Deal sells 400 million units of a common share and a five-year warrant
By Devika Patel
Knoxville, Tenn., April 26 – NanoStruck Technologies Inc. said it increased a non-brokered private placement of units to C$4 million from C$2 million. The deal was announced on Aug. 13, when the company said it raised C$1.58 million on Aug. 11.
The company will now sell 400 million units of one common share and one warrant at C$0.01 per unit. It sold 157.9 million units in the first tranche.
Each warrant is exercisable at C$0.05 for five years. This is a 400% premium over the company’s C$0.01 closing share price on April 25.
In addition, the company plans to complete a debt settlement under which up to 100 million common shares may be issued to settle debts at C$0.01 per share for non-insiders and at C$0.05 per share for insiders.
Based in Vancouver, B.C., the company uses nanotechnology solutions to clean wastewater and recover precious metals from mine tailings.
| Issuer: | NanoStruck Technologies Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4 million
|
| Units: | 400 million
|
| Price: | C$0.01
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.05
|
| Agent: | Non-brokered
|
| Announcement date: | Aug. 11, 2015
|
| Upsized: | April 26
|
| Settlement date: | Aug. 11, 2015 (for C$1,579,000)
|
| Stock symbol: | TSX Venture: NSK
|
| Stock price: | C$0.01 at close April 25
|
| Market capitalization: | C$1.3 million
|
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