First Graphene sets sights on $3.5m raising
PERTH (miningweekly.com) – ASX-listed First Graphene will place some 23.3-million shares, at a price of 15c each, to raise A$3.5-million.
The company told shareholders that the placement to institutional and sophisticated investors would be conducted under its existing placement capacity, and will not require shareholder approval.
The funds raised will be used for general working capital and to advance First Graphene’s facility at the Graphene Engineering Innovation Center at the University of Manchester and to increase its efforts to expand the sales and marketing functions of the company.
First Graphene will provide the University of Manchester with graphene products for research, over a three-year period, to explore opportunities to develop and commercialise its two-dimensional materials, and to accelerate the adoption of these materials into commercially viable markets.
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