… is pleased to announce that it has entered into a letter agreement today, March 15, 2021, (the “LOI”) pursuant to which it intends to acquire all of the issued and outstanding shares of GX Technologies, Inc. (“GX Technologies”, the “Vendor”), in exchange for 25,000,000 common shares (the “Consideration Shares”) of G6 at a deemed price of $0.20 per common share of the Company (the “Transaction”). Simultaneously, the Company is pleased to announce a non-brokered equity financing to raise up to $5,000,000 through the offering of 25,000,000 units (the “Offering”). Each unit is priced at $0.20 and is comprised of one common share of the Company and one-half of one warrant to purchase a common share of the Company at a price of $0.30 for a period of 2 years from the closing date of the Offering.
… Due to growing demand stemming from the global COVID-19 pandemic, G6 recently focused on the development and commercialization of its proprietary graphene-based air filtration and purification system, which is expected to come to market in 2021.
G6 Materials provides graphene-based solutions for a variety of commercial, research and military applications. The company has a growing IP portfolio based on its proprietary technology.
… filed its unaudited financial results for the first quarter of the fiscal year ending August 31, 2020, the highlights of which are included in this news release. The full set of Condensed Interim Consolidated Financial Statements and Management Discussion and Analysis can be viewed by visiting G6’s website at www.g6-materials.com or its profile page on SEDAR at www.sedar.com.