HydroGraph Clean Power has announced the closing of a non-brokered private placement. Pursuant to the upsized and subsequently oversubscribed offering, the total aggregate gross proceeds amount to $3,828,800 (over USD$2,690,000).
Net proceeds from the offering will be used to further commercial activity for the Company’s differentiated graphene products via application development at the GEIC (Graphene Engineering Innovation Center) and other direct customer relationships, production upscaling, business development and general working capital purposes.
“I would like to thank our existing shareholders, notably Haywood Securities Inc and PowerOne Capital Markets Limited for their continued support, and welcome new shareholders as we close on this oversubscribed financing in support of our patented graphene production technology,” commented Kjirstin Breure, President and CEO. “I envision a sustainable future built on our graphene and look forward to advancing HydroGraph’s application development, scale up and commercialization initiatives as we head into 2025.”