Business
California Nanotechnologies Announces Closing of Non-Brokered Private Placement
Los Angeles, California--(Newsfile Corp. - March 23, 2026) - California Nanotechnologies Corp. (TSXV: CNO) (OTCID: CANOF) ("Cal Nano" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering"). The Offering consisted of the issuance of 3,119,666 units in the capital of the Company (the "Units") at a price of CA$0.30 per Unit (the "Offering Price") for aggregate gross proceeds of approximately $935,900. Each Unit is...
About this update from Cno Financial Group, Inc.
[{"type":"text","content":"Los Angeles, California--(Newsfile Corp. - March 23, 2026) - California Nanotechnologies Corp. (TSXV: CNO) (OTCID: CANOF) ("Cal Nano" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering"). The Offering consisted of the issuance of 3,119,666 units in the capital of the Company (the "Units") at a price of CA$0.30 per Unit (the "Offering Price") for aggregate gross proceeds of approximately $935,900. Each Unit is comprised of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant shall be exercisable to acquire one additional Common Share at an exercise price of US$0.30 for eighteen months from the closing of the Offering.","length":875,"tagName":"p"},{"type":"text","content":"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 approvals, including the receipt of final approval from the TSX Venture Exchange (the "TSXV").","length":292,"tagName":"p"},{"type":"text","content":"In connection with the Offering, the Company has agreed to pay a cash commission in the aggregate of $825.00 and to issue an aggregate of 154,179 common shares at a deemed price of CAD$0.30 per share, being the same as the Offering Price, to eligible finders. The securities issued pursuant to the Offering and to eligible finders will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws.","length":473,"tagName":"p"},{"type":"text","content":"A certain director of the Company subscribed for an aggregate of 500,000 Units under the Offering, which participation constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value...