By Devika Patel
Knoxville, Tenn., May 14 - Naturally Advanced Technologies Inc. said it plans a C$1.4 million non-brokered private placement of units.
The company will sell 1.4 million units of one common share and one half-share warrant at C$1.00 per unit. Each whole three-year warrant will be exercisable at C$1.25.
Proceeds will be used to advance the development of the company's business and for general corporate and working capital purposes.
Naturally Advanced Technologies, based in Vancouver, B.C., is a Cleantech company focused on providing environmentally friendly textile, composite, biomass and pulping solutions, through the processing of industrial hemp and other bast fiber crops.
| Issuer: | Naturally Advanced Technologies Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.4 million
|
| Units: | 1.4 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$1.25
|
| Agent: | Non-brokered
|
| Pricing date: | May 14
|
| Stock symbol: | TSX Venture: NAT
|
| Stock price: | C$1.15 at close May 14
|
| Market capitalization: | C$38.5 million
|
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