By Devika Patel
Knoxville, Tenn., May 21 - Naturally Advanced Technologies Inc. said it settled a C$1.42 million non-brokered private placement of units. The deal priced May 14 and was increased to C$1.5 million from C$1.4 million on May 18.
The company sold 1,424,739 units of one common share and one half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.25 until May 19, 2013.
Proceeds will be used to advance the development of the company's business and for general corporate and working capital purposes.
Naturally Advanced Technologies, based in Vancouver, B.C., is a Cleantech company focused on providing environmentally friendly textile, composite, biomass and pulping solutions, through the processing of industrial hemp and other bast fiber crops.
| Issuer: | Naturally Advanced Technologies Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,424,739
|
| Units: | 1,424,739
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 19, 2013
|
| Warrant strike price: | C$1.25
|
| Agent: | Non-brokered
|
| Pricing date: | May 14
|
| Upsized: | May 18
|
| Settlement date: | May 21
|
| Stock symbol: | TSX Venture: NAT
|
| Stock price: | C$1.15 at close May 14
|
| Market capitalization: | C$38.7 million
|
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