Natcore Technology Inc. (TSXV:NXT,OTCQB:NTCXF) announced its intent to raise CDN$221,000 via a non-brokered private placement.
As quoted in the press release:
The placement involves the sale of up to 650,000 units at a price of $0.34 per unit. Each unit comprises one common share and one share purchase warrant. Each warrant will entitle the holder to purchase a further common share at $0.40 for a period of 36 months from closing.
Finder’s fees of 7% cash and 7% warrants (on the same terms as the warrants forming part of the units) will be paid in connection with the private placement. Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital. The completion of the placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.