By Sheri Kasprzak
New York, March 23 - Material Technologies, Inc. closed a $1 million private placement.
The company sold 2.5 million units comprised of one share of class A stock and one warrant at $0.40 each.
The warrants are exercisable at $0.60 each for three years.
Continental Advisors, SA was the placement agent.
Based in Los Angeles, Material Technologies is a metal fatigue research company.
| Issuer: | Material Technologies, Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $1 million
|
| Units: | 2.5 million
|
| Price: | $0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.60
|
| Placement agent: | Continental Advisors, SA
|
| Settlement date: | March 16
|
| Stock symbol: | OTCBB: MTTG
|
| Stock price: | $1.40 at close March 16
|
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