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  • Graphene Manufacturing Group (GMG) has closed both its overnight marketed public offering and non-brokered private placement
  • The company raised proceeds of approximately C$11.55 million from the marketed offering and $909,500 from its non-brokered private placement
  • Proceeds will be used to develop a commercial coin cell graphene aluminum-ion battery prototype, perform front-end design and commence the building of a battery manufacturing facility
  • GMG is a clean-tech, disruptive company that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite
  • Graphene Manufacturing Group Ltd. (GMG) opened trading at C$2.29 per share

Graphene Manufacturing Group (GMG) has closed both its overnight marketed public offering and non-brokered private placement.

Gross proceeds of approximately C$11.55 million were raised from the marketed offering. The offering was completed pursuant to an underwriting agreement between the company and Cantor Fitzgerald Canada Corporation and a syndicate of underwriters including PI Financial Corp., Echelon Wealth Partners Inc. and Haywood Securities Inc.

The company raised proceeds of $909,500 from its non-brokered private placement.

GMG will use the proceeds of the public offering and private placement to develop a commercial coin cell graphene aluminum-ion battery prototype, perform front-end design and commence the building of a battery manufacturing facility.

GMG is a clean-tech, disruptive company that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. Using this low input cost source of graphene, GMG is developing value-added products that target the massive energy efficiency and energy storage markets.

Graphene Manufacturing Group Ltd. (GMG) opened trading at C$2.29 per share.

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