|September 29, 2016|
Graphene 3D Lab Inc. Closes $97,000 Second and Final Tranche of an Oversubscribed Private Placement for a total raise of $527,000
|NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.|
September 29, 2016 --Calverton, NY and Vancouver, BC -- Graphene 3D Lab Inc. (TSX-V: GGG, OTCQB: GPHBF) (the "Company")today announced that it has closed the second and final tranche of the private placement of units, announced on August 30, 2016. The Company issued 606,250 units at a price of $0.16 per unit for gross proceeds of $97,000. On September 13, 2016 the Company issued a news release announcing the closing of the first tranche of the private placement whereby it issued 2,687,500 units at a price of $0.16 per unit for gross proceeds of $430,000.
With the closing of the second and final tranche, the Company has raised and aggregate of $527,000 through the issuance of 3,293,750 units.
Each unit consisted of one common share and one common share purchase warrant. Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.25 per share.
All securities issued will be subject to a four-month hold period with expiring on January 29, 2017. The Company intends to use the proceeds of the private placement for general working capital purposes.
Finders fees of $6,790 and 42,437 warrants were paid with respect to a portion of the funds received during the second tranche of this private placement.
Grant of Options
On September 13, 2016, 200,000 incentive stock options were granted to an officer of the company. The options are exercisable at $0.21 per share for a period of five years from the date of the grant. The Options were granted pursuant to the Company's shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any regulatory hold periods.
About Graphene 3D Lab, Inc.
Graphene 3D Lab, Inc. is a world leader in the development, manufacturing and marketing of proprietary composites and coatings based on graphene and other advanced materials. These diverse materials have a wide spectrum of commercial, research and military applications. The Company's wholly owned subsidiary, Graphene Laboratories Inc., currently offers over 100 graphene and related products to a client list comprised of more than 11,000 customers worldwide, including nearly every Fortune 500 tech company and major research university. Some notable clients are: NASA, Ford Motor Co., GE, Apple, Xerox, Samsung, Harvard University, IBM and Stanford University. The Company's suite of products are available online at the company's e-commerce platform Graphene Supermarket (www.graphene-supermarket.com).
3D printing division of the Company offers a portfolio of specialty fused filament fabrication filaments. These materials can be purchased through multiple distribution networks worldwide or directly online at www.blackmagic3D.com.
Graphene 3D also holds a new proprietary technology encompassing the preparation and separation of atomic layers of graphene. This technological breakthrough represents a new, energy efficient process to manufacture, sort and classify graphene nanoparticles resulting in the potential for large scale production of high grade graphene at lower costs than exist in today's marketplace.
The Graphene 3D facility is located in Calverton, NY and is equipped with material processing and analytical equipment. The company has six US patent applications pending for its technology. For more information on Graphene 3D Lab Inc., visit www.graphene3dlab.com.
ON BEHALF OF THE BOARD
President & Co-CEO
For More Information:
Co-Chief Executive Officer
Telephone: (631) 405-5116
Investor Relations Coordinator
Telephone (631) 405-5114
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