By Sheri Kasprzak
New York, May 30 - NanoSensors, Inc. completed the first tranche of a $1.5 million private placement for $400,000.
In the initial tranche, the company issued 3.2 units at $125,000 each.
Each of the units included 16 million common shares and warrants for 16 million shares.
The warrants are exercisable at $0.04 each for five years.
Proceeds will be used for working capital.
The company intends to sell a total of 12 units.
Located in Santa Clara, Calif., NanoSensors develops sensors used to detect chemicals and explosive agents.
| Issuer: | NanoSensors, Inc.
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| Issue: | Units of 16 million shares and warrants for 16 million shares
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| Amount: | $400,000
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| Units: | 3.2
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| Price: | $125,000
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| Warrants: | For 16 million shares per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.04
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| Settlement date: | May 26
|
| Stock symbol: | OTCBB: NNSR
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| Stock price: | $0.07 at close May 26
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