Earthasia International Holdings Ltd.

10:07 AM EST - Earthasia International Holdings Ltd. : Announced that on February 22, 2021 The board of directors of the Company approved the foundation of a new indirect wholly-owned subsidiary, Heilongjiang Province Graphex New Material Technology Company Limited ("HLJ Province Graphex") at Qitaihe City of the Heilongjiang Province of China. The Company's current annual production capacity for spherical graphite, an essential material to produce anodes for lithium-ion batteries used in electric vehicles, is 10,000 tons. It is the Company's plan to invest in and develop a new production facility for spherical graphite through HLJ Province Graphex with a planned additional production capacity of up to 30,000 tonnes that will come into operation in phases. Earthasia International Holdings Ltd. shares O.ETIHY are trading down 30 cents at $3.80.