Wednesday, April 29, 2015

Natcore closes $277,900 final tranche of placement

2015-04-29 22:12 ET - News Release

Mr. David Rutkin reports

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.

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