VANCOUVER, BC--(Marketwired - May 18, 2017) - Nanotech Security Corp. (TSX VENTURE: NTS) (OTCQX: NTSFF) is pleased to announce the closing of its previously announced bought deal private placement with a syndicate of Canadian underwriters (the \"Underwriters\"), pursuant to which the Company issued 11,586,870 common shares (the \"Shares\") of the Company at a price of $1.15 per Share for gross proceeds of $13,324,900.50 (the \"Offering\"). The Offering included the Underwriters exercising their over-allotment option for an additional 1,152,087 common shares. <\/p>\n
The Company intends to use the net proceeds of the Offering to simplify and improve Nanotech's capital structure by immediately redeeming the $4.2 million of convertible debentures that bear an interest rate of 12% per annum and are convertible at $1.25, to increase production capacity, strengthen the balance sheet and general corporate initiatives. <\/p>\n
FORWARD-LOOKING STATEMENTS <\/p>\n
This news release contains forward-looking statements about the proposed financing. Forward-looking statements are frequently, but not always, identified by words such as \"expects\", \"anticipates\", \"believes\", \"intends\", \"estimates\", \"predicts\", \"potential\", \"targeted\" \"plans\", \"possible\" and similar expressions, or statements that events, conditions or results \"will\", \"may\", \"could\" or \"should\" occur or be achieved. All statements, other than statements of historical fact, included herein including, without limitation; statements about opportunities that could accelerate the growth of the Company and use of proceeds are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements made in this news release are qualified by risk factors contained in our public filings at http:\/\/www.sedar.com<\/a> and there can be no assurance that actual results or developments that we currently anticipate, including completion of the financing, will be realized. Nanotech disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. <\/p>\n This news release is not an offer to sell or the solicitation of an offer to buy any securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such laws. <\/p>\n About Nanotech Security <\/p>\n Nanotech Security Corp. has been a leading innovator in the design and production of advanced banknote and commercial branding authentication products. Nanotech's KolourOptikand Plasmogram products are nanotechnology based optical imaging product platforms originally inspired by the unique optical properties of the iridescent wings of the Blue Morpho butterfly. Our nano-optical products produce intense, high definition optically-variable images and colour-shift optical thin films. Activated by a simple tilt or rotation, with higher resolutions than the best LED-displays, they are ideal for authentication of currency, passports, and identification cards in addition to distinguishing branded goods from counterfeits. <\/p>\n Additional information about Nanotech can be found at the Company's website http:\/\/www.nanosecurity.ca<\/a>, the Canadian disclosure filings website http:\/\/www.sedar.com<\/a> or the OTCMarkets disclosure filings website http:\/\/www.otcmarkets.com<\/a>. <\/p>\n Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. <\/p>\n <\/p>\n See the original post here: <\/p>\n Nanotech Security Corp. Announces Closing of $13.3 Million Bought ... - Marketwired (press release)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" VANCOUVER, BC--(Marketwired - May 18, 2017) - Nanotech Security Corp. (TSX VENTURE: NTS) (OTCQX: NTSFF) is pleased to announce the closing of its previously announced bought deal private placement with a syndicate of Canadian underwriters (the \"Underwriters\"), pursuant to which the Company issued 11,586,870 common shares (the \"Shares\") of the Company at a price of $1.15 per Share for gross proceeds of $13,324,900.50 (the \"Offering\"). The Offering included the Underwriters exercising their over-allotment option for an additional 1,152,087 common shares. Continue reading