Nano One Update - August 21

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Nano One Update - August 21

Post by dan_s »

This SIGNIFICANTLY reduces the risk of owning Nano One's stock because they now have all the funding they need to get several royalty agreements in place and become self-funding. Note that the additional $5 million from the Canadian government is a non-dilutive contribution to capital that doesn't have to be paid back.

Nano One Announces Closing of $11,000,000Cdn Private Placement

February 24,2020

Vancouver, Canada (TSX-V: NNO) (OTC-Nasdaq Intl Designation: NNOMF) (Frankfurt: LBMB). Nano One Materials Corp. (“Nano One” or the “Company”) is pleased to announce that it has
closed its previously announced non-brokered private placement of units of the Company (the “Units”) for gross proceeds of approximately $11,000,000 (the “Financing”). In connection with the closing of the Financing, Nano One issued 9,565,000 Units at a price of $1.15 per Unit with each Unit comprising of one common share in the capital of the Company (the “Shares”) and one-half of one common share purchase warrant (the “Warrants”). Each whole Warrant is exercisable into one Share at an exercise price of $1.60 per until February 21, 2023.

The proceeds from the Financing will be used for corporate development, facilities expansion, technology advancement and general working capital.

"Nano One's team has accomplished a tremendous amount," said Nano One CEO Mr. Dan Blondal, "and we are thrilled with the capital market response to this latest placement. The proceeds from this financing will also be leveraged by an additional five million dollars in non-dilutive and non-repayable contributions, that was awarded to Nano One by Sustainable Development Technology Canada in May of 2019. The sum of sixteen million dollars enables us to accelerate business plans and co-development activities including those already underway with Volkswagen, Pulead, Saint-Gobain and other undisclosed global automotive interests."

In connection with the Financing, the Company paid cash finders’ fees to certain finders totaling $554,881 and granted a total of 467,845 warrants (each, a “Finder’s Warrant”). Each Finder’s Warrant is exercisable into one Share at an exercise price of $1.60 per Share until February 21, 2023.

An officer of the Company purchased an aggregate of 10,000 Units and, accordingly, the Financing is a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The participation of the officer is exempt from the formal valuation and minority shareholder approval requirements provided under MI 61-101 in accordance with sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company is relying on an exemption from the formal valuation requirements of MI 61-101 available because the fair market value of the participation in the Financing by the officer does not exceed 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The Company did not file a material change report related to this Financing more than 21 days before the expected closing of the Financing as required by MI 61-101 since the details of the participation by the officer was not settled until shortly prior to the closing of the Financing and the Company wished to close on an expedited basis for sound business reasons.

The securities issued pursuant to the Financing are subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of closing of the Financing. Closing of the Financing is subject to receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.

About Nano One
Nano One Materials Corp has developed patented technology for the low-cost production of high performance lithium ion battery cathode materials used in electric vehicles, energy storage and consumer electronics. The processing technology enables lower cost feedstocks, simplifies production and advances performance for a wide range of cathode materials. Nano One has built a demonstration pilot plant and is partnering with global leaders in the lithium ion battery supply chain, including Pulead, Volkswagen and Saint-Gobain to advance its lithium iron phosphate (LFP), lithium nickel manganese cobalt oxide (NMC) and lithium nickel manganese oxide (LNM) cathode technologies for large growth opportunities in e-mobility and renewable energy storage applications.

Nano One’s pilot and partnership activities are being funded with the assistance and support of the Government of Canada through Sustainable Development Technology Canada (SDTC) and the Automotive Supplier Innovation Program (ASIP) a program of Innovation, Science and Economic Development Canada (ISED). Nano One also receives financial support from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). Nano One’s mission is to establish its patented technology as a leading platform for the global production of a new generation of battery materials. www.nanoone.ca
Dan Steffens
Energy Prospectus Group
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