Mr. Paul Woodward reports
AETHER CATALYST SOLUTIONS ANNOUNCES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Further to Aether Catalyst Solutions Inc.'s news releases dated June 2, 2021, the company has completed a first tranche of its non-brokered private placement consisting of the issuance of up to 5,714,286 units at a price of 17.5 cents per unit for gross aggregate proceeds of up to $1-million, pursuant to which the company has issued 4,169,550 units for total gross aggregate proceeds of $729,671.25.
Each unit consists of one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to purchase one additional share at a price of 22.5 cents per warrant share for a period of 24 months from the date of closing of the private placement.
The gross proceeds of the private placement will be used to primarily finance continuing operating expenses of the automotive program and continued development of the recently announced small motors program, where the company is adapting its technology for utilization in the emissions abatement of small motors.
The company confirms that there is no material fact or material change about the company that has not already been generally disclosed.
The company paid finders' fees of up to 8 per cent cash and 10 per cent finders' warrants to PI Financial Corp., Canaccord Genuity Corp., Leede Jones Gable Inc., Haywood Securities Inc., IA Private Wealth Inc. and Kilcona Capital Inc. on this tranche of the offering. All securities issued in connection with the private placement and the debt settlement will be subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45 -- Resale of Securities.
About Aether Catalyst Solutions Inc.
Aether Catalyst Solutions is focused on providing an order of magnitude cost reduction in automotive catalytic converter catalyst, while meeting or exceeding government emission standards. Aether is working to quickly advance its technology through rapid screening of new materials directed at enhancing end-of-life conversion levels after accelerated aging. While Aether's primary focus has been automotive applications, the company is also developing catalysts to address small motors emissions a significant contributor to urban air pollution.
We seek Safe Harbor.
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