Home / Knowledge / News / Textiles / Funds to develop CRAILAR technology for hemp textile
Funds to develop CRAILAR technology for hemp textile
10
Jul '08
Naturally Advanced Technologies Inc a developer of proprietary technologies for the processing and production of environmentally sustainable natural fibers and materials, is pleased to announce it has received final approval to list its common shares on the TSX Venture Exchange.

The Company's common shares will trade under the symbol "NAT" and will begin trading on the TSX-V at the opening of business on Tuesday, July 8, 2008.

$2 Million Private Placement:
In connection with the TSX-V listing, the Company closed a brokered and non brokered private placement on July 3, 2008 for gross proceeds of just under $1.98 million.

Pursuant to the private placements, the Company issued a total of 1,472,426 units at $1.35 per unit, representing just over 5% of the Company's common shares outstanding.

Each unit ("Unit") is comprised of one common share (a "Share") and one half of one Share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one Share at a price of $1.95 until July 3, 2010.

1,117,426 Units were placed through Canaccord Capital Corporation ("Canaccord") under the brokered portion of the deal, while 355,000 Units were placed under the non-brokered portion. Net proceeds to the Company from this private placement amount to $1,834,656.

In connection with the brokered private placement, the Company paid Canaccord a cash commission, as well as granted 109,942 agent's options to Canaccord, and 1,800 agent's options to Bolder Investment Partners Ltd.

Each agent's option is exercisable for a Unit at a price of $1.35, consisting of one Share and one half of one Warrant. Each full Warrant entitles the agent Warrant holder to purchase an additional Share at $1.35 until July 3, 2010.

All securities issued in connection with the private placements are subject to a four month hold period in Canada. The funds from the private placements will be used to fund CRAILAR development, repay debt, and general and administrative expenses.

"The TSX-V listing will provide NAT with access to additional Capital markets that are receptive to high growth companies with unique technologies," said Ken Barker, CEO of Naturally Advanced Technologies Inc.

"This significant milestone will allow the Company to target its communications to a broader investor audience, while creating greater liquidity levels for the Company's shareholders.

With the closing of the private placement, the Company continues to be in an excellent position to commercialize our CRAILAR technology."

Neither the TSX-V nor any regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Naturally Advanced Technologies Inc


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search