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Natcore Technology Signs MOU to Merge With Innovative Medical Technology Company

Merger Will Add Medtech and

Operating Service Providers to the Natcore Portfolio

 Delray Beach, FL — (November 5, 2018) —Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF), a technology research company, has advanced an MOU that would result in a merger with a privately held firm and its subsidiaries that would become wholly owned subsidiaries of Natcore.

The move would give Natcore the resources to further develop and leverage its innovative technologies R&D across the energy, medical and defense sectors and allow the company to once again attend to its patents that have applications in the medical field.

This week as Americans go to the midterm polling stations to cast their vote, the number one topic on their minds is how the political landscape will impact their healthcare options and quality of care outcomes. Affordability and access to care are main concerns for most Americans. Natcore would be introducing a national healthcare model through this merger. The model is a consolidated health services organization with specific focus on cost reduction and optimization of patient engagement, risk assessment, risk management and pharmaceutical adherence for patients in all markets. Initial estimates are that it will save health systems, payers and the Federal government tens of billions of dollars from its high-tech, high-touch innovative technology and service mix. The model is a non-partisan solution serving the needs of the American people that upon widespread adoption, hundreds of billions of dollars in cost savings could be realized.

The merger evolved over 2018 through conversations between Chuck Provini, Natcore’s CEO and President, and Owen Shuler, CEO of Shuler Capital Corp, who have known each other from previous Wall Street relationships.

Provini says “This merger would offer several obvious advantages for Natcore. First, by having other businesses in our portfolio, we would be able to smooth out the impact of the volatility inherent in the energy industry, as Natcore has invested significant resources to developing its solar tech patents portfolio while weathering the sector’s natural anomalies, unforeseen tariffs, political pressures and international competitive issues.

“Second, we would have the organizational and financial resources to exploit our existing patents in the solar and medical fields and to expand our product offerings through vertical businesses in both sectors.

“Third, as a much bigger company, we would be better able to command the attention of analysts and would have expanded bandwidth to serve existing and new customers.”

“And fourth, as an American company trying to keep control of our intellectual property here in the States and across the globe, this merger would allow us to continue that fight with breathing room to further improve our technologies as we prepare to export products and services worldwide.”

Although Natcore has focused on its solar technologies, its work with carbon nanostructures has led to patents with important applications in the medical field. Most prominent of these is a patent for an artificial self-powered retina insert using an array of semiconductor coated multiwall carbon nanotubes, controlled by micron scale integrated circuit embedded in the device. Advancing core research to commercially viable products becomes more readily achievable.

Other applications could include a medical laser power meter with a black silicon absorber to prevent unwanted back reflection; x-ray absorbing material made with coated multiwall carbon nanotube (MWNT) yarns; a DNA sequencing method using semiconductor coated carbon nanotubes; and a lab-on-a-chip medical diagnostic system using semiconductor coated MWNTs.

Natcore’s objective to advance its solar and medical patents suite towards commercialization for revenue generation would be advanced through the merger.

Provini would continue as CEO and President of the reconfigured Natcore. Shuler would become its Chairman, replacing Brien Lundin, who will remain on the Board of Directors. The Board would be expanded with additional directors possessing specific industry experience who are well known corporate and institutional capital markets executives.

Natcore will be relocating its headquarters from Rochester, NY, to Delray Beach, FL., with regional offices serving its customers from Washington, Dallas, Nashville and New York City.

The relative valuations of the merger will be made public over the next 30 days. However it will include a 1:10 reverse split of the existing Natcore shares followed by an issuance of shares to Shuler that will create a supermajority equity interest with operating and management control of the company. Natcore has requested a trading halt during the finalization of the transaction to allow all relevant information regarding the specific assets and companies as part of the merger to be made public leading up to the company’s annual shareholders meeting by the end of January.

Actions contemplated by the MOU are subject to all necessary regulatory approvals, including acceptance and approval by the TSX Venture Exchange.

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Statements herein other than purely historical factual information, including statements relating to revenues or profits, or Natcore’s future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore’s business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Natcore Technology closes private placement

Rochester, NY — (July 21, 2018) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its non-brokered private placement as announced on July 18, 2018. Gross proceeds of CDN$195,000 were raised through the sale of 1,500,000 units at a subscription price of $0.13 per unit.

Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to purchase one further common share at a price of $0.16 for a period of three years from the closing of the private placement.

Finder’s fees of $13,650 were paid in cash in association with the placement, and 105,000 finder’s warrants, bearing the same terms as the placement warrants, were issued.

Proceeds of the placement will be used for Natcore’s general corporate and working capital purposes.

All of the shares and warrants issued in the private placement are subject to a hold period in Canada of four months and a day from the date of closing in each instance.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release.

Natcore Technology announces private placement

Rochester, NY — (July 18, 2018) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has announced its intent to raise CDN$195,000 via a non-brokered private placement.

The placement involves the sale of up to 1,500,000 units at a price of CDN$0.13 per unit. Each unit comprises one common share and one share purchase warrant. Each warrant will entitle the holder to purchase a further common share at $0.16 for a period of 36 months from closing.

Finder’s fees of 7% cash and 7% warrants (on the same terms as the warrants forming part of the units) may be payable on all or a portion of the financing. Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital. The completion of the placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release. 

Natcore Technology closes $980,000 private placement

Rochester, NY — (April 27, 2018) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its non-brokered private placement as announced on March 20, 2018. Gross proceeds of CDN$980,000 were raised through the sale of 7,000,000 units at a subscription price of $0.14 per unit.

Each unit comprised one common share and one share purchase warrant. Each warrant entitles the holder to purchase one further common share at a price of $0.21 for a period of three years from the closing of the private placement.

Finder’s fees of $31,649.11 were paid in cash in association with the placement, and 226,065 finder’s warrants, bearing the same terms as the placement warrants, were issued.

Proceeds of the placement will be used for Natcore’s general corporate and working capital purposes.

All of the shares and warrants issued in the private placement are subject to a hold period in Canada of four months and a day from the date of closing in each instance.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release. 

Natcore Develops Streamlined Process For Ultra-High-Efficiency, Silverless Solar Cell

Prototype To Demonstrate Key Advantages

Rochester, NY — (March 15, 2018) —Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has dramatically streamlined the fabrication method for its revolutionary Natcore Foil Cell™, allowing for even lower-cost production methods.

The use of laser processing to create Natcore’s innovative, all-back-contact cell structure has been eliminated and replaced by a carrier selective contact process. This is combined with a foil metallization that can be cheaply made with high-speed roll-processing methods.

These advances have maintained, and in fact enhance, the two key advantages of Natcore’s Foil Cell:

1) The elimination of high-cost silver. Natcore’s Foil Cell replaces silver, and its high material costs and complicated production processes, with aluminum foils.

At approximately 1/300th the cost of silver, aluminum allows for more metal to be used to maintain conductivity, while also enabling high-speed, high-volume materials handling and processing.

2) The potential for ultra-high efficiencies in an affordable production cell. The silicon heterojunction (SHJ) structure of Natcore’s Foil Cell is the same basic structure used to achieve world-record silicon cell efficiencies of over 26% by major manufacturers in experimental solar cells.

But Natcore’s innovative use of pre-fabricated foils to produce this structure will allow, for the first time, the low-cost mass manufacturing of these ultra-high efficiency, all-back-contact solar cells.

Natcore is targeting over 25% real-world efficiency for its eventual production solar cells, roughly a 25% performance improvement over many high-end commercial cells being installed today.

“The solar industry is exceedingly competitive,” notes Brien Lundin, Natcore’s Chairman. “Studies show that they have to achieve at least a 0.6% performance improvement every year to survive, yet they struggle to clear even this low bar.

“Because Natcore’s Foil Cell will represent a generational leap in performance, we are confident that major industry players will join us in advancing our technology to market.”

Accelerated Prototypge Production And Financing

Natcore has begun an accelerated development program to produce a prototype with the new process, as well as include production cost and efficiency modeling by independent authorities.

The result will be a functioning prototype proving the essential production process, as well as studies establishing the ultimate affordability and ultra-high-efficiency potential of the Foil Cell. Natcore plans to pursue partnerships with leaders in the industry to commercialize its technology. The production of this prototype will be a key part of this process.

To fund the accelerated prototype program, as well as general corporate expenses, Natcore will conduct a financing, the terms of which have yet to be determined.

About Natcore Technology

Natcore Technology is focused on using its proprietary Foil Cell technology to significantly lower the costs and improve the power output of solar cells. www.NatcoreSolar.com

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Statements herein other than purely historical factual information, including statements relating to revenues or profits, or Natcore’s future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore’s business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Natcore Technology closes private placement

Rochester, NY — (February 27, 2018) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its proposed non-brokered private placement, as announced on February 23, 2018. Gross proceeds of CDN$87,500 were raised through the sale of 1,250,000 units at a price of $0.07 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 $0.09 for a period of three years.

Finder’s fees of $6,125 were paid in cash in association with the placement, and 87,500 finder’s warrants, bearing the same terms as the placement warrants, were issued.

All securities issued in the private placement are subject to a hold period in Canada expiring on June 27, 2018.  Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release. 

Natcore Negotiating Technology License For Ghana Solar Farm

License Fee Expected to be $2.5 Million

Rochester, NY — (August 15, 2017) — PSECC Solar Farms Ltd, a climate change mitigation company and developer of solar farms, has turned to Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) to help restore financial viability to a 20 MW Ghanaian project that was threatened by a 29% reduction in feed-in tariffs.

A feed-in tariff (FIT) is an economic policy created to promote active investment in and production of renewable energy sources. Feed-in tariffs typically make use of long-term agreements and pricing tied to costs of production for renewable energy producers. In practice, feed-in tariffs may be payments to ordinary energy users for the renewable electricity they generate.

The previous Ghanaian government had set the feed-in-tariff at about $0.137 per KWh, but the government appointed late in December 2016 has recently said that the signing of new Power Purchase Agreements (PPA) can have a maximum FIT payment no greater than $0.10 per KWh.

“The lower FIT payment meant I had to look for the best possible technology choice for solar panels,” says Alan Brewer, CEO and Director of PSECC (www.pseccsolarfarms.com). “That’s when I contacted Natcore, because the increase in power using their technology meant that the revenues could be increased by 10% or more and the project could once again be financially viable.”

PSECC had gained a Provisional License in December 2016 for the 20 MW solar farm at Simbrofo in Ghana. Two additional 20 MW farms are planned for that venue. A commitment for financing the projects has been obtained from a Polish bank via the European Central Bank. The estimated build cost of the first 20MW solar farm at Simbrofo will be $28.776 million.

By licensing Natcore’s technology in Ghana, PSECC would also gain exclusive access, on a regional basis, to Natcore’s newest advances, including laser-processed, back-contact foil cell technology, black silicon and others as they come on line.

Last month, Natcore and PSECC signed a Memorandum of Understanding under which PSECC would engage Natcore to develop solar projects within the United States.

“We estimate that the fee for a license agreement of this size will be about $2.5 million,” says Chuck Provini, Natcore President and CEO. Although we haven’t finalized negotiations, we’re able to make a projection based on the savings anticipated by using our technology.”

“From the beginning, our mantra has been ‘raise the efficiency, lower the cost,’” says Provini. “Our new Natcore Foil Cell™ will do both. It has achieved an efficiency of 20.7% so far, which is already a relative 20% higher than most commercially available solar cells, and it uses a revolutionary laser process with a novel metallization strategy, to create a high-efficiency all-back-contact cell architecture at low cost. Importantly, it also eliminates the need for silver, one of the highest-cost components of a conventional solar cell.”

PSECC has formed Simbrofo Light Ghana Ltd, a special purpose vehicle to take this project forward.

This is the fifth project to be assigned to Natcore as a result of its Best-of-Breed program. Under that program, Natcore functions as a consultant on the design and construction of solar cell/solar panel fabrication facilities and solar farms. Natcore also serves as a general contractor, hiring subcontractors and vetting every component of the project, taking advantage of their status and know-how to get the best available price, quality and efficiency. The company is in various stages of development on projects in Belize, Australia, Vietnam and the United States.

About Natcore Technology

Natcore Technology is focused on using its proprietary nanotechnology discoveries to enable a variety of compelling applications in the solar industry. Specifically, the company is advancing applications in laser processing and black silicon solar cells to significantly lower the costs and improve the power output of solar cells. With 65 patents (31 granted and 34 pending), Natcore is on the leading edge of solar research. www.NatcoreSolar.com

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Statements herein other than purely historical factual information, including statements relating to revenues or profits, or Natcore’s future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Natcore’s business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, Natcore expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Natcore Technology closes private placement

Rochester, NY — (August 8, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed its proposed non-brokered private placement, as announced on June 14, 2017. An aggregate of 2,800,000 units were issued over the three tranches of the private placement, generating aggregate gross proceeds of CDN$532,000. Each unit, sold at a price of $0.19, comprised one common share and one share purchase warrant, with each such warrant entitling the holder to purchase a further common share at $0.24 for a period of three years. Aggregate finder’s fees of $37,240 and 196,000 warrants (issued on the same terms as the units) were paid.

Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release.

Natcore Technology closes third tranche of private placement

Rochester, NY — (July 25, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) has completed the third tranche of its proposed non-brokered private placement, as announced on June 14, 2017. Gross proceeds of CDN$171,000.00 were raised through the sale of 900,000 units at a price of $0.19 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 $0.24 for a period of three years.

Finders’ fees were paid in connection with the third tranche, consisting of $11,970 payable in cash and 63,000 finders’ warrants having the same terms of the warrants issuable in the units. All securities issued in the third tranche are subject to a hold period in Canada expiring on November 25, 2017. Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release.

Natcore Technology extends private placement

Rochester, NY — (July 21, 2017) — Natcore Technology Inc. (TSX-V: NXT; OTCQB: NTCXF) is extending its previously announced non-brokered private placement, as announced June 14, 2017, for a period of 30 days. As previously announced, the company intends to raise up to CDN$665,000 through the sale of up to 3,500,000 units at a price of CDN$0.19 per unit. Each unit comprises one common share and one share purchase warrant. Each warrant entitles the holder to purchase of a further common share at $0.24 for a period of three years. Finder’s fees may be payable on portions of the placement.

Natcore has previously placed an aggregate of 1,900,000 units, generating gross proceeds of CDN$361,000, in prior tranches of the placement completed on June 16 and July 10, 2017.

Finder’s fees of 7% cash and 7% warrants (on the same terms as the warrants forming part of the units) may be payable on all or a portion of the financing.  Proceeds of the placement will be applied to further development of Natcore’s technologies and general working capital.  The completion of the placement is subject to regulatory approval, including the approval of the TSX Venture Exchange.

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This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.  Neither the United States Securities and Exchange Commission (“SEC”), the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) opines as to, nor accepts responsibility for, the adequacy or accuracy of this release.