Graphene Manufacturing Group (GMG) has closed its previously announced offering of units. The Company reported gross proceeds of approximately CAD$3.45 million (around USD$2,549,000).
GMG said the net proceeds will be used primarily to strengthen its financial position and provide liquidity to finance ongoing operations, most notably for research and development.
Graphene Manufacturing Group produces graphene and hydrogen by cracking methane, or natural gas, instead of mining graphite. Its proprietary process can produce high quality, low cost, scalable, ‘tunable’ and low contaminant graphene.
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Posted: Aug 17,2023 by Roni Peleg