RED BANK, N.J., Aug. 19, 2013 /PRNewswire/ -- Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) is pleased to announce that due to overwhelming investor interest it has determined to increase its private placement, as announced on August 9, 2013, to US$3.1 million.
Natcore expects to place 124 units at a price of US$25,000 per Unit for aggregate gross proceeds of US$3,100,000. As previously noted, each unit comprises 50,000 common shares and 50,000 warrants. Each full warrant will entitle the holder to purchase of a further common share at US$0.62 for a period of three years from closing. An aggregate of 6,200,000 shares and 6,200,000 warrants would be issuable on the sale of the 124 units.
Finder's fees may be payable on a portion of the financing. Proceeds of the placement will be applied to further development of the Company's technologies and general working capital. The completion of the placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.
Natcore expects to complete an initial closing of the private placement not later than Wednesday, August 21, 2013 with a complete closing of the private placement occurring on Friday, August 23, 2013.
Statements in this press release other than purely historical factual information, including statements concerning Natcore's intention to raise funds via private placement constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore's business, including risks inherent in the technology industry. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact: Chuck Provini
SOURCE Natcore Technology Inc.