Las Vegas, NV -- (SBWIRE) -- 09/16/2013 -- American Graphite Technologies Inc (OTCBB:AGIN) announced that the company closed a $600,000 unregistered offering of securities with five accredited investors on 9th September, 2013,. Palladium Capital Advisors of New York acted as the placement agent for the offering.
The offering was undertaken by way of a securities purchase agreement for 4,000,000 units at $0.15 per unit. Each unit consist of one share of common stock and one share purchase warrant with the title of holder to purchase one additional share of common stock at a price of $0.30 per share for a period of five years.
CEO of American Graphite Technologies Inc, Rick Walchuk said that he was very pleased with the closing of the financing as it allows the company to move forward with its mining initiatives as well as its technology projects. He said that the team of the company is currently preparing the next stages of development on each project and I hope to have further news out shortly.
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