By Devika Patel
Knoxville, Tenn., June 30 - Natcore Technology Inc. said it plans a C$1.25 million non-brokered private placement of units.
The company will sell 3,125,000 units of one common share and one warrant at C$0.40 apiece. The warrants are each exercisable at C$0.75 for two years. If the company's shares close higher than C$1.50 for 20 consecutive trading days, the company may force conversion of the warrants.
Proceeds will be used for research and development.
Based in Red Bank, N.J., Natcore Technology controls a process for thin film growth with applications in solar energy, semiconductors, fiber optics and other industries.
| Issuer: | Natcore Technology Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.25 million
|
| Units: | 3,125,000
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | June 30
|
| Stock symbol: | TSX Venture: NXT
|
| Stock price: | C$0.43 at close June 29
|
| Market capitalization: | C$8.52 million
|
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