Nano One Increases Private Placement to up to $10,000,000
06 February 2020 - 6:16AM
(TSX-V: NNO) (OTC-Nasdaq Intl Designation: NNOMF)
(Frankfurt: LBMB). Nano One Materials Corp. today
announced that it is increasing the size of its non-brokered
private placement previously announced on January 30, 2020, by up
to an additional $5,000,000 to a total of up to $10,000,000.
The financing will now consist of a total of up to 8,695,652 units
(the “Units”) at a price of $1.15 per Unit for total gross proceeds
of up to $10,000,000.
Each Unit will consist of one common share and one-half of one
common share purchase warrant (each whole such warrant, a
“Warrant”). Each Warrant will entitle the holder to purchase an
additional common share at a price of $1.60 for a period of 36
months from the closing date. The proceeds of this private
placement will be used for corporate development, facilities
expansion, technology advancement, and general working capital. In
connection with the private placement, the Company may pay finder’s
fees in cash or securities or a combination of both, as permitted
by the policies of the TSX Venture Exchange.
The shares issued pursuant to the private placement will be
subject to a hold period under applicable securities laws, which
will expire four months plus one day from the date of closing of
the private placement. Closing of the private placement is subject
to receipt of all necessary corporate and regulatory approvals,
including approval of the TSX Venture Exchange.
Nano One Materials Corp.
Dan Blondal, CEO
For information with respect to Nano One or the contents of this
news release, please contact John Lando (President) at (604)
420-2041 or visit the website at
www.nanoone.ca.
About Nano One
Nano One Materials Corp has developed patented technology for
the low-cost production of high performance lithium ion battery
cathode materials used in electric vehicles, energy storage and
consumer electronics. The processing technology enables lower cost
feedstocks, simplifies production and advances performance for a
wide range of cathode materials. Nano One has built a demonstration
pilot plant and is partnering with global leaders in the lithium
ion battery supply chain, including Pulead, Volkswagen and
Saint-Gobain to advance its lithium iron phosphate (LFP), lithium
nickel manganese cobalt oxide (NMC) and lithium nickel manganese
oxide (LNM) cathode technologies for large growth opportunities in
e-mobility and renewable energy storage applications.
Nano One’s pilot and partnership activities are being funded
with the assistance and support of the Government of Canada through
Sustainable Development Technology Canada (SDTC) and the Automotive
Supplier Innovation Program (ASIP) a program of Innovation, Science
and Economic Development Canada (ISED). Nano One also receives
financial support from the National Research Council of Canada
Industrial Research Assistance Program (NRC-IRAP). Nano One’s
mission is to establish its patented technology as a leading
platform for the global production of a new generation of battery
materials. www.nanoone.ca
Certain information contained herein may constitute
“forward-looking information” under Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements related to the private placement, the use of
proceeds, size and pricing of the private placement, payment of
finder’s fees, receipt of requisite corporate and regulatory
approvals and statements related to financial contributions from
SDTC. Generally, forward-looking information can be identified by
the use of forward-looking terminology such as 'believe', 'expect',
'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may',
'will', 'should', 'ongoing', or variations of such words and
phrases or statements that certain actions, events or results
“will” occur. Forward-looking statements are based on the opinions
and estimates of management as of the date such statements are made
and they are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
statements or forward-looking information, including, without
limitation, the Company’s failure to find suitable purchasers for
the private placement, the Company’s failure to receive all
necessary regulatory approvals and management’s discretion to
reallocate the use of proceeds. Although management of the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements or forward-looking information, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. The
Company does not undertake to update any forward-looking statements
or forward-looking information that is incorporated by reference
herein, except as required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE, REQUIRED BY
APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT
CONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT
SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS,
AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S.
PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
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