2015-04-29 22:12 ET - News Release
Mr. David Rutkin reports
NATCORE TECHNOLOGY CLOSES FINAL TRANCHE
OF PRIVATE PLACEMENT
Natcore Technology Inc. has completed the
second and final tranche of its proposed non-brokered private placement,
as announced on April 11, 2015. Gross proceeds of $277,900 were raised
through the sale of 397,000 units at a price of 70 cents per unit.
An aggregate of 1,597,050 units were sold in both tranches of the
private placement for aggregate gross proceeds of $1,117,935. Each unit
comprised one common share and one share purchase warrant. Each warrant
entitles the holder to purchase a further common share at 95 cents for a
period of three years.
Aggregate finders' fees of $23,471 in cash and 33,530 warrants, having
the same terms as the warrants issued in the private placement, were
also paid. All securities issued in the final tranche are subject to a hold period
in Canada expiring on Aug. 28, 2015. Additional restrictions may apply
pursuant to Rule 144 of the Securities Act of 1933, as amended, to U.S.
investors. Proceeds of the placement will be applied to further development of the company's technologies and for general working capital.