California Nanotechnologies Announces Closing of Non-Brokered Private Placement

Core Viewpoint - California Nanotechnologies Corp. has successfully closed a non-brokered private placement, raising approximately $935,900 through the issuance of 3,119,666 units at CA$0.30 per unit, which includes common shares and warrants [1][2]. Group 1: Offering Details - The Offering consists of 3,119,666 units priced at CA$0.30 each, resulting in gross proceeds of about $935,900 [1]. - Each unit includes one common share and one warrant, with the warrant exercisable at US$0.30 for eighteen months [1]. - The net proceeds will be used for general working capital and corporate purposes, pending necessary regulatory approvals [2]. Group 2: Compensation and Related Transactions - The Company will pay a cash commission of $825 and issue 154,179 common shares to eligible finders at the same price as the Offering [3]. - A director of the Company subscribed for 500,000 units, qualifying as a related party transaction, which is exempt from minority shareholder approval due to the transaction's size relative to the Company's market capitalization [4]. Group 3: Company Overview - California Nanotechnologies Corp. specializes in advanced technologies for processing metallurgic powders, serving a diverse clientele from Fortune 500 companies to startups across various sectors including aerospace and renewable energy [6].