Toronto (pcJ News Briefs) – Alabama Graphite Corp. (TSX-V: CSPG; OTCQB: CSPGF; FSE: 1AG) intends t close a non-brokered private placement of up to 5,000,000 units at $0.15 per unit for gross proceeds of up to approximately $750,000.
Each Unit is comprised of one common share and one common share purchase warrant entitling the holder to purchase one additional common share at an exercise price of $0.20 for a period of 36 months following the date of issue.
Alabama Graphite intends to use the net proceeds for working capital and production, full electrochemical testing and characterization of significant quantities of Coated Spherical Purified Graphite (CSPG) engineered for use in lithium-ion (Li-ion) battery anodes and Delaminated Expanded Graphite (DEXD”) engineered for use as a conductivity enhancement diluent in Li-ion battery cathodes.
This fully characterized and tested battery-ready material will be conveyed to satisfy outstanding material requests from both existing United States Department of Defense (DoD) battery manufacturers and contractors, non-DoD entities, and new potential end users.
Alabama Graphite Corp. is a Canadian-based flake graphite exploration and development company as well as an aspiring battery materials production and technology company. Alabama Graphite Corp. is focused on the exploration and development of its flagship Coosa Graphite Project in Coosa County, Alabama, and its Bama Mine Project in Chilton County, Alabama as well the research and development of its proprietary manufacturing and technological processing process of battery materials.
photo credit: Alabama Graphite