ZEN Graphene Solutions (TSX.V: ZEN)
Announced it has received expression of interest from investors in an amount of $1,777,000 for the non-brokered private placement announced on June 15, 2020.
These expressions of interest have far exceeded management’s expectations.
Thunder Bay, Ontario–(Newsfile Corp. – June 17, 2020) – ZEN Graphene Solutions Ltd. (TSXV: ZEN) (“ZEN” or the “Company“) is pleased to announce it has received expression of interest from investors in an amount of $1,777,000 for the non-brokered private placement (the “Offering“) announced on June 15, 2020.
These expressions of interest have far exceeded management’s expectation and, subject to TSX Venture Exchange (the “Exchange“) approval, the Company is working diligently to complete the Offering.
Management believes that this highlights the progress ZEN has made in becoming an advanced materials graphene company. Following completion of the Offering, ZEN’s cash balance will exceed any balance in recent years thereby ensuring the Company can continue executing its business plan during the COVID-19 pandemic. A subsequent news release will be issued concurrently with the closing of the Offering.
The proceeds of the Offering will be used to fund ongoing work on the Albany Graphite Project including: Graphene research and scale up, COVID-19 initiatives and other graphene application development, and general corporate purposes. 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.
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