TSX-V: GGG, OTCQB: GPHBF
/NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA/
VANCOUVER and NEW YORK, Dec. 18, 2015 /CNW/ - Graphene 3D Lab Inc. (TSXV: GGG) ("Graphene 3D" or the "Company") has closed the previously announced non-brokered private placement which was further increased to 4,300,000 units (collectively, the "Units") at CAD$0.25 per Unit, raising CAD$1,075,000 in gross proceeds. Each Unit consists of one common share and one non-transferable share purchase warrant (collectively, the "Warrants"). Each Warrant will entitle the holder to purchase one additional common share of Graphene 3D at a price of CAD$0.30 per share until December 18, 2017. Graphene 3D has paid cash finder's fees equal to 7% of the gross proceeds raised in connection with the financing to arm's length finders in accordance with the policies of the TSX Venture Exchange. All of the securities issued pursuant to this offering have a hold period expiring April 19, 2016.
The net proceeds of this financing will be used for expansion of the Company's business and for general working capital purposes.
About Graphene 3D
Graphene 3D is BC company whose common shares are listed on the TSX Venture Exchange, which now owns all of the issued and outstanding shares of Graphene 3D Lab (U.S.) Inc., a private Delaware corporation, organized on September 3, 2013 ("Graphene US"). Graphene US is in the business of developing, manufacturing, and marketing proprietary polymer nanocomposite graphene-based materials for various types of 3D printing, including fused filament fabrication as well as the design, manufacture and marketing of three-dimensional printers and products for worldwide customers, including in the aerospace and automotive industries, manufacturers of medical prosthetics and the military. Graphene US currently has six US patent applications pending for its technology. For more information on Graphene 3D Lab Inc., visit www.graphene3dlab.com.
FORWARD LOOKING INFORMATION
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Graphene 3D Lab Inc.
For further information: Commercial Inquiries: Daniel Stolyarov, Co-Chief Executive Officer, Telephone: (631) 405-5116, Email: daniel.stolyarov@graphene3Dlab.com; Investor Inquiries: Paul Thomson, Investor Relations Coordinator, Telephone (631) 405-5114, Email: investors@graphene3Dlab.com