Graphene Manufacturing Group (GMG) has announced a raise of up to C$20 million (over USD$14.5 million) through the sale of ordinary shares, primarily to fund ongoing operations and development initiatives.
Under the terms of the agreement, GMG has the discretion to sell ordinary shares through the Agent, Cantor Fitzgerald. Sales will be conducted through market distributions on the TSX Venture Exchange or other eligible Canadian trading markets. Proceeds from will support GMG's ongoing operations, including commercial and product development, as well as working capital needs.
GMG specializes in clean technology, leveraging proprietary processes to produce high-quality graphene from natural gas.
Current efforts are focused on scaling production, securing market applications, and advancing graphene-enhanced HVAC-R coatings, lubricants, fluids, and graphene aluminium-ion batteries in collaboration with the University of Queensland and the Australian Government.