Graphene Manufacturing Group Ltd ( (TSE:GMG) ) has shared an announcement.
Graphene Manufacturing Group Ltd. has successfully closed a bought deal financing, raising C$5,796,000 through the issuance of 7,245,000 units. The proceeds will be used to expand production capacity, enhance research and development for graphene aluminium-ion batteries, and prepare for a potential uplisting on a major United States exchange. This financial move is expected to bolster GMG’s market position and operational capabilities, potentially impacting stakeholders positively by driving growth and innovation in the clean-technology sector.
More about Graphene Manufacturing Group Ltd
Graphene Manufacturing Group Ltd (GMG) is an Australian clean-technology company specializing in energy saving and energy storage solutions, utilizing graphene produced through its proprietary process. The company focuses on commercial scale-up capabilities and market applications, particularly in graphene-enhanced HVAC-R coatings and graphene lubricant additives for diesel engines. GMG is also advancing the development of graphene aluminium-ion batteries in collaboration with the University of Queensland, supported by the Australian Government.
YTD Price Performance: 19.05%
Average Trading Volume: 168,353
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$79.13M
Find detailed analytics on GMG stock on TipRanks’ Stock Analysis page.