Aurora Solar Technologies Announces Private Placement
By Marketwired News
By Marketwired News
NORTH VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 9, 2015) –
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
Aurora Solar Technologies Inc. (the “Company“) (TSX VENTURE:ACU) announces that it will undertake a brokered private placement of 5,000,000 units (“Units“) at a price of $0.30 per Unit for gross proceeds of up to $1,500,000. Each Unit will consist of one common share (a “Share“) and one half share purchase warrant (a “Warrant“), with each Warrant entitling the holder to purchase one additional Share (a “Warrant Share“) for a period of 36 months at a price of $0.45 per Warrant Share, subject to accelerated expiry in certain circumstances.
Euro Pacific Canada Inc. will act as the agent for the offering. The Company will be paying the agent a commission consisting of a cash fee of 6% of the gross proceeds from the sale of the Units and issuing to the agent broker’s warrants to purchase Shares equal to 6% of the Units placed at a price of $0.30 for 24 months from the date of issuance.
All securities will be subject to a 4-month hold period. All funds will be used for general corporate purposes.
Completion of the private placement is subject to the approval of the TSX Venture Exchange.
About the Company:
Aurora Solar Technologies Inc. produces measurement and control solutions which allow solar cell producers to improve manufacturing yield, lower costs, decrease waste and attain higher margins. Headquartered in North Vancouver, Canada, and founded by experienced leaders in process measurement, semiconductor manufacturing and industrial automation, the Company’s shares are listed on the TSX Venture Exchange and trade under the symbol “ACU”. The Company was formerly “ACT Aurora Control Technologies”. For more information, Aurora’s website is located at www.auroracontrol.com.
Neither the 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.
Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. The Company does not assume the obligation to update any forward-looking statement.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
Aurora Solar Technologies Inc.
Michael Heaven, P.Eng., MBA
Chairman & CEO
+1 (778) 241-5000
Investor Relations contact:
The Howard Group
Dave Burwell/Brad Dryer
+1 (888) 221-0915