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Natcore Technology Inc.(TSXV:NXT) has completed the first tranche of its proposed non-brokered private placement, as announced previously. Gross proceeds of $210,000 were raised through the sale of one million units at a price of 21 cents per unit. Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to purchase a further common share at 25 cents for a period of three years.
Natcore Technology Inc.(TSXV:NXT) has completed the first tranche of its proposed non-brokered private placement, as announced previously. Gross proceeds of $210,000 were raised through the sale of one million units at a price of 21 cents per unit. Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to purchase a further common share at 25 cents for a period of three years.
Finders’ fees were paid in connection with the initial tranche of $14,700 payable in cash and 70,000 finders’ warrants having the same terms of the warrants issuable in the units.
All securities issued in the initial tranche are subject to a hold period in Canada expiring on April 6, 2017. Proceeds of the placement will be applied to further develop the company’s technologies and for general working capital.
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