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NTCFX-Natcore Technology (Absolute Black) Solar Coating.

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StockScout1 Member Level  Saturday, 07/28/12 08:27:00 AM
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NTCFX-Natcore Technology (Absolute Black) Solar Coating.
Interesting Chart:
http://stockcharts.com/h-sc/ui?s=NTCXF&p=D&yr=0&mn=1&dy=0&id=p93455789994
Sorry, haven't learned how to bring pic over yet.

Natcore Technology Closes $2.5 MM Non-Brokered Private Placement
Natcore Tech (GM) (USOTC:NTCXF)

1 Month : From Jun 2012 to Jul 2012
Natcore Technology Closes $2.5 MM Non-Brokered Private Placement

PR Newswire
RED BANK, N.J., July 20, 2012 /PRNewswire/ -- Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) has today completed a C$2.5 million private placement. The funds will be used to complete optimization of the company's promising black silicon technology and to build a production version of Natcore's AR-Box™ processing station. This version would be capable of etching and coating cells with black silicon at a rate of 1,500 to 2,000 cells per hour.

The financing was announced on July 3. Natcore received gross proceeds of C$2,500,000, pursuant to the issuance of 4,166,167 units at a price of C$0.60 per unit. The overallotment has received regulatory approval, including the sanction of the TSX Venture Exchange.

Each unit comprised one common share and one warrant, with each warrant enabling purchase of a further common share at C$0.90 for a period of two years from closing. In the event that Natcore shares close at over C$1.60 for 20 consecutive trading days, the warrants will be subject to accelerated conversion within 30 days' notice of the company disseminating a press release providing notice of that circumstance. All securities issued pursuant to the placement are subject to a hold period expiring on November 21, 2012.

Finder's fees were paid on a portion of the financing, such that an aggregate of $104,710 was paid in cash and 22,516 finder's warrants were issued, having the same terms as the warrants forming part of the units and 152,000 finder's unit warrants were issued exercisable to acquire units on the same terms as the units issued in the financing at an exercise price of $0.60 per unit for a period of two years.

"Although this placement had been planned for several months, the $2.5 million came in very quickly," says Natcore President and CEO Chuck Provini. "We easily could have raised twice as much, but we raised only what we needed for the tasks at hand. We wanted to avoid dilution."

Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or Natcore's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore's business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact: Chuck Provini732-576-8800
SOURCE Natcore Technology Inc.
http://investorshub.advfn.com/boards/post_new.aspx?board_id=21304


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