Graphene 3D Lab announced its intention to complete a non-brokered private placement financing, after which a total of 1,000,000 units will be available for subscription at a price of CAD$ 1.00 per unit for gross proceeds of CAD$ 1,000,000.
Each Unit is comprised of one common share and one half warrant common share purchase. Each whole warrant entitles the holder to purchase a common share for CDN$ 1.25 for a period of two years.
The company intends to use the financing for further research and development and general working capital. Graphene 3D Lab aims to develop, manufacture and market proprietary graphene-based nanocomposite materials for various types of 3D printing. The Company is also involved in the design, manufacture, and marketing of 3D printers and related products for domestic and international customers. The company recently acquired Boots Industries for development of a graphene 3D printer with the capability of printing functional and electronic devices.