Graphex Mining

A$11m Demerger and Initial Public Offering

June 2016

Graphex Mining Limited (Graphex) was incorporated by its parent company IMX Resources Limited (IMX) in January 2016, following a decision by the IMX Board to spin out its graphite assets.

On 15 March 2016, Graphex entered into an agreement with IMX Resources to acquire 100% beneficial ownership of five Prospecting Licenses in Tanzania, including the Chilalo Graphite Project.

On 4 April 2016, Graphex issued a prospectus offering up to 35 million shares to be issued at a price of A$0.20 per Share to raise A$7 million valuing Graphex at A$11 million.

Azure acted as financial adviser to IMX and Graphex and managed the end-to-end process for the company including initial advice on the transaction strategy and structure and appointment of lead managers to the issue.

The offer closed oversubscribed and Graphex successfully commenced trading 14 June 2016 with the share price closing at an 82.5% premium to the issue price.