California Nanotechnologies Announces Non-Brokered Private Placement

Executive Summary

• California Nanotechnologies Corp. announced a non‑brokered private placement of up to 2,500,000 units at CA$0.30 per unit, targeting gross proceeds of up to CA$750,000, with an over‑allotment option for an additional 1,000,000 units (up to CA$300,000).
• Each unit consists of one common share and one warrant exercisable at US$0.30 for 18 months after closing; net proceeds will be used for general working capital and corporate purposes.
• Up to 20% of the offering may be purchased by insiders, treated as a related‑party transaction under TSXV rules, with reliance on exemptions from minority shareholder approval.

Key Details

• Units Offered: Up to 2,500,000 (plus optional 1,000,000 over‑allotment).
• Price per Unit: CA$0.30.
• Total Gross Proceeds Target: CA$750,000 (potentially CA$1,050,000 if over‑allotment exercised).
• Unit Composition: 1 common share + 1 Common Share purchase warrant.
• Warrant Terms: Exercise price US$0.30; exercisable for 18 months from closing.
• Use of Proceeds: General working capital and corporate purposes.
• Regulatory Conditions: Subject to TSXV approval and other required regulatory approvals.
• Insider Participation: Expected up to 20% of the offering; considered a related‑party transaction under MI 61‑101.
• Exemptions Relied Upon: Exempt from minority shareholder approval and formal valuation requirements because neither fair market value nor consideration exceeds 25% of market cap.
• Finder’s Fees: May be payable in connection with the offering.

Notable Quotes

(No direct quotes were provided in the release.)