HydroGraph Clean Power Inc. (the “Company” or “HydroGraph”) is pleased to announce the closing of its previously announced non-brokered private placement (the “Offering”). Pursuant to the upsized and subsequently oversubscribed Offering, HydroGraph issued an aggregate of 23,930,003 units of the Company (the “Units”) at a price of $0.16 per Unit for aggregate gross proceeds of $3,828,800.
Net proceeds from the Offering will be used to further commercial activity for the Company’s differentiated graphene products via application development at the GEIC (Graphene Engineering Innovation Center) and other direct customer relationships, production upscaling, business development and general working capital purposes.
?“I would like to thank our existing shareholders, notably Haywood Securities Inc and PowerOne Capital Markets Limited for their continued support, and welcome new shareholders as we close on this oversubscribed financing in support of our patented graphene production technology,” commented Kjirstin Breure, President and CEO. “I envision a sustainable future built on our graphene and look forward to advancing HydroGraph’s application development, scale up and commercialization initiatives as we head into 2025.”
Each Unit consists 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 entitles the holder thereof to purchase one Common Share (each a “Warrant Share”) at a price of $0.24 per Warrant Share for a period of 36 months after the closing date of the Offering (the “Closing Date”).
In connection with the Offering, the Company paid cash finders’ fees to certain finders (the “Finders”) equal to 7% of the gross ?proceeds raised by each Finder, and issued to Finders an aggregate of 1,113,350 finder warrants (each, a “Finder Warrant”), representing ??7% of the aggregate number of Units sold to purchasers introduced to the Company by such ?Finders.? Each finder Warrant entitles the holder thereof to acquire one finder unit (the “Finder ??Units”) at a ?price of $0.16 for a period of 36 months from the Closing Date. Each Finder Unit will ?consist of one Common ?Share and one half of one common share purchase warrant (each ?whole warrant, a “Finder Unit ?Warrant”), and each Finder Unit Warrant will be exercisable to ?purchase an additional Common ?Share at a price of $0.24 per Common Share for a period of ?36 months from the Closing Date.? PowerOne Capital Markets Limited and Haywood Securities Inc. acted as Finders in connection with a portion of the Offering.
?All securities issued in connection with the Offering are subject to a hold period of four ???months and one day from December 12, 2024.?
