Business
Nano One Receives $2.9 Million in Warrant Exercise Funds
Vancouver, British Columbia--(Newsfile Corp. - April 20, 2016) - Dan Blondal, CEO of Nano On...
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Receives $2.9 Million in Warrant Exercise FundsVancouver, British Columbia--(Newsfile Corp. - April 20, 2016) - Dan Blondal, CEO of Nano One Materials Corp (TSXV: NNO) (FSE: LBMB), reported today that a total of 9,814,485 common share purchase warrants have been exercised at a price of $0.30 per common share. Proceeds from the exercise of the warrants totalled $2,944,345 and 9,814,485 common shares were issued from Nano One's treasury. \"This infusion of capital will fuel Nano One's commercialization activities\" said Mr. Blondal. \"We are on track to begin fabricating our demonstration pilot plant by the summer and we continue to advance our lithium battery materials technology. The $2.9 million in proceeds adds to the $2.08 million grant approved in early March by Sustainable Development Technology Canada and will support our strategy of demonstrating commercial production of advanced lithium battery cathode materials. We look forward to updating the market on our progress.\"Paul Matysek, Chairman of Nano One's board, exercised a total of 489,834 warrants under the above terms and a portion of the common shares issued are subject to escrow restrictions. Mr. Matysek added \"I would like to thank all of our Nano One shareholders for their overwhelming and continuing support. These additional funds put our company on a strong footing and accelerate the execution of our business plan.\"For more information on the warrants discussed in this release please see Nano One's news release of February 3rd, 2016.NANO ONE MATERIALS CORP.Dan Blondal, CEO For information with respect to Nano One or the contents of this news release, please contact John Lando (President) at (604) 669-2701 or visit the website at www.nanoone.ca.About Nano OneNano One Materials Corp (\"Nano One\" or \"the Company\") is developing novel, scalable and low-cost processing technology for the production of high performance battery materials used in electric vehicles, energy storage and consumer electronics. The patented technology can be configured for a wide range nanostructured materials and has the flexibility to shift with battery market trends and a diverse range other growth opportunities. The novel three-stage process uses equipment common to industry and is being engineered for high volume production and rapid commercialization. Nano One's mission is...