Tickers: XOTC:GPHBF, XTSX:GGG
Tags: Mining
Calverton, NY / TheNewswire / Graphene 3D Lab Inc. (the "Company" or "Graphene") today announces that it has received a gross proceed of $1,246,051 from the exercise of 10,383,760 warrants.
On November 20, 2017 the Company announced its intention to reprice 11,360,350 warrants to $0.12. TSX Venture Exchange approved the repricing of 11,081,010 warrants, which included 367,660 of total 647,000 insiders' warrants.
On December 20, 2017 the Company advised that the expiry period of the warrants had been amended to January 18, 2018 as per TSX Venture Exchange policy.
As of January 18, 2018 10,383,760 warrants are exercised and 706,250 unexercised warrants expired and have been cancelled.
There are 457,402 warrants with strike price of $0.25 left outstanding. These warrants were not subject to repricing and accelerated expiry provisions. Out of the remaining warrants, 279,340 warrants belong to insiders set to expire on July 11, 2018, 135,625 warrants issued as a part of the finder's fee in the private placement in September 13, 2016 are set to expire in September 13, 2018 and 42,437 warrants issued as a part of the finder's fee in the private placement in September 29, 2016 are set to expire in September 29, 2018.
Daniel Stolyarov, the President and co-CEO commented: "We are pleased to receive such strong support from our shareholders. With the warrant proceeds, the Company is starting the year of 2018 with solid cash position. Together with $500,000 grant that we received from the State of New York in December 2017, these funds will allow our company to accomplish expeditiously the relocation of operations to the new facility, establish better infrastructure, install industrial scale equipment, and increase production for rapid growth of Graphene 3D Lab's business."
About Graphene 3D Lab, Inc.
Graphene 3D Lab, Inc. is a world leader in the development, manufacturing, and marketing of proprietary composites and coatings based on graphene and other advanced materials. These diverse materials have a wide spectrum of commercial, research, and military applications. The Company's wholly-owned subsidiary, Graphene Laboratories Inc., currently offers over 100 graphene and related products to a client list comprised of more than 12,000 customers worldwide, including nearly every Fortune 500 tech company and major research university. Some notable clients are: NASA, Ford Motor Co., GE, Apple, Xerox, Samsung, Harvard University, IBM, and Stanford University. The Company's suite of products is available online at the company's e-commerce platform Graphene Supermarket (www.graphene-supermarket.com).
The 3D printing division of the Company offers a portfolio of 3D printable filaments. These materials can be purchased through multiple distribution networks worldwide or directly from the web-store www.blackmagic3D.com.
Adhesive materials produced by the company are distributed under G6-EpoxyTM trade name and can be purchased at https://g6-epoxy.com/.
The Graphene 3D facility is located in Calverton, NY and is equipped with material processing and analytical equipment. The company has eight US patent applications pending for its technology. For more information on Graphene 3D Lab Inc., visit www.graphene3dlab.com.
ON BEHALF OF THE BOARD
Daniel Stolyarov, President & Co-CEO
For More Information:
Daniel Stolyarov Co-Chief Executive Officer Telephone: (631) 405-5116 Email: daniel.stolyarov@graphene3Dlab.com | Jeff Dare, Corporate Secretary, Telephone: (778) 327-5799 Ext 308 Email: jeff.dare@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.
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