Brief: Nanoxplore Announces $30 Mln Private Placement, Expands Relationship With Martinrea

NanoXplore

18/12/2018 18:48

Dec 18 (Reuters) - NanoXplore Inc  GRA.V :
    * NANOXPLORE ANNOUNCES $30 MILLION BOUGHT DEAL PRIVATE
PLACEMENT
AND EXPANDED RELATIONSHIP WITH MARTINREA
    * NANOXPLORE INC - ENTERED INTO UPDATED MEMORANDUM OF
UNDERSTANDING WITH MARTINREA INTERNATIONAL INC
    * NANOXPLORE INC - UNDERWRITERS TO BUY ON "BOUGHT DEAL"
PRIVATE
PLACEMENT BASIS 15.4 MILLION SHARES IN CO AT $1.30/SHARE
    * NANOXPLORE INC - UNDER MOU, MARTINREA WILL SUBSCRIBE FOR
ABOUT
$15 MILLION AS PART OF EQUITY OFFERING
    * NANOXPLORE - AFTER GIVING EFFECT TO EQUITY OFFERING,
MARTINREA
IS EXPECTED TO OWN ABOUT 16% OF ISSUED & OUTSTANDING COMMON
SHARES OF CO
    * NANOXPLORE - INTENDS TO USE NET PROCEEDS OF OFFERINGS FOR
CAPEX
TO EXPAND EXISTING GRAPHENE PRODUCTION PLANT, ADD NEW PRODUCTION
LINES

Source text for Eikon:  urn:newsml:reuters.com:*:nGNXj60sq
Further company coverage:  GRA.V 

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