Next Graphite, Inc. (OTCBB:GPNE) acquired Gazania Investments Two Hundred and Forty Two (Proprietary) Limited through option agreement exercised for $0.24 million on March 14, 2014. The initial advance payment of $0.09 million was paid as on November 14, 2014. The balance of the purchase price in the amount of $0.15 million was paid by AGI upon exercise of the option. The transaction involved acquisition of 100 shares of Gazania. Post completion, Gazania became a direct wholly-owned subsidiary of Next Graphite.

Next Graphite, Inc. (OTCBB:GPNE) completed the acquisition of Gazania Investments Two Hundred and Forty Two (Proprietary) Limited on March 14, 2014.