Nanotech Closes Final Tranche of Upsized $4.18 Million FinancingWednesday, June 22, 2016
Vancouver, BC, June 22, 2016--(T-Net)--Nanotech Security Corp. (TSX VENTURE: NTS)(NTSFF), announced today that, further to its news release of May 26, 2016 and subsequent upsizing to $4.0 million on June 9, 2016, it has closed a second and final tranche of its convertible debenture private placement (the "Second Tranche Closing").
The Second Tranche Closing consisted of 1,680 convertible debentures at a price of $1,000 per debenture for gross proceeds of $1,680,000, for an aggregate of $4,185,000 gross proceeds raised.
The unsecured senior debentures (the "Debentures") bear interest at 12% and come due May 31, 2018. The Debentures are subject to automatic conversion in the event that the common shares of the Company trade on the TSXV at or above $2.00 for ten consecutive days any time after four months from issuance.
About Nanotech Security
Through its security and surveillance divisions, Nanotech Security Corp. has been a leading innovator in the design and production of advanced security products and surveillance solutions for a number of years. Nanotech's KolourOptik® and Plasmogram™ products are nanotechnology based product platforms originally inspired by the unique optical properties of the iridescent wings of the Blue Morpho butterfly. Our security products produce intense, high definition optically-variable images and colour-shift optical thin films. Activated by a simple tilt or rotation, with higher resolutions than the best LED-displays, they are ideal for authentication of currency, passports, and identification cards in addition to distinguishing branded goods from counterfeits. Our surveillance division designs and manufactures sophisticated surveillance and intelligence gathering communications and forensic equipment for the law enforcement and intelligence community as well as runs a state of the art training academy where we provide technical surveillance training to the law enforcement community.
Additional information about Nanotech can be found at the Company's websitewww.nanosecurity.ca, the Canadian disclosure filings website www.sedar.com or the OTCMarkets disclosure filings website www.otcmarkets.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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