Zen Graphene Solutions has announced the closing of the first tranche of its previously announced private placement of units.
The Company raised gross proceeds of CAD$1,077,294.80 (around USD $788,115) under the Offering, which will be used to fund ongoing work on the Albany Graphite Project including graphene research and scale up, COVID-19 initiatives and other graphene applications development and for general corporate purposes. A second tranche is expected to close shortly in line with previous interest received.
Earlier this month, ZEN Graphene Solutions announced it will be launching a new research collaboration with Prof. Mohammad Arjmand and his team at the University of British Columbia (UBC)‐Okanagan Campus, with a $200,000 Department of National Defence (DND) Innovation for Defense Excellence and Security (IDEaS) award.
Last month, ZEN Graphene Solutions announced an international collaboration with UK-based Graphene Composites to fight COVID-19 by developing a potential virucidal graphene-based composite ink that can be applied to fabrics including N95 face masks and other personal protective equipment (PPE) for significantly increased protection. Once the development, testing, and confirmation of the graphene ink's virucidal ability have been completed, the ink will then be incorporated into fabrics used for PPE.