TSX-V: GRAT
TORONTO, July 2, 2019 /CNW/ - Gratomic Inc. ("GRAT" or
the "Company") (TSX-V: GRAT) (FRANKFURT:CB81, WKN:A143MR) is
pleased to announce that the non-brokered private placement
announced on May 21, 2019 will be
increased to up to 40,000,000 working capital units (the "WC
Units") for up to $2,000,000 (the
"Offering") and closing will be extended until July 30, 2019.
Each WC Unit is priced at $0.05
and consists of one (1) common share and one (1) common share
purchase warrant ("WC Warrant"). Each WC Warrant
entitles the holder to purchase one (1) common share (a "WC
Warrant Share") at a price of $0.10 per WC Warrant Share until the earlier of:
(i) three (3) years following the Closing of the Offering; and (ii)
in the event that the closing price of the Common Shares on the TSX
Venture Exchange is at least $0.30
for twenty (20) consecutive trading days, and the 20th trading day
(the "Final Trading Day") is at least four (4) months from
the Closing of the Offering, the date which is thirty (30) days
from the Final Trading Day.
Eligible Finders may receive 7% of the value of proceeds of the
sale of WC Units in cash and 7% of the number of WC Units sold in
the form of broker warrants ("Broker Warrants"). Each
Broker Warrant issued in respect of the sale of WC Units entitles
the holder to acquire one (1) common share of the Company at
$0.05 for a period of three (3) years
from the Closing of the Offering.
All securities issued under the Offering are subject to a
statutory four month hold period. The Offering is subject to TSX
Venture Exchange approval.
Insiders of the Company may subscribe for up to 25% of the
Offering. The insider private placements are exempt from the
valuation and minority shareholder approval requirements of
Multilateral Instrument 61-101 ("MI 61-101") by virtue of
the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI
61-101 in that the fair market value of the consideration for the
securities of the Company which may be issued to the insiders does
not exceed 25% of its market capitalization.
About Gratomic Inc.
Gratomic is an advanced materials company focused on mine to
market commercialization of graphite products most notably high
value graphene based components for a range of mass market
products. We are collaborating with a leading European manufacturer
of graphenes to use Aukam graphite to manufacture graphene products
for commercialization on an industrial scale. The company is listed
on the TSX Venture Exchange under the symbol GRAT.
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
FORWARD LOOKING STATEMENTS: This news release
contains forward-looking statements, which relate to future events
or future performance and reflect management's current expectations
and assumptions. Such forward-looking statements reflect
management's current beliefs and are based on assumptions made by
and information currently available to the Company. Investors are
cautioned that these forward-looking statements are neither
promises nor guarantees and are subject to risks and uncertainties
that may cause future results to differ materially from those
expected. These forward-looking statements are made as of the date
hereof and, except as required under applicable securities
legislation, the Company does not assume any obligation to update
or revise them to reflect new events or circumstances. All of the
forward-looking statements made in this press release are qualified
by these cautionary statements and by those made in our filings
with SEDAR in Canada (available
at www.sedar.com).
SOURCE Gratomic
