11:01 AM EDT, 05/22/2024 (MT Newswires) -- HydroGraph Clean Power ( HGCPF ) , a manufacturer of high-quality graphene and other nanomaterials, said Wednesday it intends to complete a non-brokered private placement of units priced at $0.16 each, to raise $1.6 million. The offering may be increased by up to 30%, the company said.

A statement noted each unit will consist of one common share and half of one common share purchase warrant. Each warrant is exercisable for one share at $0.27 each, for 36 months.

Net proceeds will be used to further commercialization via application development at the Graphene Engineering Innovation Center.

The offering is expected to close about June 7.

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