- The 2022 drilling program at Graphano Energy’s (GEL) Lac Aux Bouleaux graphite project in Québec is underway
- To fund the drill program, the company completed a non-brokered private placement raising $1.25 million
- With the funds raised, Graphano plans to continue exploration of its LAB graphite project and looks forward to reaching progressive milestones
- Graphano Energy is an exploration and development company focused on acquiring and developing energy metals resources
- Graphano Energy Ltd. (GEL) opened trading at C$0.485 per share
The 2022 drilling program at Graphano Energy’s (GEL) Lac Aux Bouleaux graphite project in Québec is underway.
To fund the drill program, the company completed a non-brokered private placement raising gross proceeds of $1,250,000.00. Graphano Energy issued 1,562,500 flow-through units priced at $0.80 per FT unit.
The company paid a cash finder’s fee of $75,000.00 and issued an aggregate of 93,750 finders’ warrants.
All securities issued are subject to a hold period expiring on April 24, 2022.
Graphano Energy has been active in the field performing detailed exploration work, which has resulted in several new graphite showings being identified in the eastern and southern areas of the LAB property.
Dr. Luisa Moreno, CEO of Graphano Energy commented,
“With the flow-through financing, we are well positioned to continue our aggressive exploration approach to advance our LAB graphite project and we look forward to reaching progressive milestones that have the potential to create significant shareholder value.”
She added, “Graphano Energy’s stock has been under pressure in part because of our early success, but we are just starting. We are pleased to close the flow-through financing and grateful to all our shareholders for joining us on this exciting journey. We look forward to a great 2022.”
Graphano Energy is an exploration and development company focused on acquiring and developing energy metals resources from exploration to production.
Graphano Energy Ltd. (GEL) opened trading at C$0.485 per share.
