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NanoXplore Inc. Announces $25,000,000 Bought Deal Private Placement
NanoXplore Inc. Announces $25,000,000 Bought Deal Private Placement Canada NewsWir...
About this update from Nanoxplore, Inc.
[{"type":"text","content":"\n\n\n\nNanoXplore Inc. Announces $25,000,000 Bought Deal Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, March 16, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES/\n MONTREAL, March 16, 2020 /CNW/ - NanoXplore Inc.  (TSX-V: GRA) (\"NanoXplore\" or the \"Company\") is pleased to announce that it has entered into an agreement with Echelon Wealth Partners Inc. (\"Echelon\" or the \"Underwriter\"), to purchase, on a bought deal private placement basis, 19,230,800  Common Shares (the \"Common Shares\") of the Company at a price of $1.30 per Common Share (the \"Issue Price\") for gross proceeds of approximately $25,000,000 (the \"Offering\"). \n\n \n \n \n \n \n \n\n \nThe Offering will be conducted by a syndicate of underwriters led by Echelon as sole bookrunner. The Company has granted the Underwriter an option (the \"Underwriters' Option\") to purchase up to an additional 20% of the Common Shares sold under the Offering, at the Issue Price. The Underwriters' Option may be exercised in whole or in part to purchase Common Shares upon written notice to the Company at any time up to 48 hours prior to the closing date of the Offering.\nThe Company intends to use the net proceeds of the Offering to support sales and marketing of graphene, research initiatives particularly related to the use of graphene in Li-Ion batteries, U.S. expansion, working capital and general corporate purposes.\nThe Company has agreed to grant the Underwriter a cash commission payable on the closing date of the Offering equal to 5% of the aggregate gross proceeds of the Offering (including the Underwriters' Option), other than in respect of Common Shares subscribed for by certain investors (the President's List), in which case the Company shall pay the Underwriter a cash commission equal to 2% of such amount.\nThe Offering will be completed (i) by way of a private placement exemption in all of the provinces and territories of Canada, (ii) on a private placement basis in the United Stat...