Black Swan Graphene announces capital raise for capacity expansion and commercial growth
Black Swan Graphene has announced a non-brokered private placement of units for gross aggregate proceeds of CAD$6,000,000 (around US$4,177,000).
The Company intends to use the net proceeds for the acquisition and installation of additional plant associated equipment to increase production capacity in Consett, United Kingdom; hiring of additional direct sales and operations staff; expanding distribution channels; and for general corporate purposes. The Company's Board of Directors considered the Consolidation necessary to attract new investment and also to align with the Company's growing reputation and provide greater credibility when potential customers inevitably assess its market presence and stability.