Gratomic Inc. (TSX-V:GRAT, OTCQX:CBULF) announced that it has completed the third tranche of a non-brokered private placement offering up to 20,000,000 working capital (WC) units at a price of $0.30 per WC unit for gross proceeds of up to $6 million.
The company said it has raised $3,050,980.50 to date.
Each WC unit consists of one share and one share purchase warrant, with each warrant entitling the holder to purchase one share at a price of $0.45 per WC warrant share until March 29, 2025, Gratomic said.
The securities issued on this closing of the offering are subject to a hold period expiring on July 30, 2023.
Final closing for the remainder of the offering is expected on or before April 11, 2023.
Proceeds from the offering will be used for general working capital and for operating capital at Gratomic’s Aukam project, the company noted.
Gratomic is a multinational company with projects in Namibia, Brazil, and Canada. It is committed to becoming a leading global graphite supplier and aims to establish a strong position in the electric car battery supply chain.
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