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Nano One doubles private placement to $10M

The offering will now consist of 8.7 million units, up from 4.3 million, for a price of $1.15 per unit

Moneybags changing hands
The company plans to use the proceeds for corporate development, facilities expansion, technology advancement and general working capital

Nano One Materials Corp (CVE:NNO) (OTCMKTS:NNOMF) announced that it was increasing its previously-announced private placement to $10 million from $5 million. 

The offering will now consist of 8.7 million units, up from 4.3 million, for a price of $1.15 per unit. Each unit contains one share and one half a share purchase warrant, and a whole warrant entitles its holder to purchase an additional share at a price of $1.60 for up 36 months following the closing date.

READ: Nano One Materials arranges $5M private placement to go forward with facility expansion

The Vancouver-based company plans to use the proceeds for corporate development, facilities expansion, technology advancement and general working capital.

The original $5 million financing was announced on January 30.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Nano One Materials Corp.

Price: 0.97 CAD

TSX-V:NNO
Market: TSX-V
Market Cap: $74.45 m
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