Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Nanotech Sciences Corp. Announces Qualifying Transaction

Abstract:
Nanotech Sciences Corp. ("Nanotech") (TSX VENTURE:NAN.P) is pleased to announce that it entered into an agreement in principal with Natcore Technology, Inc. ("Natcore") on June 19, 2008, in respect of a proposed "qualifying transaction" for the purposes of the policies of the TSX Venture Exchange (the "Exchange").

Nanotech Sciences Corp. Announces Qualifying Transaction

TORONTO, ON, Canada | Posted on June 21st, 2008

Under the letter of intent it is proposed that Nanotech, a capital pool company listed on the Exchange, will acquire all of the issued and outstanding securities of Natcore or complete some other form of transaction that has the same effect. Shares of Natcore will be exchanged on a one-for-one basis for shares of Nanotech, such that following the exchange, current holders of Nanotech shares will hold approximately 24.3% (4,577,500 shares) of the Nanotech shares and current holders of Natcore shares will hold approximately 75.7% (14,231,619 shares) of the Nanotech shares on a fully diluted basis before giving effect to the private placement described below.

Concurrently with the closing of the qualifying transaction the resulting issuer intends to complete an equity private placement financing raising gross proceeds to Nanotech of a minimum of $2,000,000.

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

About Natcore Technology, Inc.

Natcore was incorporated in Delaware in 2003, specifically to exploit the patent pending technology over which it owns the exclusive license from Rice University. The licensed intellectual property (IP) controls the growth of thin and thick films of silicon dioxide and mixed silicon oxides on silicon and other substrates from an aqueous bath at room temperature and pressure.

Natcore seeks to become a global leader in the growth of thin and thick films of dielectric and semiconductor materials using non-vacuum, room temperature processes. Currently, Natcore's primary focus is to enter and lead the AR coating market for solar cells by selling a paradigm-shifting, low-cost technology to solar cell manufacturers that will enable those companies to realize significantly lower capital costs and higher profit margins from their own sales.

Charles Provini, President and Chief Executive Officer

Mr. Provini holds an Engineering degree from The U.S. Naval Academy in Annapolis, Maryland and a Masters degree from the University of Oklahoma. Previously, he was the President of Ladenburg Thalmann Asset Management and a Director of Ladenburg Thalmann, Inc., one of the oldest members of the New York Stock Exchange. He has served as President of Laidlaw Asset Management as well as Chairman and Chief Investment Officer of Howe & Rusling, Laidlaw's Portfolio Management Advisory Group. Prior to this, he served as President of Rodman & Renshaw's Advisory Services and President of LaSalle Street Corporation, a wholly-owned subsidiary of Donaldson, Lufkin & Jenrette.

Mr. Provini has been a leadership instructor at the U.S. Naval Academy, Chairman of the U.S. Naval Academy's Honor Board and is a former Marine Corp. officer. He is a frequent speaker at financial seminars and has appeared on "The Today Show" and "Good Morning America," discussing financial markets.

Brien F. Lundin, Chairman

The president/CEO of Jefferson Direct, Inc., Mr. Lundin is a businessman and investor with experience in financing and advising early-stage technology and natural resource enterprises.

Mr. Lundin is the nationally recognized publisher and editor of print and Internet-based publications specializing in these areas, including Gold Newsletter, now in its 37th year of publication. He is also the owner of the famed New Orleans Investment Conference, which has hosted thousands of elite private investors as attendees, and the world's most celebrated investment, economic and geopolitical figures as presenters.

A press release with further particulars relating to the proposed transaction will follow in accordance with the policies of the Exchange.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

This news release may contain forward-looking statements that are based on Nanotech's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and Nanotech undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

####

For more information, please click here

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

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

Iran to Hold 3rd Int'l Engineering Materials, Metallurgy Conference October 25th, 2014

Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014

QuantumWise guides the semiconductor industry towards the atomic scale October 24th, 2014

SUNY Polytechnic Institute Invites the Public to Attend its Popular Statewide 'NANOvember' Series of Outreach and Educational Events October 23rd, 2014

Investments/IPO's/Splits

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

Arrowhead Issues Open Letter to Shareholders October 9th, 2014

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Announcements

Iran to Hold 3rd Int'l Engineering Materials, Metallurgy Conference October 25th, 2014

Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014

QuantumWise guides the semiconductor industry towards the atomic scale October 24th, 2014

Strengthening thin-film bonds with ultrafast data collection October 23rd, 2014

Patents/IP/Tech Transfer/Licensing

Researchers patent a nanofluid that improves heat conductivity October 22nd, 2014

Nanodevices for clinical diagnostic with potential for the international market: The development is based on optical principles and provides precision and allows saving vital time for the patient October 15th, 2014

Aculon Receives Patent for Application of Enhanced Bonding Layers on Titanium October 9th, 2014

harmaEngine will join Nanobiotix’ pivotal trial for NBTXR3 in Soft Tissue Sarcoma to accelerate its development in Asia-Pacific: PharmaEngine to make milestone payment to Nanobiotix in October 2014 to recognize the value created October 8th, 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