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Grafoid enters agreement to sell its share in Braille Batteries

Wednesday, October 19, 2016 1:41
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(Before It's News)

Mincom Capital has announced it has entered into a non-binding letter of intent with Grafoid to acquire Grafoid’s 75% interest in Braille Holdings which owns Braille Battery. The proposed purchase price is $2 million USD, of which $1 million USD will be paid in cash and $1 million USD will be paid in shares issued to Grafoid from the treasury of Mincom. To fund this acquisition, Mincom plans to raise around $3 million USD.

Grafoid stated that “We see future market opportunities for high performing next generation batteries in the bus and truck manufacturing sectors and we see trends emerging in marine, aviation and medical equipment and other industrial sectors that might benefit from graphene-based energy solutions”.

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