Nanotech Security Corp. Completes Patent Entity Acquisitions and Converts $4.17 million of Subscription Receipts into Equity ...
September 30 2013 - 9:21AM
Access Wire
Vancouver, British Columbia, September 30th,
2013: Nanotech Security Corp. (the
“Company”) (TSX-V: NTS),
developer of next-generation security and authentication features
using patented nano-optical technologies, announces
that it has now completed the two previously announced
corporate acquisitions and therefore 5,210,500 recently issues
subscription receipts have been converted into 5,210,500 equity
Units (each Unit is a common share + 0.5 warrant). This closing
follows the announcements of these inter-related transactions on
August 1, and September 5, 2013.
The final acquisition terms for 100% of IDIT technologies Corp
and 95% IDME Technologies Corp. captures 98.5% by value of the two
Companies. Of the 3,940,000, million shares issuable for the
acquisitions, 3,705,103 shares were issued at closing and 244,897
shares are issuable subject to Nanotech shareholder’s approval.
Subscription receipts investors unanimously agreed to amend the
subscription receipts conversion conditions to accommodate the 95%
purchase of IDME.
Nanotech CEO Doug Blakeway commented “We are glad to have
completed these transactions which have given us a solid balance
sheet and provided the Company with rights to not only all the
nano-optical intellectual property rights that it was previously
licensing along with a reduction of royalties from 9% to 3%, but
has also given us a suite of complementary technologies which we
believe will in future open many new doors for the Company.”
More information about the Company can be found at the Company’s
website www.nanosecurity.ca or www.sedar.com .
On Behalf of the Board of Directors
of
Nanotech Security Corp.
“Doug H. Blakeway”
President and CEO
Contact:
Media Contact: Jackie Henry
jp@nanosecurity.ca
+1.778.384.3384
Investor Relations: Sean Peasgood
sean@spectrumcapitalinc.com
+1.416.565.2805
Nanotech Security (TSXV:NTS)
Historical Stock Chart
From Sep 2024 to Oct 2024
Nanotech Security (TSXV:NTS)
Historical Stock Chart
From Oct 2023 to Oct 2024