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Magnis Energy Technologies Limited (ASX:MNS) Completes Funding from Investors
Magnis Energy Technologies Ltd (ASX:MNS) (FRA:U1P) (OTCMKTS:MNSEF) is pleased to announce that it has completed funding from L1 Capital Global Opportunities Master Fund (Affiliate entity of SBC Global Investment Fund) ("L1 Capital") and Regal Funds Management as trustee for one or more funds ("Regal"). As previously announced to the market, the funding is structured as an equity linked pre-paid share subscription facility agreement for a total of up to A$50 million subscription credit, the agreed material terms of which are set out in the Schedule to this announcement (Pre-Payment Subscription Facility). Evolution Capital advised Magnis in relation to the funding.

Commenting on the completion of the funding, Magnis' Executive Chairman, Frank Poullas, said:

"Magnis is pleased to have reached agreement with the Investors for the funding, which strengthens the Company's balance sheet and places it in a strong position to accelerate development of its vertically integrated AAM business. We would like to thank the Investors and Evolution Capital for their continued support of Magnis' vision."

The receipt of the Funding Proposal marks another critical step towards Magnis' goal of becoming a leading global, vertically integrated player in the lithium-ion battery value chain. Further information in relation to the Pre-Payment Subscription Facility is set out in the Schedule to this announcement.

To view the Key Terms, please visit:
https://abnnewswire.net/lnk/0V94G2II

Con Hoursalas
Group Communications Manager
con.hoursalas@magnis.com.au
Ph: +61 2 8397 9888
www.magnis.com.au





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