Graphite producer Stratmin (ME) has completed a private placement of 1.7 million shares and an equal number of warrants. The warrants are exercisable for one year at 52 cents each.
The placement raised $700,000 which will be used to increase the company’s working capital and finance the company’s pilot graphite mill near Sherbrooke, Que.
The pilot mill will have a capacity of 400 tonnes per year and will allow Stratmin to produce specialty purified graphite products. Also, Stratmin hopes to sell its product internationally.
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