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IMX: Graphex IPO set to proceed as scheduled after replacement prospectus approved

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IMX: Graphex IPO set to proceed as scheduled after replacement prospectus approved

IMX ResourcesLtd. said May 10 that the replacement prospectus for the IPO ofGraphex Mining Ltd. has been reviewed and approved by the Australian Securitiesand Investments Commission and the IPO is cleared to proceed.

The company addressed all concerns raised by the ASIC overthe prospectus lodgedApril 4, and the IPO will proceed on schedule.

The general offer for Graphex shares is expected to close May11 due to the demand being in excess of the maximum A$7 million raising.

In the replacement prospectus, the company disclosedadditional information on the capacity of the Chilalo graphite project in Tanzania to securefinancing for project development, the robustness of the graphite resource,including the declaration of a maiden ore reserve, and additional generalinformation on the graphite market.