Alabama Graphite Corp. (CNSX:ALP) announced that it has chosen a syndicate of broker dealers to carry out a private placement. The Company hopes to raise up to $4 million and use the proceeds to fund exploration at its Coosa graphite project.

As quoted in the press release:

It has engaged a syndicate of broker dealers, lead by Global Hunter Securities LLC and including Scarsdale Equities LLC and Ascendiant Capital Markets, Inc. to raise up to $4 million by way of a brokered private placement of units, each unit to consist of one common share and one-half of one common share purchase warrant.

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