GMG raises US$10M via private placement of 6.4M shares

Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) has entered into a subscription agreement with a private investor for 6,465,336 ordinary shares at CA$2.15 per share, generating approximately US$10,000,000 in gross proceeds, according to a company press release.

The private placement is subject to approval from the TSX Venture Exchange and is expected to close on or about September 23, 2026. No finder's fees or commissions are associated with the transaction.

The Brisbane, Australia-based company said it intends to use the net proceeds to scale graphene and liquid graphene production capacity, expand battery cell production, commercialize liquid graphene products, and fund working capital and general corporate purposes.

Chief Executive Officer Craig Nicol said the investment "allows for significant production expansion to allow for expected sales in the near term of liquid graphene products and progress our next generation graphene battery."

The ordinary shares issued will be subject to on-sale restrictions in Australia for 12 months from the date of issue. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent an effective registration statement or applicable exemption.

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