First Graphene (ASX: FGR) has completed a placement to raise $1.5M and open Graphene Engineering Innovation Centre

KEY TAKEAWAYS:

• FGR has completed a placement to raise $1.5m.
• Graphene Engineering Innovation Centre at the University of Manchester officially opened on 10 December 2018.

Advanced materials company, First Graphene Limited (“FGR” or “theCompany”) (ASX: FGR) is pleased to report it has completed a placement of 10 million fully paid ordinary shares at a price of 15¢, with no attaching options to raise $1.5m.

The issue of the 10 million shares is within the Company’s capacity under Listing Rule 7.1 and will not require shareholder approval. The placement was predominantly to existing institutional and family office shareholders. Funds will be used to support the commissioning of the facilities at GEIC and the recruitment of additional sales and technical staff.

Graphene Engineering Innovation Centre (GEIC) Opening
The GEIC was officially opened on 10 December 2018 by His Royal Highness Prince Andrew, Duke of York. The official opening was attended by VIP invitees from the political and
business communities, including FGR Chairman, Warwick Grigor. The official opening will be followed today by an Industry Showcase where 250 industrial attendees are anticipated. This will provide an opportunity for FGR’s UK based staff to meet downstream partners.

Already there is considerable excitement around the development of new projects and collaborations and positive discussions are already progressing on composites, electrochemical manufacturing of Graphene Oxide, concrete and energy storage materials.

As a Tier 1 participant and provider of graphene materials to GEIC FGR is anticipating an increase in collaboration and sales during calendar 2019.

Chairman, Warwick Grigor, stated: “The attendance at the opening of GEIC and the Industry Showcase provides a platform for FGR to display its products to a wider industrial audience. We look to 2019, as a year in which the concept becomes a reality, to when opportunity evolves to delivery. FGR is working on a number of new product verticals that it
expects will lead to a strong sales growth curve as we progress into 2019.”

About First Graphene Limited (ASX: FGR)

First Graphene is an advanced materials company seeking to position itself in the lowest cost quartile of global graphene suppliers. It has developed an environmentally sound and safe method of converting its supplies of ultra-high-grade graphite into the lowest cost highest quality graphene, in bulk quantities.

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