Zen Graphene Solutions Ltd. Announces Non-Brokered Private Placement of Units
Press Release
March 25, 2021
Guelph, ON
ZEN Graphene Solutions Ltd. (“ZEN” or the “Company”) (TSXV: ZEN) announces an offering (the “Offering”) of units (the “Units”) of the Company on a non-brokered private placement basis, for gross proceeds of up to $2,000,000, at a price of $2.50 per Unit. The Offering is subject to TSX Venture Exchange (the “Exchange”) approval.
Each Unit will be comprised of one Common Share of the Company and one-half of one Common Share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to acquire one Common Share at a price of $3.00 for a period of 24 months from the date of issuance. All Warrants issued in connection with the Offering will be subject to an acceleration clause. If the Company’s share price trades on the Exchange at or above $4.00 per share for a period of ten (10) consecutive trading days during the exercise period, the Company may accelerate the expiry date of the Warrants to such date that is 30 calendar days from the date on which a written notice is given by the Company to the Warrant holders.
The proceeds of the Offering will be used for capital expenditures in the scale up of the production of ZEN’s biocidal coating material, operating expenses at both Guelph locations, capital expenditures at the York Rd, Guelph manufacturing facility, graphene research and for general working capital. All securities issued to purchasers under the Offering will be subject to a four-month hold period from the closing date of the Offering, pursuant to applicable securities legislation and policies of the Exchange. Finders’ fees may be paid, as permitted by Exchange policies and applicable securities law.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
If you have any questions, please feel free to contact us at 1-844-730-9822, or email us at info@zengraphene.com
About ZEN Graphene Solutions Ltd.
ZEN is an emerging graphene technology solutions company with a focus on the development of graphene-based nanomaterial products and applications. The unique Albany Graphite Project provides the company with a competitive advantage in the potential graphene market as independent labs in Japan, UK, Israel, USA and Canada have independently demonstrated that ZEN’s Albany Graphite/Naturally PureTM is an ideal precursor material which easily converts (exfoliates) to graphene, using a variety of mechanical, chemical and electrochemical methods.
For further information:
Greg Fenton, Chief Executive Officer
Tel: +1 (437) 220-8140
Email: gfenton@zengraphene.com
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