Dotz is a nano-technology company focused on the development, manufacture and commercialisation of graphene quantum dots (GQDs).
The company will also be issuing, subject to any shareholder approval that may be required, up to 10 million unlisted options exercisable at $0.20 and expiring two years from the date of issue.
The placement was conducted to take advantage of cost sharing grant funding to access up to circa $2 million in grants over the next 12-18 months.
The initial grant was awarded to Dotz by the U.S.-Israel Binational Research and Development (BIRD) Foundation.
Additional grant funding is directed from the Office of the Chief Scientist of Israel and from the Ministry of Economy.
The grant funds raised will be non-dilutive to Dotz shareholders, and the proceeds from the placement will be applied towards the commercialisation of Dotz’ technology.
The company has recently attained a significant level of product expertise, achieving GQD integration into a multitude of mediums for use in various applications such as plastics, polymers and liquids.
Dotz was also able to integrate its technology into specialty mediums for use in anti-counterfeiting applications, displays, textiles, inks and even bio-medical/bio-imaging applications.
These activities are aimed at achieving commercial agreements with potential customers from tier 1, tier 2 and even end-users.