Gratomic Announces Non-Brokered Private Placement
21 Julio 2018 - 12:39PM
Gratomic Inc. (“GRAT” or the “Company”)
(TSX-V:GRAT) (FRANKFURT:CB81) (WKN:A143MR) is pleased to announce
the offering of a non-brokered private placement of up to
20,000,000 working capital units (the “
WC Unit”)
for up to $2,000,000 (the “
Offering”).
Each WC Unit is priced at $0.10 and consists of
one (1) common share and one (1) common share purchase warrant
(“WC Warrant”). Each WC Warrant entitles the
holder to purchase one (1) common share (a “WC Warrant
Share”) at a price of $0.20 per WC Warrant Share until the
earlier of: (i) three (3) years following the Closing of the
Offering; and (ii) in the event that the closing price of the
Common Shares on the TSX Venture Exchange is at least $0.30 for ten
(10) consecutive trading days, and the 10th trading day (the
“Final Trading Day”) is at least four (4) months
from the Closing Date, the date which is thirty (30) days from the
Final Trading Day.
Eligible Finders may receive 5% of the value of
proceeds of the sale of WC Units in cash and 5% of the number
of WC Units sold in the form of broker warrants (the
“Selling Commission”). Each broker warrant
(a “Broker Warrant”) issued in respect of the sale
of WC Units entitles the holder to acquire one (1) common share of
the Company at $0.10 for a period of three (3) years from the
Closing of the Offering. The Company has agreed to pay First
Republic Capital Corporation (“First Republic”) a
corporate finance fee equal to 2% of the gross proceeds of the
Offering and issue to First Republic corporate finance Broker
Warrants equal to 2% of the aggregate number of WC Units as
consideration for waiving its right of first refusal in respect of
the Offering. First Republic will have the right to place up
to $250,000 of the Offering with its clients and will receive a
Selling Commission in respect of any WC Units placed.
The Offering is expected to close on or before
August 3, 2018, subject to TSX Venture Exchange approval, or such
other date as is agreed between the Company and the subscribers.
All securities issued under the Offering are subject to a statutory
four-month hold period.
Insiders of the Company may subscribe for up to
25% of the Offering. The insider private placements are exempt from
the valuation and minority shareholder approval requirements of
Multilateral Instrument 61-101 (“MI 61-101”) by
virtue of the exemptions contained in sections 5.5(a) and 5.7(1)
(a) of MI 61-101 in that the fair market value of the consideration
for the securities of the Company which may be issued to the
insiders does not exceed 25% of its market capitalization.
About Gratomic Inc.
Gratomic Inc. is an advanced materials company
focused on mine to market commercialization of graphite products
most notably high value graphene based components for a range of
mass market products.
For more information: visit the website at
www.gratomic.ca or contact: Arno Brand, Co-CEO +1 416-561-4095
abrand@gratomic.ca
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release
contains forward-looking statements, which relate to future events
or future performance and reflect management’s current expectations
and assumptions. Such forward-looking statements reflect
management’s current beliefs and are based on assumptions made by
and information currently available to the Company. Investors are
cautioned that these forward-looking statements are neither
promises nor guarantees and are subject to risks and uncertainties
that may cause future results to differ materially from those
expected. These forward-looking statements are made as of the date
hereof and, except as required under applicable securities
legislation, the Company does not assume any obligation to update
or revise them to reflect new events or circumstances. All of the
forward-looking statements made in this press release are qualified
by these cautionary statements and by those made in our filings
with SEDAR in Canada (available at www.sedar.com).
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