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Black Swan Graphene Announces Closing of $6M Equity Financing
Toronto, Ontario--(Newsfile Corp. - February 12, 2025) - Black Swan Graphene Inc. (TSXV: SWAN) (O...
About this update from Black Swan Graphene Inc
[{"type":"text","content":"Black Swan Graphene Announces Closing of $6M Equity FinancingToronto, Ontario--(Newsfile Corp. - February 12, 2025) - Black Swan Graphene Inc. (TSXV: SWAN) (OTCQB: BSWGF) (FSE: R96) (\"Black Swan\" or the \"Company\") is pleased to announce that, further to its news release dated February 5, 2025 and following Black Swan's 8:1 share consolidation effective February 10, 2025, it has closed its non-brokered private placement of units (each, a \"Unit\") of the Company at a price of $0.50 per Unit for gross aggregate proceeds of $6,000,000 (the \"Offering\").Each Unit is comprised of one common share (each, a \"Share\") in the capital of the Company and one-half of one transferable share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one additional Share (each, a \"Warrant Share\") at a price of $1.00 per Warrant Share for a period of eighteen (18) months following the date of closing of the Offering (the \"Closing\"), expiring August 11, 2026.Capacity Expansion and Corporate PositioningSimon Marcotte, President and Chief Executive Officer, commented: \"I am very pleased to welcome an extremely strong group of international investors as well as to thank our existing investors for their support in this financing. I believe Black Swan is poised to deliver on its plan for commercialisation and growth over the course of 2025. This financing enables us to accelerate our expansion, scale production, and expand our sales team to drive global commercialization of our graphene-enhanced solutions. The potential of our graphene in industrial applications, notably our Graphene Enhanced Masterbatch (\"GEM\") in the plastics and polymer sector, combined with our partnerships in the concrete/cement sector, positions us to lead the industry in material innovation. Building on a series of successful agreements, partnerships, and ongoing discussions with potential clients, the Company plans to use a portion the proceeds from the Offering to acquire and install additional equipment at our facility at Consett, United Kingdom. This expansion will significantly boost production capacity from approximately 30-40 tonnes per year to an impressive 140 tonnes annually, enabling the Company to meet expected increasing market demand while continuing to support customer-driven development initiatives wit...