G6 Materials raises $5 million CAD, to acquire GO application developer GX Technologies
Ronkonkoma, New York, USA - TheNewswire – March 15, 2021 - G6 Materials Corp. (“G6” or the “Company”) (TSXV: GGG, OTCQB: GPHBF),
G6 Materials (Formerly called Graphene 3D Lab) has made plans to raise $5 million CAD via a non-brokered offering. The company also announced plans to acquire GX Technologies in an all-share deal (worth around $7.5 million CAD).
GX Technologies is developing applications based on graphene oxide. GXT has a cooperative R&D agreement with the US Army Corps of Engineers to develop graphene oxide-based membranes for use in nanofiltration. The deal with GXT is expected to be closed before April 29, 2021. Last month G6 Materials announced a sharp increase in revenues (383%) for the last 6 month, primarily due to strong customer demand for the Company’s air purification products and a one-time payment.
About G6 Materials Corp.
This news release contains forward-looking statements within the meaning of the applicable securities legislation that is based on expectations, estimates and projections as at the date of this news release. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. “Forward-looking information” in this presentation includes information about the Transaction and the Offering; the option to acquire and develop and industrial site in Natchez, MS; the potential for the Company’s long-term growth; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Risk factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Transaction and Offering may not complete on the terms currently anticipated, or at all; the combined company may not acquire or develop an industrial site in Natchez, MS on the terms currently anticipated, or at all; the combined company may not achieve its key milestones and value drivers in the time estimated, or at all; the risks associated with outstanding litigation, if any; risks associated with adoption by industries of graphene-based products health and environmental factors affecting adoption of these technologies; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to U.S. shareholders.
In connection with the forward-looking information contained in this news release, the Company has made assumptions about the ability to complete the Transaction and Financing, including obtaining TSXV final acceptance; the benefits to completing the transaction; and there will be no regulation or law that will prevent the combined company from operating its business. The Company has also assumed that no significant events occur outside of the G6 and GX’s normal course of business.
The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.