Graphene Manufacturing Group Limited (TSXV: GMG) (“GMG” or the “Company“) provides a quarterly update with respect to the Company’s previously announced “at-the-market” equity program (the “ATM Program“) launched on June 13, 2024. The ATM Program allows the Company to issue and sell, from time to time, up to C$20,000,000 of its ordinary shares (“Ordinary Shares“) from treasury to the public, at the Company’s discretion, pursuant to an equity distribution agreement between the Company and Cantor Fitzgerald Canada Corporation (the “Agent“).
During the quarterly period ended March 31, 2025, the Company issued a total of 866,500 Ordinary Shares on the TSX Venture Exchange (the “TSXV“) at an average price of C$0.7965 per share under the ATM Program, providing gross proceeds of C$690,196.80. Commissions of C$20,705.90 were paid to the Agent in relation to these distributions, resulting in net proceeds to the Company of C$669,490.90.
For further details on the ATM Program, see the Company’s news release dated June 14, 2024.
About GMG www.graphenemg.com
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning (“HVAC-R”) coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of G+AI Batteries.
For further information please contact:
- Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249768