Closing of $3.47M Marketed Offering Graphene Manufacturing Group Announces Closing of $3.47M Marketed Offering, Including
Exercise In Full of the Over-Allotment Option
May 7, 2024
BRISBANE, QUEENSLAND, AUSTRALIA – Graphene Manufacturing Group Ltd. (TSX-V: GMG)
(“GMG” or the “Company”) is pleased to announce that the Company has closed its previously
announced marketed public offering of units (the “Units”) of the Company, including exercise in full of
the over-allotment option (the “Offering”). A total of 8,280,000 Units were sold at a price of C$0.42 per
Unit for gross proceeds of approximately C$3.47 million. Each Unit is comprised of one ordinary share of
the Company (each, an “Ordinary Share”) and one ordinary share purchase warrant (each, a “Warrant”).
Each Warrant shall entitle the holder to purchase one ordinary share of the Company (a “Warrant Share”)
at an exercise price of C$0.55 per Warrant Share at any time until May 7, 2028, subject to adjustment in
certain events. The Offering was completed pursuant to an underwriting agreement dated April 30, 2024
between the Company and Ventum Financial Corp. (formerly PI Financial Corp.) (the “Underwriter”).
The net proceeds of the Offering are expected to be used primarily to strengthen the Company's financial
position and provide liquidity to finance ongoing operations, including, in particular, the Company’s
expenses incurred, and expected to be incurred, in connection with the Company’s research and
development objectives, and for working capital and general corporate purposes.
In connection with the Offering, the Company paid the Underwriter a cash commission equal to 7% of the
gross proceeds of the Offering and issued to the Underwriter such number of compensation warrants as is
equal to 7% of the number of Units sold pursuant to the Offering (the “Compensation Warrants”). Each
Compensation Warrant is exercisable into a Unit at an exercise price of C$0.42 per Unit until May 7,
2028.
The Offering was completed pursuant to a prospectus supplement dated April 30, 2024 (the
“Supplement”) to the Company’s amended and restated base shelf prospectus receipted on January 10,
2024 (the "Base Shelf Prospectus"). Copies of the Supplement and the Base Shelf Prospectus can be
obtained on SEDAR + at www.sedarplus.ca.
The TSX Venture Exchange (“TSXV”) has conditionally approved the listing of the Ordinary Shares. The
Company does not intend to list the Warrants for trading.