Graphene Manufacturing Group Ltd. Commences Trading on OTCQX Under the Symbol GMGMF
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Brisbane, Queensland, Australia--(Newsfile Corp. - February 26, 2024) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) ("GMG" or the "Company") is pleased to announce it begins trading today on the OTCQX market under the symbol "GMGMF".
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The OTCQX® Best Market is for established, investor-focused U.S. and international companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction. Penny stocks, shells and companies in bankruptcy cannot qualify for OTCQX. The companies found on OTCQX are distinguished by the integrity of their operations and diligence with which they convey their qualifications.
GMG has now qualified to trade on the OTCQX® Best Market, having been upgraded from the Pink® market. The two lower-tier markets for OTC trading in the U.S. are the OTCQB® Venture Market and the OTC Pink® market. This upgrade will provide increased transparency in trading for GMG's U.S. investors through its higher levels of reporting and governance.
GMG's Managing Director and CEO, Craig Nicol, commented: "As part of our capital markets access plans, we are delighted to broaden the Company's exposure in the U.S. market through this upgrade. It is a major step toward our corporate development in North America."
GMG's Chairman and Non-Executive Director, Jack Perkowski, commented: "Increasing GMG's presence in the U.S. is of strategic importance for funding our development and growth initiatives. Enabling U.S. investors with increased involvement will expand the Company's future capital opportunities."
About GMG
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").
GMG's 4 critical business objectives are:
- Produce Graphene and improve/scale cell production processes
- Build Revenue from Energy Savings Products
- Develop Next-Generation Battery
- Develop Supply Chain, Partners & Project Execution Capability
For further information please contact:
- Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the upgrade to the OTCQX® Best Market providing increased transparency in trading for GMG's U.S. investors, trading on OTCQX® Best Market being an important step toward the Company's corporate development in North America, increasing the Company's presence in the U.S. being strategically important for future funding of development and growth, and increased U.S. investor involvement expanding the Company's future capital opportunities.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the upgrade to the OTCQX® Best Market resulting in higher levels of reporting and governance which will lead to increased transparency in trading for U.S. investors, that the upgrade to the OTCQX® Best Market is an important step towards the Company's corporate development in North America, that increasing the Company's presence in the U.S. will help fund the Company's development and growth, and that increased U.S. investor involvement will expand the Company's future capital opportunities.
Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the upgrade to the OTCQX® Best Market will not result in a higher level of reporting, that the upgrade to the OTCQX® Best Market will not lead to increase transparency in trading for U.S. investors, that the upgrade to the OTCQX® Best Market will not be an important step towards the Company's corporate development in North America, that increasing the Company's presence in the U.S. will not help fund the Company's development and growth, that increased U.S. investor involvement will not expand the Company's future capital opportunities, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated October 12, 2023 available for review on the Company's profile at www.sedarplus.ca.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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