Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) has secured an fairness distribution settlement permitting it to lift as much as C$20 million by the sale of abnormal shares, primarily to fund ongoing operations and growth initiatives. Below the phrases of the settlement, GMG has the discretion to promote abnormal shares by the Agent, Cantor Fitzgerald, with proceeds as much as C$20 million.
Gross sales will probably be performed by market distributions on the TSX Enterprise Alternate or different eligible Canadian buying and selling markets.
Proceeds from the ATM Facility will help GMG’s ongoing operations, together with industrial and product growth, in addition to working capital wants. GMG makes a speciality of clear expertise, leveraging proprietary processes to provide high-quality graphene from pure fuel. Present efforts are targeted on scaling manufacturing, securing market purposes, and advancing graphene-enhanced HVAC-R coatings, lubricants, fluids, and graphene aluminium-ion batteries in collaboration with the College of Queensland and the Australian Authorities.
The settlement stays efficient till both C$20 million of abnormal shares have been issued and bought or February 10, 2025, topic to earlier termination by GMG or the agent.