Graphene Manufacturing Group Ltd (TSE:GMG) has released an update.
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Graphene Manufacturing Group Ltd. announces a marketed offering of approximately $2 million through the sale of units at $0.42 each, which includes common shares and warrants with a 4-year exercise period. The proceeds are intended to bolster the company’s financial stability and support its research and development efforts, with closing expected around May 7, 2024. An over-allotment option for additional units is also granted to the underwriter for market stabilization and over-allotments.
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