Rochester, NY -- Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its private placement, as announced on June 22, 2016. Gross proceeds of $400,000 were raised through the sale of 1,000,000 units at a price of $0.40 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 June 27, 2016. Aggregate finder’s fees of $28,000 were paid in cash and 70,000 warrants, bearing the same terms as the unit warrants, were issued.
The securities issued are subject to a hold period in Canada expiring on October 28, 2016, while the common shares forming part of the units have been registered in the United States pursuant to a Registration Statement on Form F-1 filed with the U.S. Securities and Exchange Commission and granted effective on June 22, 2016. Proceeds of the placement will be applied to further development of the company’s technologies and general working capital.