Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

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)

Copyright © Marketwire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Nano-supercapacitors for electric cars July 25th, 2014

New imaging agent provides better picture of the gut July 25th, 2014

Breakthrough laser experiment reveals liquid-like motion of atoms in an ultra-cold cluster: University of Leicester research team unlocks insights into creation of new nano-materials July 25th, 2014

Scientists Test Nanoparticle "Alarm Clock" to Awaken Immune Systems Put to Sleep by Cancer July 25th, 2014

Investments/IPO's/Splits

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 July 23rd, 2014

Nanometrics Announces Upcoming Investor Events July 22nd, 2014

Harris & Harris Group Invests in UberSeq, Inc. July 16th, 2014

Harris & Harris Group Portfolio Company D-Wave Systems Closes a $28.4 Million Financing July 14th, 2014

Announcements

Nano-supercapacitors for electric cars July 25th, 2014

New imaging agent provides better picture of the gut July 25th, 2014

Breakthrough laser experiment reveals liquid-like motion of atoms in an ultra-cold cluster: University of Leicester research team unlocks insights into creation of new nano-materials July 25th, 2014

Scientists Test Nanoparticle "Alarm Clock" to Awaken Immune Systems Put to Sleep by Cancer July 25th, 2014

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE