Graphene Manufacturing Group enters into C$20M equity distribution agreement

0

Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) has secured an equity distribution agreement allowing it to raise up to C$20 million through the sale of ordinary shares, primarily to fund ongoing operations and development initiatives. Under the terms of the agreement, GMG has the discretion to sell ordinary shares through the Agent, Cantor Fitzgerald, with proceeds up to C$20 million.

Sales will be conducted through market distributions on the TSX Venture Exchange or other eligible Canadian trading markets.

Proceeds from the ATM Facility will support GMG’s ongoing operations, including commercial and product development, as well as working capital needs. GMG specializes in clean technology, leveraging proprietary processes to produce high-quality graphene from natural gas. Current efforts are focused on scaling production, securing market applications, and advancing graphene-enhanced HVAC-R coatings, lubricants, fluids, and graphene aluminium-ion batteries in collaboration with the University of Queensland and the Australian Government.

The agreement remains effective until either C$20 million of ordinary shares have been issued and sold or February 10, 2025, subject to earlier termination by GMG or the agent.

Share.

Comments are closed.