An anonymous director reports

NANO ONE ANNOUNCES $25 MILLION BOUGHT DEAL OFFERING OF COMMON SHARES

Nano One Materials Corp. has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. and Roth Canada ULC pursuant to which the underwriters have agreed to purchase on a bought deal basis an aggregate of 4.7 million common shares at a price of $5.35 per share for gross proceeds of $25,145,000.

The company has agreed to grant the underwriters an overallotment option to purchase up to an additional 15 per cent of the shares at the issue price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the offering. If this option is exercised in full, the company will receive an additional $3,771,750.

The company intends to use the net proceeds of the offering for continuing research and development, pilot plant expansion, business development and strategic initiatives with partners and collaborators, and for general corporate purposes.

On or before March 22, 2021, the company will file with the securities commissions or similar regulatory authorities in each province of Canada other than Quebec, a preliminary short form prospectus relating to the issuance of the shares. The offering is anticipated to close on or about April 1, 2021, and is subject to certain customary conditions and regulatory approval, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

About Nano One Materials Corp.

Nano One Materials is developing patented technology for the low-cost production of high-performance battery materials used in electric vehicles, energy storage, consumer electronics and next-generation batteries. The processing technology addresses fundamental supply chain constraints by enabling wider raw materials specifications for use in lithium-ion batteries. The process can be configured for a range of different nanostructured materials and has the flexibility to shift with emerging and future battery market trends and a diverse range of other growth opportunities. The novel three-stage process uses equipment common to industry and Nano One has built a pilot plant to demonstrate high-volume production and to optimize its technology across a range of materials. This pilot plant program is being financed with the assistance and support of the government of Canada through Sustainable Development Technology Canada and the Automotive Supplier Innovation Program, a program of Innovation, Science and Economic Development Canada. Nano One also receives financial support from the National Research Council of Canada Industrial Research Assistance Program. Nano One's mission is to establish its patented technology as a leading platform for the global production of a new generation of nanostructured composite materials.

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