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ASX-listed Magnis Resources has changed its company name to Magnis Energy Technologies.

For ASX purposes, the effective date for the company name change is 5 November 2018.

The ASX code will remain unchanged for the fully paid ordinary shares in the company.

The change of name was approved by shareholders at an AGM held on 26 October 2018.

The company announced in July this year it proposed to change its name to better capture the operations and value the company is creating now and in the future.

As Magnis scales up its lithium-ion battery manufacturing operations, it had become apparent from meetings with stakeholders, potential investors and partners, that a change of company name to better reflect current operations was warranted.

The company name change will not impact on the future development of its high-quality flake graphite project in Tanzania.

The company believes that the new name of Magnis Energy Technologies, better reflects the nature of its operations as a whole and will facilitate an improved understanding by the market of the company’s growth strategy.