Vancouver, British Columbia – September 1, 2009, Natcore Technology Inc. (TSX-V: NXT) reports that, further to its news release dated June 29, 2009 it has completed a non-brokered private placement of up to 2,912,500 Units at a price of $0.40 per Unit for aggregate gross proceeds of $1,165,000. Each Unit comprised of one common share and one warrant for the purchase of a further common share at $0.75 until August 31, 2011. The Warrants will be subject to forcible conversion within 30 days of delivery of notice from Natcore, in the event the shares of Natcore close at over $1.50 for 20 consecutive trading days.Finder’s fees of $115,700 representing 10% of the proceeds placed and 289,250 Warrants representing 10% of the Units placed were paid to a finder on the majority of the placement.
Proceeds of the placement will be applied to Natcore’s forthcoming research and development activities concerning quantum dot tandem solar cells.
All of the securities issued in the placement are subject to a four-month hold period expiring on January 1, 2010.