Graphene 3D Lab Inc. Closes Oversubscribed Private Placement and Raises $212,000

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

(TheNewswire)



October 16, 2019 - TheNewswire - Vancouver, BC, Canada - Graphene 3D Lab Inc. (the "Company" or "Graphene") (TSXV:GGG) (OTC:GPHBF) is announcing that further to its news release on September 30, 2019, the Company has now closed an oversubscribed private placement for gross proceeds of $212,000.

 

In connection with the current placement, the Company will issue 4,240,000 units (each, a “Unit”) at a price of $0.05, consisting of one common share and one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.12 per share for a period of twenty-four (24) months. The common share purchase warrants are subject to acceleration at the Company’s discretion in the event the Company’s common shares trade on a volume weighted average price (VWAP) basis of $0.16 or more for a period of ten consecutive trading days.

 

The securities issued by the Company in connection with the private placement will be subject to a four month hold period from the date of issuance as prescribed by applicable securities laws. Insiders subscribed for 1,800,000 Units in connection with the placement. No finders’ fees were paid in relation to closing of the placement. The issuance of securities in connection with the closing of the placement is subject to TSX approval.

 

Following issuance of securities related to this placement, the Company will have 82,608,574 common shares issued and outstanding.

The Company intends to use the net proceeds from the private placement for research and development activities and general working capital purposes.

 

ON BEHALF OF THE BOARD:  Daniel Stolyarov, President & CEO

  

For More Information:

  ----------------------------------------------------------------------------- |Commercial Inquiries:  |       Investor Inquiries:       | |Daniel Stolyarov |Telephone: (631) 405-5114 | |Chief Executive Officer |Email:[email protected]| |Telephone: (631) 405-5113 | | |Email:[email protected] | | -----------------------------------------------------------------------------  

FORWARD LOOKING INFORMATION

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE.  READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE.  WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE

THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE

AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Copyright (c) 2019 TheNewswire - All rights reserved.