Canadian graphite mining company Mason Graphite announced that it acquired up to a 40% stake in NanoXplore for $700,000. Mason Graphite will raise the funds from a fully subscribed (by the company's management and a major shareholder) private placement.
NanoXplore is an R&D company that is developing a graphene production method. NanoXplore makes graphene from graphite, and the deal also states that Mason Graphite will become the company's exclusive graphite supplier and also its sales distributor.
NanoXplore says that their proprietary technique to produce graphene is a low-energy, low-cost and scalable electrochemical conversion process.
Mason will acquire 20% of NanoXplore before the end of the month for $350,000. Mason will also have a right to buy an additional 20% before July 31st, for another $350,000.