Nano One Receives $845,625 from Early Warrant Exercise Incentive Program
August 28 2019 - 3:08AM
(TSX-V: NNO) (OTC-Nasdaq Intl Designation: NNOMF)
(Frankfurt: LBMB). Nano One Materials Corp. ("Nano One" or
the "Company") is pleased to announce that, further to its press
release dated July 31, 2019, it has received gross proceeds of
$845,625 from the exercise of 676,500 share purchase warrants at
$1.25 per share pursuant to its early warrant exercise incentive
program (the “Program”).
As an incentive for the early exercise of their
share purchase warrants, warrant holders received an additional
676,500 new share purchase warrants (each an "Incentive Warrant").
Each Incentive Warrant entitles the holder to purchase one common
share of the Company for a period of 14 months from the date of
issuance of such Incentive Warrant, at a price of $1.60. The
Incentive Warrants are subject to a four month hold period from the
date of issuance.
The Incentive Warrants are also subject to an
accelerated expiry if the volume weighted average price of the
common shares is greater than or equal to $2.00 for any 10
consecutive trading days and, if the Company has given notice, the
Incentive Warrants will expire 30 days following the date of such
notice.
The balance of the 1,054,490 warrants not
exercised under the Program will remain outstanding and continue to
be exercisable for common shares of the Company on their current
terms, with an expiry date of September 8, 2019.
Mr. Dan Blondal, CEO of Nano One, said "We are
pleased with shareholder support and with the positive outcome of
this incentive program. This strengthens our cash position,
leverages non-dilutive government funding and demonstrates investor
confidence in the execution of Nano One's business plans."
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) 420-2041 or visit the website
at www.nanoone.ca.
About Nano One
Nano One Materials Corp (“Nano One” or “the Company”) has
developed patented technology for the low-cost production of high
performance lithium ion battery cathode materials used in electric
vehicles, energy storage and consumer electronics. The processing
technology enables lower cost feedstocks, simplifies production and
advances performance for a wide range of cathode materials. Nano
One has built a demonstration pilot plant and is partnering with
global leaders in the lithium ion battery supply chain, to advance
its NMC, LFP and LMN cathode technologies for large growth
opportunities in e-mobility and renewable energy storage
applications.
Nano One’s pilot and partnership activities are being funded
with the assistance and support of the Government of Canada through
Sustainable Development Technology Canada (SDTC) and the Automotive
Supplier Innovation Program (ASIP) a program of Innovation, Science
and Economic Development Canada ISED). Nano One also receives
financial support from the National Research Council of Canada
Industrial Research Assistance Program (NRC-IRAP). Nano One’s
mission is to establish its patented technology as a leading
platform for the global production of a new generation of battery
materials. www.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 execution of the Company’s plans which are
contingent on the receipt of grant monies and the commercialization
of the Company’s technology and patents. 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 the Company to be materially different from
those expressed or implied by such forward-looking statements or
forward-looking information, including: the ability of the
Company to obtain additional financing; including the receipt of
grant monies from SDTC, ASIP, NRC-IRAP and the receipt of all
necessary regulatory approvals. Although management of the Company
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. The
Company 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
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