VANCOUVER, British Columbia, April 20, 2016 (GLOBE NEWSWIRE) -- Dan Blondal, CEO of Nano One Materials Corp (TSX-V:NNO) (FSE:LBMB), reported today that a total of 9,814,485 common share purchase warrants have been exercised at a price of $0.30 per common share. Proceeds from the exercise of the warrants totalled $2,944,345 and 9,814,485 common shares were issued from Nano One’s treasury.
“This infusion of capital will fuel Nano One’s commercialization activities” said Mr. Blondal. “We are on track to begin fabricating our demonstration pilot plant by the summer and we continue to advance our lithium battery materials technology. The $2.9 million in proceeds adds to the $2.08 million grant approved in early March by Sustainable Development Technology Canada and will support our strategy of demonstrating commercial production of advanced lithium battery cathode materials. We look forward to updating the market on our progress."
Paul Matysek, Chairman of Nano One’s board, exercised a total of 489,834 warrants under the above terms and a portion of the common shares issued are subject to escrow restrictions. Mr. Matysek added “I would like to thank all of our Nano One shareholders for their overwhelming and continuing support. These additional funds put our company on a strong footing and accelerate the execution of our business plan.”
For more information on the warrants discussed in this release please see Nano One’s news release of February 3rd, 2016.
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 (“Nano One” or “the Company”) 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 of 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.
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Source:Nano One Materials Corp.