Alabama Graphite Announces Proposed Non-Brokered Private Placement Read

Alabama Graphite Corp. (TSXV:ALP,OTCQX:ABGPF) is proposing to complete a non-brokered private placement of up to approximately 4.9 million units at a subscription price of 15 cents per unit for aggregate gross proceeds to the company of up to approximately $735,000. Each Unit is comprised of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.20 for a period of 24 months following the date of issue, subject to customary adjustment provisions.
AGC intends to use the net proceeds of the Private Placement for working capital and further advancing the Company’s development of its metallurgical process for producing coated spherical purified graphite (“CSPG”) for use in Lithium-ion batteries.
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