Nanotech Security Corp. Upsizes Financing; Clarifies Related Acquisition
16 Agosto 2013 - 11:28AM
Access Wire
Vancouver, British Columbia, - August 16th, 2013 -
(Accesswire) Nanotech Security Corp. (the "Company") (TSX-V:
NTS), developer of next-generation security and authentication
features using patented nano-optics announces that further to its
news release of August 1, 2013, the Company will be seeking
regulatory approval to upsize the Subscription Receipts financing
from $3 million to a maximum of $4 million. The Subscription
Receipts are convertible into equity units comprised of one common
share and one-half common share purchase warrant which
automatically convert into units upon completion of the acquisition
of two patent holding corporations as described in the August 1st
release. The terms of that acquisition are clarified in two
respects, firstly that the deemed value of the escrowed shares to
be issued is $0.72 and secondly that the escrow will allow for 25%
semi-annual releases over the two years from closing starting six
months from closing. Both the financing and acquisition
transactions remain subject to execution of definitive agreements
and TSX Venture Exchange acceptance, although the financing
transaction has received conditional approval at this time.
There is one insider who participated in this financing and four
members of a "Pro Group" as defined in the Rules of the
Exchange.
For additional information about Nanotech Security's
KolourOptiks® nano-technology, visit
http://vimeo.com/nanotechsecurity. More information about the
Company can be found at the Company's website
http://www.nanosecurity.ca/ or http://www.sedar.com/
On Behalf of the Board of Directors of
Nanotech Security Corp.
"Doug H. Blakeway"
President and CEO
Media Contact: Jackie Henry
jp@nanosecurity.ca +1.778.384.3384
Investor Relations: Sean Peasgood
sean@spectrumcapitalinc.com +1.416.565.2805
The TSX Venture Exchange does not accept Responsibility for the
adequacy or accuracy of this release.
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