GRAPHENE MANUFACTURING GROUP (GMG.V): PROVIDES UPDATE ON FINDER COMPENSATION PAYABLE PURSUANT TO PREVIOUSLY CLOSED NON-BROKERED PRIVATE PLACEMENT
BRISBANE, QUEENSLAND, AUSTRALIA – September 20, 2021 – Graphene Manufacturing Group Ltd. (“GMG” or the “Company”), at the request of the TSX Venture Exchange, is pleased to provide an update on finder’s compensation payable in connection with the Company’s non-brokered private placement of units which closed on September 2, 2021 (the “Private Placement”). The Company has agreed to pay an aggregate cash commission of $24,652.80 and an aggregate of 5,760 finder’s warrants to certain arms’ length finders in connection with the Private Placement. The finder’s warrants are exercisable into units at a price of C$2.14 per unit until September 2, 2024, with each such unit comprised of one ordinary share in the capital of the Company and one-half of one ordinary share purchase warrant. Upon issuance, each underlying warrant is exercisable by the holder to acquire one ordinary share in the capital of the Company at a price of C$2.60 per share at any time until September 2, 2024. Please see the Company’s news release dated September 2, 2021 for additional information regarding the Private Placement.
About GMG
GMG is a clean-tech, disruptive company that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By use of the company’s proprietary process, GMG can produce high quality, low cost, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is also pursuing additional opportunities for GMG graphene including the development of next generation batteries, collaborating with world leading universities in Australia, and investigating the opportunity to enhance the performance of lubricating oils, biodiesel and diesel fuels.
For further information please contact:
– Craig Nicol, Chief Executive Officer and Managing Director of the Company at [email protected], +61 415 445 223
– Leo Karabelas at Focus Communications, [email protected], +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release may constitute “forward-looking information” within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
