The Canon agreement does not appear to be finalized to me
"Altair Nanotechnologies Inc. (NASDAQ: ALTI) today announced it has agreed to a fourth amendment to the Share Subscription Agreement (the "SSA") initially entered into with Canon Investment Holdings Limited ("Canon") on September 20, 2010 and subsequently amended on February 16, May 17 and June 3, 2011. This Fourth Amendment to the SSA extends the End Date to, and sets the Closing Date as, July 8, 2011 but keeps in place the ability of Altairnano to pursue other alternatives and to terminate the SSA at any time with no penalty. The SSA calls for Canon to acquire newly issued shares of the Company's common stock valued at $57.6 million resulting in a 51% ownership on a fully diluted basis immediately upon closing.
The company stated in both its May 17 and June 3, 2011 press releases on this transaction that it would continue working toward closing with Canon, but also thoroughly examine alternatives to the Canon deal.
"We will continue to remain open to completing the transaction with Canon," stated Terry Copeland, Altairnano's president and Chief Executive Officer. "At the same time, we are continuing discussions with other major energy providers and industrial companies and will thoroughly pursue these alternatives."
All Statements are just opinions and should not be viewed as advice
