ROCHESTER, N.Y., March 18, 2016 /CNW/ -- Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its non-brokered private placement, as announced on March 4, 2016. Gross proceeds of $808,018.92 were raised through the sale of 2,244,497 units at a price of $0.36 per unit. Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to purchase of a further common share at $0.55 until March 17, 2019. Aggregate finder's fees of $8,442 was paid in cash and 23,450 warrants, bearing the same terms as the unit warrants, were issued
The securities issued in the final tranche are subject to a hold period in Canada expiring on July 18, 2016. Proceeds of the placement will be applied to further development of Natcore's technologies and general working capital.
This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. Neither the United States Securities and Exchange Commission ("SEC"), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release.
Contact: Chuck Provini
SOURCE Natcore Technology Inc.