In June 2017 Group NanoXplore, a Montreal-based company specializing in the production and application of graphene and its derivative materials, announced that it will merge with Graniz Modal, a public company that trades in the Canadian stock exchange (TSX: GRA.H) - to become a public company.
As part of this transaction NanoXplore said it will raise between $2 and $5 million CAD in a private placement. Today NanoXplore announced that it successfully raised the money - and actually managed to raise a much higher sum - almost $9.7 million CAD. NanoXplore will pay 7% of these to the agent in this deal.
This is an important step towards NanoXplore's goal to become a public company and good news for the company. Looking into the future, NanoXplore plans a 10,000 tons graphene facility that will enable it to lower the price of its graphene to $10/kg.