HydroGraph Announces Upsize of Private Placement to $3.5 Million
HydroGraph Clean Power has announced an increase in its non-brokered private placement to $3.5 million from its previously announced offering on November 26, 2024, due to strong investor demand. The offering consists of units priced at $0.16, with each unit comprising one common share and one-half warrant. Each whole warrant allows the purchase of one common share at $0.24 for 36 months after closing.
The proceeds will fund application development at the Graphene Engineering Innovation Center (GEIC), production upscaling, business development, and working capital. The offering is expected to close around December 11th, 2024, subject to regulatory approvals. The company reserves the right to increase the offering size by up to 30% based on market conditions.
HydroGraph Clean Power ha annunciato un aumento del suo collocamento privato non mediato a 3,5 milioni di dollari rispetto all'offerta precedentemente annunciata il 26 novembre 2024, a causa di una forte domanda da parte degli investitori. L'offerta consiste in unità prezzate a 0,16 dollari, con ogni unità composta da un'azione ordinaria e mezza opzione. Ogni opzione intera consente l'acquisto di un'azione ordinaria a 0,24 dollari per 36 mesi dopo la chiusura.
I proventi finanzieranno lo sviluppo di applicazioni presso il Graphene Engineering Innovation Center (GEIC), l'upscaling della produzione, lo sviluppo aziendale e il capitale circolante. Si prevede che l'offerta si chiuda intorno all'11 dicembre 2024, soggetta ad approvazioni normative. La società si riserva il diritto di aumentare la dimensione dell'offerta fino al 30% sulla base delle condizioni di mercato.
HydroGraph Clean Power ha anunciado un aumento en su colocación privada no mediada a $3.5 millones respecto a la oferta previamente anunciada el 26 de noviembre de 2024, debido a la fuerte demanda de los inversores. La oferta consiste en unidades valoradas en $0.16, con cada unidad compuesta por una acción ordinaria y media opción. Cada opción completa permite la compra de una acción ordinaria a $0.24 durante 36 meses después del cierre.
Los ingresos se destinarán al desarrollo de aplicaciones en el Graphene Engineering Innovation Center (GEIC), escalado de producción, desarrollo empresarial y capital de trabajo. Se espera que la oferta se cierre alrededor del 11 de diciembre de 2024, sujeta a aprobaciones regulatorias. La empresa se reserva el derecho de aumentar el tamaño de la oferta hasta un 30% en función de las condiciones del mercado.
HydroGraph Clean Power는 2024년 11월 26일에 발표된 이전 제안에서 강력한 투자자 수요 덕분에 비중개 방식의 사모펀드 규모를 $3.5 백만으로 늘렸다고 발표했습니다. 이 제안은 각각 하나의 보통주와 절반의 워런트로 구성된 0.16달러에 가격이 매겨진 유닛으로 구성됩니다. 각 전체 워런트는 계약 종료 후 36개월 동안 0.24달러에 하나의 보통주를 구매할 수 있는 권리를 부여합니다.
수익금은 그래핀 엔지니어링 혁신 센터 (GEIC)에서의 응용 프로그램 개발, 생산 확대, 비즈니스 개발 및 운영 자본에 사용될 것입니다. 이 제안은 규제 승인을 조건으로 2024년 12월 11일경에 마감될 것으로 예상됩니다. 회사는 시장 조건에 따라 최대 30%까지 제안 규모를 늘릴 권리를 보유합니다.
HydroGraph Clean Power a annoncé une augmentation de son placement privé sans intermédiaire à 3,5 millions de dollars par rapport à l'offre précédemment annoncée le 26 novembre 2024, en raison d'une forte demande des investisseurs. L'offre se compose d'unités au prix de 0,16 dollar, chaque unité comprenant une action ordinaire et une moitié d'option. Chaque option entière permet d'acheter une action ordinaire au prix de 0,24 dollar pendant 36 mois après la clôture.
Les produits financeront le développement d'applications au Graphene Engineering Innovation Center (GEIC), l'échelle de production, le développement commercial et le fonds de roulement. L'offre devrait se clôturer autour du 11 décembre 2024, sous réserve des approbations réglementaires. L'entreprise se réserve le droit d'augmenter la taille de l'offre jusqu'à 30 % en fonction des conditions du marché.
HydroGraph Clean Power hat eine Erhöhung seiner nicht vermittelten Privatplatzierung auf 3,5 Millionen Dollar angekündigt, basierend auf der zuvor am 26. November 2024 angekündigten Offerte, aufgrund der starken Nachfrage von Investoren. Das Angebot besteht aus Einheiten, die zu 0,16 Dollar ausgepreist sind, wobei jede Einheit eine Stammaktie und eine halbe Warrant umfasst. Jeder volle Warrant erlaubt den Kauf einer Stammaktie zum Preis von 0,24 Dollar für 36 Monate nach dem Abschluss.
Die Erlöse sollen die Anwendungsentwicklung im Graphene Engineering Innovation Center (GEIC), die Produktionssteigerung, die Geschäftsentwicklung und das Betriebskapital finanzieren. Es wird erwartet, dass das Angebot rund um den 11. Dezember 2024 abgeschlossen wird, abhängig von den Genehmigungen der Aufsichtsbehörden. Das Unternehmen behält sich das Recht vor, die Angebotsgröße bis zu 30% basierend auf den Marktbedingungen zu erhöhen.
- Increased private placement size to $3.5M due to strong investor demand
- Funds will support commercialization and production expansion
- 36-month warrant exercise price of $0.24 represents 50% premium to unit price
- Potential dilution for existing shareholders through new share issuance
- Four-month hold period restricts immediate trading of new shares
Not for distribution to U.S. newswire services or dissemination in the United States.
All dollar amounts are in Canadian dollars unless otherwise indicated.
VANCOUVER, British Columbia, Dec. 06, 2024 (GLOBE NEWSWIRE) -- HydroGraph Clean Power Inc. (CSE: HG) (OTCQB: HGRAF) (the “Company” or “HydroGraph”), a commercial manufacturer of high-quality graphene and other nanomaterials, is pleased to announce that, due to strong investor demand, it has increased the size of its non-brokered private placement of units (the “Units”), previously announced on November 26, 2024 (the “Offering”). Pursuant to the upsized Offering, the Company will raise aggregate gross proceeds of up to
“HydroGraph is pleased to announce this upsize based off strong shareholder support, which will allow us to significantly expedite our path to market. With this additional capital, we will fund further application development at the GEIC, expand our production capabilities and accelerate our commercial programs” commented Kjirstin Breure, Chief Executive Officer.
Each Unit will consist 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 will entitle the holder thereof to purchase one Common Share (each a “Warrant Share”) at a price of
Net proceeds from the Offering will be used for furthering commercialization via application development at the GEIC (Graphene Engineering Innovation Center) driven by customer interest, production upscaling, business development and general working capital purposes. The Company may pay certain finders a fee in connection with the sale of Units to purchasers introduced to the Company by such finders. The Company reserves the right to increase the size of the Offering by up to
The Offering is expected to close on or about December 11th, 2024, or in any other date or dates as the Company may determine. Closing of the Offering is subject to receipt of all regulatory approvals. The Units issued under the Offering, and the underlying securities, will be subject to certain resale restrictions such as a hold period of four months and a day from the closing date.
Insiders may participate in the Offering and the participation of insiders will be considered a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the Offering by insiders will not exceed
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold in the “United States” or to “U.S. persons” (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About HydroGraph
HydroGraph Clean Power Inc is a leading producer of pristine graphene using an “explosion synthesis” process, which allows for exceptional purity, low energy use and identical batches. The quality, performance and consistency of HydroGraph’s graphene follows the Graphene Council’s Verified Graphene Producer® standards, of which very few graphene producers are able to meet. For more information or to learn about the HydroGraph story, visit: https://hydrograph.com/
For company updates, please follow HydroGraph on LinkedIn and X.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
HydroGraph Investor Relations
Matt Kreps
Darrow Associates
mkreps@darrowir.com
Kjirstin Breure, President and CEO
kjirstin.breure@hydrograph.com
480-267-2556
HydroGraph Media Contact
Raven Carpenter
hydrograph@fox.agency
Forward-Looking Statements
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “upon” “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to: closing of the Offering; anticipated use of proceeds; expected closing date of the Offering; payment of finder’s fees; ability to obtain all necessary regulatory approvals; the statements in regard to existing and future products of the Company; the Company’s plans and strategies. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of HydroGraph to control or predict, that may cause HydroGraph’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: HydroGraph’s ability to implement its business strategies; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. HydroGraph does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.
No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
FAQ
What is the size of HydroGraph's (HGRAF) upsized private placement announced on December 6, 2024?
What are the terms of the warrants in HydroGraph's (HGRAF) December 2024 private placement?
How will HydroGraph (HGRAF) use the proceeds from its December 2024 private placement?
