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Home > Press > Nanotech Sciences Corp. Completes Capital Pool Company Initial Public Offering

Abstract:
Nanotech Sciences Corp. (the "Corporation"), a capital pool company, announced today that is has completed its initial public offering (the "Offering") by issuing 1,500,000 common shares at a price of $0.20 per common share, for gross proceeds to the Corporation of $300,000.

Nanotech Sciences Corp. Completes Capital Pool Company Initial Public Offering

TORONTO, ONTARIO, Canada | Posted on February 8th, 2008

The common shares of the Corporation are expected to commence trading on the TSX Venture Exchange shortly under the trading symbol of "NAN.P".

Raymond James Ltd. (the "Agent") acted as agent for the Offering. In connection with the Offering, the Agent received an aggregate commission equal to 10% of the aggregate gross proceeds of the sale of the common shares. In addition, the Corporation granted to the Agent compensation options entitling the Agent to purchase up to 150,000 common shares at a price of $0.20 per common share for a period of 24 months from the date the Corporation's common shares are listed on the TSX Venture Exchange. The Agent also received a corporate finance fee.

The Corporation previously received gross proceeds of $100,000 from the sale of 1,000,000 common shares to its directors, officers and insiders (the "Founder's Shares") and $305,000 from the sale of 1,525,000 common shares (the "Private Placement") prior to the Offering.

The net proceeds of the Offering, the Private Placement and the Founder's Shares will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a "Qualifying Transaction" under the capital pool company program of the TSX Venture Exchange.

An aggregate of 1,100,000 of the previously issued and outstanding common shares of the Corporation were placed in escrow in accordance with the policies of the TSX Venture Exchange. An aggregate of 1,000,000 of the common shares are held by the Corporation's directors, officers and insiders and were issued at a price of $0.10 per common share for an aggregate purchase price of $100,000. 100,000 of the common shares are held by a member of the Pro Group (as defined in TSX Venture Exchange Policy 1.1) and were issued at a price of $0.20 per common share for an aggregate purchase price of $20,000.

Upon completion of the Offering, the Corporation granted a total of 402,500 stock options to its officers and directors. Each of the options is exercisable at a price of $0.20 per common share until February 8, 2011.

The directors and officers of the Corporation are Scott Walters, Director, President, Chief Executive Officer, Chief Financial Officer and Secretary; Jason Bullen, Director; and Bryce Bradley, Director.

For additional information, please see the Prospectus of the Corporation dated December 13, 2007.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

####

Contacts:
Nanotech Sciences Corp.
Scott Walters
President and Chief Executive Officer
(416) 369-0374
(416) 369-0602 (FAX)

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