Graphene 3D Lab Inc. Closes $430,000 First Tranche of Private Placement

September 14, 2016 –Calverton, NY and Vancouver, BC — Graphene 3D Lab (TSXV:GGG, OTCQB:GPHBF) today announced that it has closed the first tranche of the private placement of units, announced on August 30, 2016. The Company issued 2,687,500 units at a price of $0.16 per unit for gross proceeds of $430,000.
Each unit consisted of one common share and one common share purchase warrant. Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.25 per share.
All securities issued will be subject to a four-month hold period with expiring on January 14, 2017. The Company intends to use the proceeds of the private placement for general working capital purposes.
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