VANCOUVER, British Columbia, March 29, 2016 (GLOBE NEWSWIRE) -- Nano One Materials Corp. (TSX-V:NNO) (Frankfurt:LBMB) (“Nano One”) reports that a shareholder of Nano One has arranged a sale of 1,500,000 common shares of Nano One at a price of $0.335 per share to a US institutional shareholder through the facilities of the TSX Venture Exchange.
The proceeds of this sale will be used to fund a private placement of 1,406,250 shares of the Company at a price of $0.32 per share for gross proceeds to Nano One of $450,000. The proceeds of this private placement will be used for technology and corporate development, and general working capital.
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) 669-2701 or visit the website at www.nanoone.ca.
About Nano One
Nano One Materials Corp. is developing novel, scalable and low-cost processing technology for the production of high performance battery materials used in electric vehicles, energy storage and consumer electronics. The patented technology can be configured for a wide range of nanostructured materials and has the flexibility to shift with battery market trends and a diverse range other growth opportunities. The novel three-stage process uses equipment common to industry and is being engineered for high volume production and rapid commercialization. Nano One’s mission is to establish its patented technology as a leading platform for the global production of a new generation of nanostructured composite materials. For more information, please visit nanoone.ca
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, the use of proceeds of the private placement. 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 Nano One to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the receipt of all necessary regulatory approvals. Although management of Nano One 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. Nano One 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
Source:Nano One Materials Corp.