Natcore Technology Plans $2 Million Non-Brokered Private Placement

Red Bank, NJ – (December 14, 2010) –Natcore Technology Inc. (TSX-V: NXT; NTCXF.PK) has arranged a C$2 million private placement in order to accelerate the company’s research and development activities.The non-brokered deal involves up the sale of up to 2,666,667 units at a price of C$0.75 per unit for aggregate gross proceeds of C$2,000,000. Each unit comprises one common share and one-half warrant, with each full warrant enabling purchase of a further common share at C$1.00 for a period of three years from closing. In the event that Natcore shares close at over C$1.75 for 20 consecutive trading days, the warrants will be subject to accelerated conversion within 30 days’ notice of the company disseminating a press release providing notice of same.

“We’ve been conducting R&D work at Rice University and the Ohio State University,” says Natcore President and CEO Chuck Provini. “This capital infusion will allow us to build our own lab and to move much more quickly toward building a super-efficient tandem solar cell using our liquid phase deposition process.” A location for the new facility has not yet been finalized, although suitable facilities have been identified.

Finder’s fees may be payable on all or 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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