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"Heads of Agreement (HOA) for the sale of 7,500 tonnes per annum to a large Chinese graphite and expandable products mining and processing Company, Jixi Puxiang New Material Co. Ltd. under a HOA leading to a binding Agreement"

Jixi Puxiang Materials Co. Ltd. After several months of Lindi Jumbo product test
-work and negotiation by mining, processing and product-upgrade Group, Jixi Puxiang MaterialsCo. Ltd. Heilongjiang Province, the HOA provides a framework for a detailed binding Sales and Purchase Agreement to be negotiated during the
third quarter of 2017. This binding offtake Agreement will include guaranteed and overflow volumes of arange of products and market linked pricing mechanisms.
Jixi Puxiang Materials is a subsidiary of the well-known Jixi Puchen Group which has been mining and processing graphite in China for more than 15 years and has
developed premium product distribution into China and Europe.