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Angel Grafoid

Published on July 9th, 2013 | by Ted Liu

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Grafoid secures $3.5 million US private funding

Grafoid Inc. has raised US $3,532,000 from qualified US investors through the issue of 7,064,000 common shares at a price of US $0.50 per share.

Grafoid engaged a New York-based broker-dealer to act as a non-exclusive placement agent in connection with the Offering.

In addition, during the first half of 2013, Grafoid raised CDN $1,663,530 by issuing a total of 3,327,060 common shares at a price of CDN $0.50 per share in a non-brokered private offering with various business partners, collaborators and qualified investors in Canada.
said the financing represented a major step towards Grafoid’s future growth in the global technology market.

“This closing is the next corporate step in Grafoid’s development. The interest expressed by U.S. and Canadian investors at this time bodes well for our company,” said Grafoid President and CEO Gary Economo. “Our strategy is to create a world-leading graphene research, development and investment company. Coupled with the rollout of our global platform in Singapore and launch of Grafoid’s MesoGraf™, this financing round moves us a step closer to the construction of our MesoGraf™ production facilities.”/blockquote>

Ottawa Grafoid is a privately-held graphene research, development and investment company partnered with Focus Graphite Inc., owner of the high-grade Lac Knife, Quebec graphite deposit.

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About the Author

Ted is an editor of CanadianPrivateEquity.com and Research Director for CVCA - Canada's Venture Capital and Private Equity Association. Ted has been following Canadian venture capital and private equity industry since 1993.



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