Business
Nano One Announces Launch Of Early Warrant Exercise Incentive Program
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2019) - Nano One Materials Corp. (TSX...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Announces Launch Of Early Warrant Exercise Incentive ProgramVancouver, British Columbia--(Newsfile Corp. - July 31, 2019) - Nano One Materials Corp. (TSXV: NNO) (OTC Pink: NNOMF) (FSE: LBMB) (\"Nano One\" or the \"Company\") is pleased to announce a warrant exercise incentive program (the \"Program\") designed to encourage the early exercise of up to 1,650,000 of its outstanding unlisted warrants (the \"Warrants\") exercisable for common shares of the Company (\"Common Shares\"). The Warrants are currently exercisable at a price of CAD $1.25 per Common Share until September 8, 2019. The Program will commence August 8, 2019, at 9:00 a.m. PDT and expire on August 23, 2019, at 5:00 p.m. PDT (the \"Early Exercise Period \"). Under the Program, the Company is offering an inducement to each Warrant holder that exercises their Warrants prior to August 23, 2019 (the \"Early Exercise Expiry Date\"), by the issuance of one additional share purchase warrant for each warrant early exercised. Each new warrant (the \"Incentive Warrant\") will entitle the holder to purchase one additional Common Share for a period of 14 months from the date of issuance of such Incentive Warrant, at a price of CAD $1.60. The Incentive Warrants will be subject to a four month hold period from the date of issuance.The Incentive Warrants are subject to an accelerated expiry if the volume weighted average price of the common shares is greater than or equal to CAD $2.00 for any 10 consecutive trading days and, if the Company has given notice, the Incentive Warrants will expire 30 days following the date of such notice.If all of the Warrants are exercised during the Early Exercise Period, Nano One would:receive gross proceeds of CAD $2,062,500 million on or before the Early Exercise Expiry Date; issue 1,650,000 common shares pursuant to the exercise of the Warrants by holders in accordance with the original terms of the Warrants; and issue 1,650,000 Incentive Warrants to Warrant holders pursuant to the early exercise of the Warrants on or before the Early Exercise Expiry Date.The terms and conditions of the Program and the method of exercising Warrants pursuant to the Program will be set forth in a letter to be mailed to the registered address of each Warrant holder which will be posted on SEDAR.Holders of Warrants who elect to participate in the Program wil...