Specialist graphite and graphene company Tirupati Graphite has raised £1.5-million in a private placement of convertible loan notes through its broker Optiva Securities as a first tranche of an overall £3-million capital raise.
The proceeds from this initial tranche will be used to fund the upfront cash payment obligation of A$1.5-million (£860 000) to Battery Minerals for the acquisition of Suni Resources – the Mozambique subsidiary of Battery Minerals holding the construction-initiated Montepuez project and advanced-stage Balama Central project.
Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India, with a vision of developing a world-leading benchmark flake graphite company.
