Graphene Manufacturing Group to raise $8 million in a public offering

Australia-based Graphene Manufacturing Group (GMG) announced that it is undertaking an overnight marketed public offering of units of the Company, for gross proceeds of up to CDN$10 million ($8 million USD).

GMG says that the proceeds will be used to develop a commercial coin cell graphene aluminum-ion battery prototype, front end design and commence building of a battery manufacturing facility (subject to a successful prototype and a final investment decision) and for working capital and general corporate purposes.

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