Redstar Development to raise no more than RMB580 million for high-purity manganese sulfate and other projects

Redstar Development on November 1 announced that, the company intends to raise no more than RMB580 million (USD80 million) by issuing shares in a private placement, which is intended to be used to acquire 75% equity of Qingdao Red Butterfly Precision Materials Co.Asian Metal Copyright, for 50,000 tonsyear power-battery-special high-purity manganese sulfate project and to supplement working capital.Asian Metal Copyright, Ltd., for 50,000 tons/year power-battery-special high-purity manganese sulfate project and to supplement working capital.
.Asian Metal Copyright, for 50,000 tonsyear power-battery-special high-purity manganese sulfate project and to supplement working capitalAsian Metal Copyright