|March 20, 2019|
Graphene 3D Lab Inc. Announces Private Placement of up to $275,000
Vancouver, BC -- Graphene 3D Lab Inc. (the “Company” or “Graphene”) is pleased to announce that it has arranged a non-brokered private placement of up to 4,583,334 units at a price of $0.06 per unit to raise aggregate proceeds of up to C$275,000. Each unit consists 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 $0.10 per share. If the common shares trade on the TSX Venture Exchange at a volume weighted-average price of $0.15 or more per common share for any period of at least ten consecutive trading days after four months plus one day from the initial closing date, the Company shall be entitled to accelerate the expiry time of the warrants to a date that is at least thirty days from the date that notice of such acceleration is given via news release by the Company, with the new expiry time specified in such news release.
Daniel Stolyarov, CEO of the company remarked: “We are completing a small raise that will allow the Company to pursue a couple of very promising new opportunities. Proceeds will be used primarily to purchase and install additional equipment to upgrade our facilities to ensure we have the necessary capabilities to execute and position ourselves for larger long-term contracts going forward.”
All securities issued will be subject to a four-month hold period from the date of closing. The Company intends to use the proceeds of the private placement for facility upgrades and for general working capital purposes.
About Graphene 3D Lab, Inc.
Graphene 3D Lab, Inc. is capitalizing on groundbreaking properties of graphene and other advanced materials. The company is offering high-tech solutions in several areas including:
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FORWARD LOOKING INFORMATION
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