Alabama Graphite Announces Reporting of Financial Results for Fiscal 2017 and Provides Update
HIGHLIGHTS OF THE ACQUISITION
The Boards of Directors of Westwater and Alabama Graphite consider the Acquisition to be a compelling and fair transaction, which is expected to provide significant strategic and financial benefits to the shareholders of both companies. Key benefits of the Acquisition include: - The combination of Westwater’s in-house technical abilities and operational expertise in the production of a wide range of commodities with the mineral resources controlled by Alabama Graphite near Sylacauga, Alabama provides strategic corporate experience and stronger balance for a fast-track route to expected low-cost, specialized graphite intended to supply the existing and growing battery markets;
- Provides the shareholders of both companies with exposure to an extensive project portfolio consisting of near and mid-term resources to support the fast-growing transportation battery market through the near-term Coosa Graphite Project and the mid-term Westwater lithium exploration properties in Nevada and Utah, as well as long-term leverage to the expected rise in the uranium price with Westwater’s uranium property portfolio;
- Greatly improved access to and greater appeal for global equity capital markets through Westwater’s current listing on the NASDAQ; and
- Establishment of a strong platform to continue developing a leading energy materials, exploration and development business through both organic growth and/or further corporate transactions. For more information on Westwater, please visit www.westwaterresources.net.
Alabama Graphite shareholders will derive many benefits from the Acquisition, including: - Leverage the skills and know-how of Westwater’s experienced mining and operations teams;
- Benefits of a higher US profile through Westwater’s NASDAQ listing;
- Benefits of being an American company, advancing the only natural flake graphite project in the contiguous USA;
- Benefits from both diversification and product synergies related to Westwater’s lithium and uranium project portfolios; and
- Improved short-term and long-term funding capabilities and resourcefulness.
More information regarding the Acquisition will be available in an upcoming Information Circular, currently expected to be completed on or about the end of January 2018. The Corporation will report its first quarter (“Q1”) financial statements and the MD&A on January 29, 2018. http://www.minenportal.de/...ults-for-Fiscal-2017-and-Provides-Update target=
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