Nano One Materials Completes Acquisition of Perfect Lithium

Battery Metals

Nano One Materials (TSXV:NNO) announced the completion of its previously announced business combination with Perfect Lithium Corp. The company also announced the closing of a financing for proceeds of $3 million.

Nano One Materials (TSXV:NNO) announced the completion of its previously announced business combination with Perfect Lithium Corp. The company also announced the closing of a financing for proceeds of $3 million.

As quoted in the publication:

Pursuant to the Transaction, all outstanding warrants of PLC were exchanged for Nano One warrants to purchase Post Consolidation Shares, with appropriate adjustments to the number and price of shares that may be acquired upon exercise thereof to reflect the Exchange Ratio. All stock options of Nano One and PLC issued prior to the Agreement were cancelled on closing of the Transaction. The Resulting Issuer granted 2,825,000 options to the new management and consultants of the Resulting Issuer upon completion of the Transaction.

Immediately prior to closing of the Transaction, Nano One consolidated all of its issued and outstanding common shares (the “Consolidation”) on the basis of two existing common shares for one new common share (a “Post Consolidation Share”) and one share purchase warrant. Each warrant is exercisable at any time until 4:00 p.m. (EST) on March 5, 2016 to acquire one Post Consolidation Share at an exercise price of $0.40 per Post Consolidation Share and thereafter until 4:00 p.m. (EST) on March 5, 2017 to acquire one-half of one Post Consolidation Share at an exercise price of $0.50 per Post Consolidation Share.

Nano One CEO, Dan Blondal, said:

On behalf of the entire Nano One team, I would like to thank our existing shareholders for their tremendous support and I extend a warm welcome to our new shareholders. I would also like to thank our staff, advisors and partners who have worked so hard to establish the technology and our directors, officers and the syndicate of financiers who have come together to complete this transaction. Listing Nano One on the TSX Venture Exchange sets the stage for the commercialization phase of our technology. Everyone can relate to the pent-up demand for better batteries, so it is an exciting time to be changing the way we make energy storing materials. We have an exceptional team and our technology is well on its way to becoming a leading platform for the production of a new generation of advanced materials.

Click here to read the Nano One Materials (TSXV:NNO) press release

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