Proceeds are expected to finance expansion and general working capital
By Devika Patel
Knoxville, Tenn., Dec. 11 – Graphene 3D Lab Inc. said it increased a non-brokered private placement of units to C$1 million from C$850,000. The deal priced Thursday.
The company will now sell 4 million units of one common share and one warrant at C$0.25 per unit. Each two-year warrant will be exercisable at C$0.30, a 3.45% premium to the Dec. 9 closing share price of C$0.29.
Proceeds will be used for expansion of the company's business and for general working capital purposes.
The Vancouver, B.C., company develops and sells polymer nanocomposite graphene-based materials for various types of 3D printing.
| Issuer: | Graphene 3D Lab Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 10
|
| Upsized: | Dec. 11
|
| Stock symbol: | TSX Venture: GGG
|
| Stock price: | C$0.29 at close Dec. 9
|
| Market capitalization: | C$11.53 million
|
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