On January 11, 2019, NanoXplore, Inc. (TSXV:GRA) closed the transaction. The company issued 16,44,800 common shares, including 760,800 common shares issued pursuant to over-allotment option, for gross proceeds CAD 20,988,240 and convertible unsecured subordinate debentures for CAD 10,000,000, for total gross proceeds of CAD 30,988,240. The transaction involved participation from 13 investors including Martinrea International Inc. (TSX:MRE) for 11,538,000 shares, and BDC Venture Capital for debentures.

All of the securities issued under the transaction are subject to a statutory hold period which will expire on May 12, 2019 in accordance with applicable Canadian securities laws. The transaction was over-subscribed. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.