Naturally Advanced Technologies Closes $13.1 Million Offering

08/07/2011 at 6:02 am Leave a comment

We are pleased to announce the closing of our previously announced bought deal public offering of 3,800,000 units of the Company at a price of C$3.45 per Unit for aggregate gross proceeds of C$13,110,000 .  Each Unit is comprised of one common share and one half of one common share purchase warrant of the Company. Each Warrant entitles the holder to acquire one common share of the Company at an exercise price of C$4.50 per common share at any time before 5:00 p.m. PST on July 8, 2013.

We plan to use the net proceeds from the Offering for capacity expansion, debt repayment, working capital and other general corporate purposes.

Our CEO,Ken Barker, commented: “The support received for this Offering shows that the market, like Company management, believes that there is significant value in our “green tech” focus on providing environmentally-friendly textile, composite, biomass and pulping solutions through the cost effective process of converting industrial flax, hemp and other bast fibre crops through its patented CRAiLAR® and CRAiLEXTM technologies.  NAT brings sustainable bast fibre-based products to market, providing environmentally-friendly natural fibre alternatives for a broad range of existing and emerging product applications, with equivalent or superior performance characteristics to cotton, wood or fossil-fuel based competitors.”

Advertisements

Entry filed under: Business, Cleantech, Economy, Environment, Farming, Flax, Investing, Social Responsibility, Sustainability, Venture Capital.

The Flax Man The ‘Snicker Factor’ Aside, Hemp is Serious Business

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 113 other followers

Flickr Photos

Categories


%d bloggers like this: