Grafoid Raises USD $3.5M Through A Private Financing
Grafoid raises USD $3.5M through a private financing
OTTAWA — (Marketwire – July 8, 2013) – Grafoid Inc. (“Grafoid”) is pleased to announce the close of part of a private financing with qualified US investors for aggregate gross proceeds of USD $3,532,000 (the ‘’Offering’’) by issuing a total of 7,064,000 common shares at a price of USD $0.50 per share. Grafoid engaged a New York-based broker-dealer to act as a non-exclusive placement agent in connection with the Offering.
In addition, during the first half of 2013, Grafoid raised an aggregate of CAN$1,663,530 by issuing a total of 3,327,060 common shares at a price of CAN$0.50 per share in a non-brokered private offering with various business partners, collaborators and qualified investors in Canada.
Grafoid President and CEO Gary Economo said the financing represented a major step towards Grafoid’s future growth in the global technology market.
“This closing is the next corporate step in Grafoid’s development. The interest expressed by U.S. and Canadian investors at this time bodes well for our company,” Mr. Economo said.
“Our strategy is to create a world-leading graphene research, development and investment company. Coupled with the rollout of our global platform in Singapore and launch of Grafoid’s MesoGraf™, this financing round moves us a step closer to the construction of our MesoGraf™ production facilities,” he said.
“As evidenced by today’s announcement, Grafoid’s leadership in the graphene space is gaining attention in global markets,” Mr. Economo said.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States absent registration or an exemption from such registration requirements.
About Grafoid Inc.
Grafoid is a privately-held graphene research, development and investment company partnered with Focus Graphite Inc., owner of the high-grade Lac Knife, Quebec graphite deposit.
Grafoid invests in, manages, and develops markets for processes that produce economically scalable, pristine graphene that is used in graphene development applications by leading corporations and institutions.
The company’s leading investment produces high-energy bilayer and trilayer graphene from a safe, non-destructive extraction process leaving the lowest possible ecological footprint.
The game-changing process results in a new global standard for economically scalable graphene products – trademarked under the MesoGraf™ trade name – that can be tailored to both industrial and commercial applications.
Management believes MesoGraf™ sets the global standard for graphene from a top-down process.
Grafoid brings knowledge in graphene, resolves scalability issues, adapts graphene to unique applications, and; provides solutions for achieving success.
For more information, please contact:
President and Chief Executive Officer
This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected.