InVert Graphite Limited (formerly Dominion Minerals Limited) has issued a supplementary prospectus, updating key information in its initial prospectus dated March 13, 2025. The primary change involves extending the closing date of the offer to April 30, 2025. Consequently, the indicative timetable for completion of the acquisition and the offer has been pushed to May 9, 2025, with dispatch of holding statements expected by May 12, 2025 and indicative readmission on the ASX on May 15, 2025, subject to ASX approval.
Further updates pertain to the company’s investment in Luna Energy Ltd. Luna Energy entered a binding term sheet for a reverse takeover transaction with TSXV-listed JVR Ventures Inc. Should this transaction complete, InVert Graphite’s Luna Energy shares would be cancelled, and InVert Graphite would receive 425,675 shares in the Resulting Issuer, expected to be renamed Luna Energy Ltd. This is expected to result in an accounting reduction of A$310,559 in the fair value of InVert Graphite’s investment, based on a proposed private placement price of C$0.165 per share.
The supplementary prospectus also includes updated financial information, including audited statements for InVert Graphite and EGR Tanzania for the year ended December 31, 2024, and unaudited statements for Exceptional Graphite. A supplementary pro forma statement of financial position as at December 31, 2024, reflects these updated financials, the impact of the Offer, the Luna Energy transaction, and revised offer expenses. These adjustments include the settlement of the Acquisition of Exceptional Graphite and White Hill Licences, costs related to the Morogoro Project, and the issue of performance shares and options to directors, management, and the lead manager.
The expenses of the Offer are now estimated to be A$760,481 under the minimum subscription scenario and A$772,744 under the maximum subscription scenario, reflecting increases due to the supplementary prospectus lodgement fee, investigating accountant fees, and legal fees. PKF Brisbane Audit has provided a supplementary independent limited assurance report regarding the financial information contained in the prospectus.
