Letter from the President Charles R. Provini
Dear Don,
Below is a press release that we issued this morning announcing Natcore’s intention to do a small capital raise through a private placement. As you know, I have always been concerned with the issue of dilution and committed to increasing shareholder value. Because of current market conditions and the level of our stock price I have decided to only do a small raise of between $1 million and $2 million. Obviously, I cannot predict what the stock price will be next year. We are awaiting an effective date from the SEC regarding our F1 filing and that will have some impact on the stock. But, if market conditions are favorable, we can always return to the market if necessary. This small raise will last us through next summer just in case.
I believe this is a very opportune time to take a look at investing in Natcore or adding to any existing position you may have. We are very close to the commercialization of two of our technologies and our first revenue. As you know, this first revenue will change the complexion of the company and have a serious impact on the stock price. We have not yet received the private placement memorandum and subscription agreement from our attorney nor have we set the terms but we expect each unit to include a share of Natcore stock at a discount to the market price on the day that we price it and a three year warrant priced at a premium to the market. The minimum investment for qualified investors will be $25,000.
If this is of interest to you please let me know and I will be happy to answer any of your questions and provide you with the appropriate documentation when it is available.
Regards,
Charles R. Provini
President & CEO
Natcore Technology, Inc.
87 Maple Avenue, Red Bank, NJ 07701
732-576-8800, fax 732-576-8809
Email: provini@natcoresolar.com
www.natcoresolar.com
NATCORE ANNOUNCES INTENT TO FINANCE
Red Bank, NJ — (November 10, 2014) — Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) announces that it intends to arrange a non-brokered financing to raise between $1-2 million. The proposed terms of the financing will be announced shortly once Natcore has had opportunity to test market conditions. Funds generated from the financing will be used for the continued optimization of products close to commercialization such as Natcore’s development of black silicon solar cells and backside laser contact solar cell products.
