A Top-Performing Placement from a Green Tech Manufacturer Goes Free-Trading

January 11, 2022 04:06 PM PST

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Graphene Manufacturing Group Ltd. (TSX-V: GMG)

  • Type of financing: Non-brokered
  • Gross proceeds: $11.55 million
  • Number of units: 5.64 million
  • Price per unit: $2.05
  • Closing date: 09/02/21
  • Today's closing price (Jan. 11): $5.37
  • Share appreciation: 162%
  • Warrants: Full
  • Strike Price: $2.60
  • Expiry date: 09/02/2024
  • Net ROI w/ warrants ($100k investment): $229,512

An overnight marketed offering closed by Australia-based Graphene Manufacturing Group Ltd. (TSX-V: GMG) back in September went free-trading this week, chalking up strong gains for investors in a relatively short time frame.

The company offered 5.64 million units at $2.05 each, with each unit consisting of a common share and a half-warrant. Each full warrant is exercisable at $2.60 until Sept. 2, 2024.

GMG is green-tech company that has developed a proprietary process to manufacture graphene powder for use in battery materials and other applications. Shares of the company began a steep rise in October after it announced the signing of a letter of intent with Bosch to develop a new plant for its graphene manufacturing process. Right after, it announced that it had begun building a pilot plant for graphene aluminum-ion batteries. Since then, nothing has moved the stock too aggressively, though it is certainly supported by a strong market for electric energy technologies and battery metals.

Since those two announcements, shares of the company have jumped $3.02 to $5.32 per share. 

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