HGCPF - HydroGraph Announces $2.0 Million Private Placement | Benzinga
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VANCOUVER, British Columbia, Oct. 30, 2023 (GLOBE NEWSWIRE) -- HydroGraph Clean Power Inc. (CSE: ?HG) (OTCQB:HGCPF) (the "Company" or "HydroGraph"), a commercial manufacturer of high-?quality graphene and other nanomaterials, ?is pleased to announce a non-brokered private placement of units of the Company (the "Units"). The Units are being offered in US dollars and Canadian dollars at the respective prices of US$0.074 and C$0.100 for aggregate gross proceeds of up to $2,000,000 (the "Offering").
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 C$0.180 per Warrant Share for a period of 24 months after the closing date of the Offering.
?"This is an exciting stage of growth we are entering, expanding our application development activities and growing HydroGraph's customer pipeline. Financing commitments by new investors, such as UAE-based Gulf Cryo LLC (www.gulfcryo.com), a major industrial gas supplier, and management will support these key developments and allow us to take advantage of the graphene market opportunity ahead of us," commented Bob Wowk, Chief Financial Officer of ?HydroGraph. ?
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 C$0.180 or greater per Common Share. If the Company ...