Grey Matters Health (CSE:GREY, OTCQB:AGNPD, FRA:AGW0) has closed the first tranche of its non-brokered private placement, raising gross proceeds of C$500,000 through the sale of 1,250,000 units at C$0.40 per unit. Company insiders participated in the first tranche for C$184,000, which Grey Matters said did not exceed 25% of the company's market capitalization.