Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) has provided an update on its "at-the-market" (ATM) equity program, which was launched on June 13, 2024.
The ATM program enables the company to issue and sell up to $20 million of its ordinary shares at its discretion.
For the quarter ending September 30, 2024, GMG issued 208,000 shares on the TSX Venture Exchange at an average price of C$0.6759 per share, generating gross proceeds of C$140,580.70.
The company paid C$4,217.42 in commissions to Cantor Fitzgerald Canada Corporation, the program’s agent.
GMG continues to focus on energy-saving and energy storage solutions using its proprietary graphene production process.
Its current projects include graphene-enhanced HVAC-R coatings and ongoing collaboration with the University of Queensland to develop G+AI batteries.