HydroGraph Clean Power has announced that it has completed the final tranche of its non-brokered private placement for aggregate gross proceeds of CAD$1,182,500 (over USD$871,000). In total, HydroGraph reported gross proceeds of approximately CAD$3.17 million (over USD$2,334,000) pursuant to the entire Offering.
HydroGraph intends to use the net proceeds from the Offering for application development, business development and general working capital purposes.
“We are pleased to complete the final tranche of this offering that well exceeds our original target of $2.0 million and we would like to thank our loyal shareholders and new investors for their support,” commented Kjirstin Breure, president and Interim CEO of HydroGraph. “Closing this funding round highlights the confidence investors have in the future of HydroGraph and the significant progress to date on commercializing a truly disruptive technology. With a strong team in place, I look forward to leading HydroGraph through this new stage of growth focused on securing our inaugural commercial contracts and advancing application development activities.”
In February 2024, HydroGraph Clean Power announced that it closed the second tranche of its non-brokered private placement for aggregate gross proceeds of C$962,600 (about USD$712,200).