ZEN Graphene Solutions recently announced a non-brokered private placement, for gross proceeds of up to CAD$2,000,000 (around USD$1.59 million). Now, Zen has updated that due to “strong demand”, it has increased the size of the Offering.
The gross proceeds will now be up to CDN$4,000,000 (over USD$3.16 million) – doubling the initial planned total.
The proceeds of this offering will be used for capital expenditures in the scale up of the production of ZEN’s biocidal coating material, operating expenses at both Guelph locations, capital expenditures at the York Rd, Guelph manufacturing facility, graphene research and for general working capital.
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