Jun '11
Each unit will consist of one common share and one half of one common share purchase warrant (each, a "Warrant"). Each whole Warrant will entitle the holder thereof to acquire one common share of the Company at the exercise price of C$4.50 per common share for a period of 24 months following the date of closing of the offering. The Underwriters will also have the option (the "Over-Allotment Option"), exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 15% of the offering solely to cover over-allotments, if any, and for market stabilization purposes.
The Underwriters can elect to exercise the Over-Allotment Option for Units only or Warrants only or any combination thereof up to a maximum of 570,000 common shares and 285,000 Warrants. In the event that the option is exercised in its entirety for Units, the aggregate gross proceeds of the offering will be C$15,076,500.
The Company plans to use the net proceeds for capacity expansion, working capital and other general corporate purposes.
The Units will be offered by way of a short-form prospectus to be filed in all provinces of Canada pursuant to National Instrument 44-101 - Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.
The offering is scheduled to close on or about July 7, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.
Naturally Advanced Technologies Inc
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