RED BANK, N.J., Aug. 19, 2013 /PRNewswire/ -- Natcore
Technology Inc. (TSX-V: NXT; NTCXF.PK) is pleased to announce
that due to overwhelming investor interest it has determined to
increase its private placement, as announced on August 9, 2013, to US$3.1
million.
Natcore expects to place 124 units at a price of US$25,000 per Unit for aggregate gross proceeds
of US$3,100,000. As previously noted,
each unit comprises 50,000 common shares and 50,000 warrants. Each
full warrant will entitle the holder to purchase of a further
common share at US$0.62 for a period
of three years from closing. An aggregate of 6,200,000 shares and
6,200,000 warrants would be issuable on the sale of the 124
units.
Finder's fees may be payable on a portion of the
financing. Proceeds of the placement will be applied to
further development of the Company's technologies and general
working capital. The completion of the placement is subject to
regulatory approval, including the approval of the TSX Venture
Exchange.
Natcore expects to complete an initial closing of the private
placement not later than Wednesday, August
21, 2013 with a complete closing of the private placement
occurring on Friday, August 23,
2013.
Statements in this press release other than purely historical
factual information, including statements concerning Natcore's
intention to raise funds via private placement constitute
forward-looking statements. Forward-looking statements are based on
numerous assumptions and are subject to all of the risks and
uncertainties inherent in Natcore's business, including risks
inherent in the technology industry. There can be no assurance that
such forward-looking 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 such statements. Except in accordance with
applicable securities laws, Natcore expressly disclaims any
obligation to update any forward-looking statements or
forward-looking statements that are incorporated by reference
herein.
Neither 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 release.
Contact: Chuck Provini
732-576-8800
Info@NatcoreSolar.com
SOURCE Natcore Technology Inc.