Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) closed its bought deal offering, raising C$5.8M through the sale of 7.245M units at C$0.80 each, including full exercise of a 945,000-unit over-allotment.
Each unit includes one common share and a warrant exercisable at C$1.10 for 36 months.
Ventum Financial led the underwriting with Red Cloud Securities.
Proceeds will fund production expansion, R&D on the Graphene Aluminium-Ion Battery, a potential US exchange uplisting, and general corporate needs.