- Graphite Corp. (CYL) has announced that it has upsized its private placement for gross proceeds of up to $3.5 million
- The company will issue up to 21,875,000 units at a price of $0.16 per unit
- Each unit will consist of one common share of the company and one common share purchase warrant
- Each warrant will entitle the holder to acquire one share of the company at a price of $0.25 for a period of 36 months following the closing of the offering
- Ceylon Graphite is in the business of mining graphite and developing and commercializing innovative graphene and graphite applications and products.
- Ceylon Graphite Corp. is down 2.56 per cent, trading at C$0.19 per share at 3:15 pm ET.
Graphite Corp. (CYL) has upsized its private placement for gross proceeds of up to $3,500,000.
The company will issue up to 21,875,000 units at a price of $0.16 per unit.
Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one share of the company at a price of $0.25 for a period of 36 months following the closing of the offering.
In connection with the offering, the company may pay finders’ fees in cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange. PowerOne Capital Markets Limited and Primary Capital Inc. will act as finders in connection with the offering.
All securities issued in connection with the offering will be subject to a four-month and one-day hold period. The offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
Ceylon Graphite is in the business of mining graphite and developing and commercializing innovative graphene and graphite applications and products.
Ceylon Graphite Corp. is down 2.56 per cent, trading at C$0.19 per share at 3:15 pm ET.
