a merger of Lithium Energy's high-grade natural graphite assets and battery technology company Novonix (ASX:NVX), Lithium Energy said in a Friday filing with the Australian bourse.

Axon Graphite appointed Graham Fyfe as chief executive officer and Victor Ho as company secretary. Fyfe is currently the general manager of projects at Lithium Energy while Ho is the company secretary of Lithium Energy, it said.

Shares of Novonix increased more than 1% in recent trade.

Price (AUD): $0.37, Change: $+0.01, Percent Change: +1.37%

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