Graphene Manufacturing Group (GMG) has announced that it has completed its previously announced bought deal offering for aggregate gross proceeds to the Company of C$5,796,000 (around US$4,020,000).
The Company intends to use the net proceeds of the Offering to expand its production capacity to increase sales, continue ongoing research and development to progress the Graphene Aluminium-Ion Battery with the Battery Innovation Center of Indiana, prepare to uplist on a major United States exchange and working capital and general corporate purposes.
Under the Offering, Ventum Financial Corp. acted as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Red Cloud Securities Inc. pursuant to the underwriting agreement entered into between the Underwriters and the Company.
