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Sunrise Energy Metals (ASX:SRL) plans acquisition and demerger
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Sunrise Energy Metals (SRL) is planning to take full ownership of its graphene oxide membrane development joint venture company, NematiQ
The company will acquire its remaining interest in NematiQ from Ionic Industries for roughly $2 million worth of fully paid shares
As a result, NematiQ will become a wholly owned subsidiary of Associated Water, a Sunrise Energy Metals company
In related news, the company has scheduled a meeting to seek shareholder approval for the demerger of its water business
Sunrise Energy Metals is up 0.19 per cent and trading at $2.70 per share