As part of this transaction NanoXplore said it will raise between $2 and $5 million CAD in a private placement. Today NanoXplore announced that it successfully raised the money - and actually managed to raise a much higher sum - almost $9.7 million CAD. NanoXplore will pay 7% of these to the agent in this deal.
This is an important step towards NanoXplore's goal to become a public company and good news for the company. Looking into the future, NanoXplore plans a 10,000 tons graphene facility that will enable it to lower the price of its graphene to $10/kg.