Ceylon Graphite announces $3 million placement to advance K1 and M1 projects to commercial production
2022-04-07 14:18:25 [Print]
Canada's Ceylon Graphite Corp
The company intends to use the net proceeds of the offering to advance its K1 and M1 graphite mines to commercial production. The company anticipates achieving this milestone within one year of the closing of the offering.
. on April 6 announced its intention to complete a private placement pursuant to which it will issue and sell up to 18,750,000 units of the company at a price of $0 . 16 per unit for aggregate gross proceeds of up to $3,000,000.
The company intends to use the net proceeds of the offering to advance its K1 and M1 graphite mines to commercial production. The company anticipates achieving this milestone within one year of the closing of the offering.