HydroGraph Clean Power has announced the completion of a non-brokered private placement, with gross proceeds of approximately CAD$2.31 million (over USD$1,700,000).
“It is quite an exciting time where we close another oversubscribed successful funding round with strong support from our shareholders, management and new investors,” said Stuart Jara, CEO of HydroGraph. “Funding will allow us to accelerate the commercialization of our graphene including business development and customer acquisition activities. The Board and I are appreciative of the continued support of the Company, our strategy and our focus on creating shareholder value.”
HydroGraph intends to use the net proceeds primarily to further progress customer engagement and product acceptance. A portion of the funds will also be used to extend the Company’s graphene product and application portfolio.