Graphene Manufacturing Group Ltd ( (TSE:GMG) ) has issued an announcement.
Graphene Manufacturing Group Ltd has successfully closed a bought deal financing, raising approximately $5.8 million through the issuance of 7,245,000 units. The funds will be used to expand production capacity, advance research and development, particularly in graphene aluminium-ion batteries, and prepare for a potential uplisting on a major U.S. exchange. This financing is expected to bolster GMG’s operational capabilities and enhance its market position in the clean-technology sector.
More about Graphene Manufacturing Group Ltd
Graphene Manufacturing Group Ltd (GMG) is an Australian clean-technology company focused on developing, manufacturing, and selling energy-saving and energy storage solutions. The company utilizes a proprietary process to produce high-quality graphene from natural gas, which is used in various applications including HVAC-R coatings, electronic heat sinks, and graphene lubricant additives. GMG is also working on the commercialization of graphene aluminium-ion batteries in collaboration with the University of Queensland.
YTD Price Performance: 19.05%
Average Trading Volume: 168,353
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$79.13M
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