Alabama Graphite Completes Oversubscribed Non-Brokered Private Placement

Alabama Graphite Corp. (TSXV:ALP,OTCQX:ABGPF) announced that it has closed its previously-announced private placement consisting of 3,480,000 units at a price of $0.15 per Unit for aggregate gross proceeds of approximately $522,000. The Private Placement remains subject to the final approval of the TSX Venture Exchange.
The Company intends to use the net proceeds of the Private Placement for further advancing the Company’s development of its metallurgical process for producing coated spherical purified graphite for use in Lithium-ion batteries.
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