Hydrograph Clean Power (HG-Cse) Announces $3 Million PP
Aug 23, '22 - NR
HydroGraph Clean Power is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) of units of the Company (the “Units”) at a price of $0.12 per Unit, for aggregate gross proceeds of up to $3,000,000. The Private Placement is expected to close on or about Friday, August 26, 2022.
Each Unit will consist of one common share in the capital of the Company (each, a “Common Share”) and one half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share (each a “Warrant Share”) at a price of $0.20 per Warrant Share for a period of 24 months after the closing date of the Private Placement.
After the statutory hold period of four months and a day from the closing date, each Warrant will be subject to an acceleration right (the "Warrant Acceleration Right") exercisable by the Company, if on any ten consecutive trading days the daily volume weighted average trading price of the Common Shares on the Canadian Securities Exchange is $0.30 or greater per Common Share. If the Company exercises its Warrant Acceleration Right, the new expiry date of the Warrants will be the 30th day following the notice of such exercise. The Units issued under the Private Placement, and the underlying securities, will be subject to certain resale restrictions such as a hold period of four months and a day from the closing date. The Company reserves the right to increase the size of the Private Placement by up to 25% in the context of the market.
HydroGraph’s proprietary and patented detonation process manufactures the highest quality graphene and other strategic materials at the most competitive price points with the lowest environmental footprint in the industry. HydroGraph is the only company in the Americas to be certified by the Graphene Council as a Verified Graphene Producer®, an independent 3rd party certification that validates graphene production facilities, verification of production methods and volumes, and quality control processes.
The Company intends to use the proceeds of the Private Placement to complete the larger multi chamber commercial scale production cell, to continue to invest in business development teams, and to develop and advance application partnerships.
"We are thrilled to announce our latest round of funding as this will fuel our pipeline to continued commercialization and will open up a new world of possibilities for designing and building new technologies around the reality of graphene,” said Stuart Jara, Chief Executive Officer of HydroGraph.
Samples of HydroGraph’s fractal and reactive graphene are available for testing purposes upon request. Interested parties can submit requests through info@hydrograph.com.
Contacts:
HydroGraph Investor Relations
Kjirstin Breure
kjirstin@hydrograph.com
604-220-3120
HydroGraph Media Contact
Kristin Schaeffer
kristin@amfmediagroup.com
About HydroGraph
HydroGraph Clean Power Inc. was founded in 2017 to fund and commercialize green, cost-effective processes to manufacture graphene, hydrogen and other strategic materials in bulk. Publicly listed on the Canadian Securities Exchange Dec. 2, 2021, the Company acquired the exclusive license from Kansas State University to produce both graphene and hydrogen through their patented detonation process. More information about the Company and its products can be found on the HydroGraph website. www.hydrograph.com/
For company updates, please follow Hydrograph on LinkedIn and Twitter.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. |
