Nano One® Materials Corp. (“Nano One” or “the Company”) (TSX-V:NNO) (OTC-Nasdaq Intl Designation: NNOMF) (Frankfurt:LBMB), a technology company with a patented and scalable industrial process for the production of low cost, high performance cathode materials used in lithium-ion batteries, today is pleased to announce that it has entered into an agreement with a syndicate of underwriters (collectively, the "Underwriters") led by TD Securities Inc. and Roth Canada, ULC (the "Joint Bookrunners") pursuant to which the Underwriters have agreed to purchase on a bought deal basis an aggregate of 4,700,000 common shares (the “Shares”), at a price of $5.35 per Share (the "Issue Price") for gross proceeds of $25,145,000 (the “Offering”).
The Company has agreed to grant the Underwriters an over-allotment option (the "Over-Allotment Option") to purchase up to an additional 15% of the Shares at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, the Company will receive an additional $3,771,750.
The Company intends to use the net proceeds of the Offering for ongoing research and development, pilot plant expansion, business development and strategic initiatives with partners and collaborators and for general corporate purposes.
On or before March 22, 2021, the Company will file with the securities commissions or similar regulatory authorities in each province of Canada other than Quebec, a preliminary short form prospectus relating to the issuance of the Shares. The Offering is anticipated to close on or about April 1, 2021 and is subject to certain customary conditions and regulatory approval, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
About Nano One
Nano One Materials Corp (“Nano One”) is developing patented technology for the low-cost production of high performance battery materials used in electric vehicles, energy storage, consumer electronics and next generation batteries. The processing technology addresses fundamental supply chain constraints by enabling wider raw materials specifications for use in lithium-ion batteries. The process can be configured for a range of different nanostructured materials and has the flexibility to shift with emerging and future battery market trends and a diverse range of other growth opportunities. The novel three-stage process uses equipment common to industry and Nano One has built a pilot plant to demonstrate high volume production and to optimize its technology across a range of materials. This pilot plant program is 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 nanostructured composite materials. For more information, please visit www.nanoone.ca
Antenna Group for Nano One
Cautionary Note about Forward-looking Statements and Information
Certain of the statements made and information provided in this news release are forward-looking statements or forward-looking information (“forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements and information other than statements of or information regarding historical fact contained in this news release are forward-looking statements. Often, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “continue”, “projected”, “potential”, “proposed”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “likely” or “will” be taken, occur or be achieved.
Forward-looking statements herein include, but are not limited to, statements or information with respect to timing and terms of the Offering and the use of proceeds therefrom.
Forward-looking statements are based on a number of assumptions that management considers reasonable, however, if such assumptions prove to be inaccurate, then actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements. These assumptions include those set out below and, except where otherwise stated, Nano One has assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. With respect to the forward-looking statements contained in this news release, Nano One has made assumptions regarding, among other things: timely receipt of the necessary regulatory (including stock exchange) approvals and other required approvals; use of proceeds; stability of general economic and financial market conditions; and the impact of the COVID-19 pandemic.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results, activities, performance or achievements to be materially different from those described in the forward-looking statements. Nano One is subject to material and other risks that could cause actual results to differ significantly from Nano One’s current expectations, including the factors disclosed under “Risk Factors” in the Company’s annual information form for the fiscal year ended December 31, 2020.
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