KUALA LUMPUR, Oct 7 -- Blackstone Resources AG (Blackstone), a Swiss Holding Company, has signed a three-year equity commitment with the Luxembourg-based GEM Global Yield LLC SCS.
The deal will make available up to CHF (Swiss Franc) 30 million for Blackstone to use at its discretion, subject to terms, in its pursuit to commercialise its battery technology and battery metals, according to a statement. (CHF 1 = RM4.53)
The funding accelerates Blackstone’s development of a commercially printed battery, to roll out the production in masses, to acquire the plant and equipment key to production and to develop its battery metal investments.
“This financing puts us on the road to realise our vision of battery manufacturing leadership to produce batteries with more density by using the safe and environmentally-friendly production-line at lower costs than what is currently available in the market,” said Blackstone Chief Executive Officer, Ulrich Ernst.
Through this Share Subscription Facility, Blackstone will issue 2.5 Mio warrant shares with an exercise price of CHF 3.00, which will allow it to initiate a necessary capital increase in due course.
-- BERNAMA
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