G6 Materials Announces Successful Closing of $5.4 Million Non-Brokered Equity Financing
Unit Offering Increased Due to Strong Investor Demand from $5 Million Initial Target
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia – The Newswire – April 12, 2021 - G6 Materials Corp. (“G6” or the “Company”) (TSXV: GGG, OTCQB: GPHBF), a technology company creating value through the development of innovative graphene-based solutions, is pleased to announce that it has closed its non-brokered equity financing previously announced on March 15, 2021 (the “Offering”). Pursuant to the Offering, G6 issued 27,071,000 units for gross proceeds of $5,414,200, which was increased due to strong investor demand from an initial target of $5,000,000. Each unit was priced at $0.20 and was comprised of one common share of the Company and one-half of one warrant to purchase a common share of the Company at a price of $0.30 for a period of 2 years from the closing date of the Offering.
“The closing of this Offering is a significant milestone for G6 Materials as it not only funds our Company for future growth, but it also empowers us to complete the previously announced acquisition of GX Technologies,” said Daniel Stolyarov, President & CEO of G6 Materials Corp. “We are excited to deploy the proceeds of the Offering toward the rapid expansion of a pilot facility to produce graphene oxide in Long Island, New York, to progress the cooperative R&D agreement with the US Army Corps of Engineers. The Company will continue working on its projects including advanced graphene composite materials, graphene oxide-based air purification projects, as well as other innovative initiatives,” added Mr. Stolyarov.
All securities issued will be subject to a four-month hold period expiring on August 13, 2021. $231,300 and 1,156,500 warrants were paid by the Company to various third parties for their direct efforts in attracting investors to the Offering.
