Applied Graphite amends $1-million private placement
2025-07-17 11:35 ET – News Release
Mr. Don Baxter reports
APPLIED GRAPHITE ANNOUNCES AMENDMENT TO PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT OF UP TO $1,000,000
Applied Graphite Technologies Corp. has amended the previously announced non-brokered private placement offering to instead offer up to 16,666,667 common shares at a price of six cents per share for gross proceeds of up to $1-million.
Existing insiders of Applied Graphite Technologies intend to purchase a portion of the offering. Participation by insiders of Applied Graphite Technologies in the offering constitutes a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The issuance of securities is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 on the basis that the fair market value of the insiders’ participation in the offering, as determined in accordance with MI 61-101, shall not exceed 25 per cent of the company’s market capitalization.
The offering is scheduled to close on or about July 21, 2025, and is subject to the company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Finders’ fees of 8 per cent in cash may be payable on a portion of the offering. All securities to be issued pursuant to the offering will be subject to a four-month hold period under applicable securities laws in Canada.
The net proceeds of the offering will be used by Applied Graphite Technologies for project development and general working capital purposes.
About Applied Graphite Technologies Corp.
Applied Graphite Technologies is developing the Queens mine complex in Sri Lanka. The Queens mine complex is on private land in the heart of the vein graphite district, with historical workings and vein graphite outcrops. Vein graphite is naturally high grade (greater-than-95-per-cent carbon content in the ground) and does not require primary processing. Testing of vein graphite in lithium-ion battery anodes has shown very high capacities, performing better than synthetic graphite. Natural vein graphite has a far superior ESG (environmental, social and governance) footprint than synthetic and is cheaper without compromising performance.
The technical information in this news release has been prepared by Don Baxter, PEng, a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
We seek Safe Harbor.
Related Posts
Tags
Share This
