CRASH FINANCING: 'UNEXPECTED' DUE To MORE HEAVY R&D !- MORE URGENT CUSTOMER-FOCUSED R&D FUNDING and DELAYED AUTO CONTRACT {DUE to TRYING OUT NEW GRAPHENE FORMULATIONS rather than the ONE TESTED} MADE the FINANCING UNAVOIDABLE
- DISAPPOINTED but still a POTENTIAL MASSIVE VALUE CREATOR
^^^ Hydrograph Clean Power arranges $2-million financing
2024-11-26 09:48 ET - News Release
Mr. Kjirstin Breure reports
HYDROGRAPH ANNOUNCES $2 MILLION PRIVATE PLACEMENT
Hydrograph Clean Power Inc. intends to complete a non-brokered private placement of units of the company at a price of 16 cents per unit for aggregate gross proceeds of up to $2-million.
Each unit will consist of one common share in the capital of the company and one-half common share purchase warrant of the company. Each warrant will entitle the holder thereof to purchase one common share at a price of 24 cents per warrant share for a period of 36 months after the closing date of the offering.
"Building off our strong commercial traction across multiple industries, this investment will expedite the adoption of graphene solutions, driving value for our customers and stakeholders alike," said chief executive officer Kjirstin Breure. "The momentum we have generated this year alone serves as a very positive indication that we are nearing an inflection point which will further drive our commercial efforts."
Net proceeds from the offering will be used for furthering commercialization via application development at the GEIC (graphene engineering innovation centre) driven by customer interest, production upscaling, business development and general working capital purposes. The company may pay certain finders a fee in connection with the sale of units to purchasers introduced to the company by such finders. The company reserves the right to increase the size of the offering by up to 30 per cent in the context of the market.
The offering is expected to close on or about Dec. 6, 2024, or on any other date(s) as the company may determine. The closing of the offering is subject to the receipt of all regulatory approvals. The units issued under the offering, 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.
Insiders may participate in the offering and the participation of insiders will be considered a related party transaction, subject to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the participation in the offering by insiders will not exceed 25 per cent of the company's market capitalization.
About Hydrograph Clean Power Inc.
Hydrograph Clean Power is a leading producer of pristine graphene using an "explosion synthesis" process, which allows for exceptional purity, low energy use and identical batches. The quality, performance and consistency of Hydrograph's graphene follows the Graphene Council's Verified Graphene Producer standards, of which very few graphene producers are able to meet.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved. https://www.stockwatch.com/News/Item/Z-C!HG-3625133/C/HG ***
z173