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California Nanotechnologies Announces Non-Brokered Private Placement and Shares for Debt Exchange
Los Angeles, California--(Newsfile Corp. - September 14, 2023) - California Nanotechnologies Corp...
About this update from California Nanotechnologies Corp.
[{"type":"text","content":"California Nanotechnologies Announces Non-Brokered Private Placement and Shares for Debt ExchangeLos Angeles, California--(Newsfile Corp. - September 14, 2023) - California Nanotechnologies Corp. (TSXV: CNO) (\"Cal Nano\" or the \"Company\") is pleased to announce that it intends to complete a non-brokered private placement of up to 8,333,333 units of the Company (the \"Units\") at a price of C$0.15 per Unit for total gross proceeds to the Company of up to C$1,250,000 (the \"Offering\"). The Offering is subject to an over-allotment option allowing the Company to increase the Units sold by an additional 1,666,667 Units for additional proceeds of C$250,000, if fully exercised (the \"Over-Allotment Option\"). Each Unit will be comprised of one (1) common share in the capital of the Company (each, a \"Common Share\") and one half (0.5) of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall be exercisable to acquire one (1) additional Common Share at an exercise price of C$0.25 for two years from the closing of the Offering.The Company intends to use the net proceeds raised from the Offering for general working capital and corporate purposes. The Offering is subject to the receipt of all necessary regulatory and other approvals, including the receipt of approval from the TSX Venture Exchange (the \"TSXV\"). Finder's fees may be payable in connection with the Offering. The securities in the Offering will be offered by way of the \"listed issuer\" exemption under National Instrument 45-106 - Prospectus Exemptions in all the provinces of Canada with the exception of Quebec (the \"Selling Jurisdictions\"). The securities are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada, other than securities acquired by insiders which shall be subject to a hold period of four months pursuant to TSXV policies. An offering document related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and at the Company's website at www.calnanocorp.com will be filed in the next three business days, and the Company will not solicit an offer to purchase securities under the Offering until the offering document is posted. Prospective investors should read this offering document before making an investment decisio...