- 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.
