Graphene Manufacturing Group (GMG) will issue roughly 6.5 million shares to a private investor at CA$2.15 (about US$1.53) each in a private placement raising approximately US$10 million. The raise is subject to TSX Venture Exchange approval and is expected to close on or about September 23, 2026.
GMG said it intends to use the net proceeds to scale up its graphene and liquid graphene production capacity, expand battery cell production capacity, commercialize its liquid graphene products, and for working capital and general corporate purposes.
"We are very pleased to welcome this US$10 million investment, which further validates our products and business model and allows for significant production expansion to allow for expected sales in the near term of liquid graphene products and progress our next generation graphene battery," said Craig Nicol, GMG's CEO and managing director.
Jack Perkowski, GMG's non-executive chairman, framed the raise as part of the company's broader growth strategy: "Securing a significant capital commitment is a strong vote of confidence in our technology and our team. North America remains a key market for GMG, and this additional investment positions us well to scale production and drive long-term adoption of our graphene-enhanced products across the region."
Update, September 29, 2026: GMG announced the private placement has now closed for total gross proceeds of approximately US$10 million.
