An anonymous director reports

NANO ONE ANNOUNCES CLOSING OF $28.9 MILLION BOUGHT DEAL OFFERING OVER-ALLOTMENT OPTION EXERCISED IN FULL

Nano One Materials Corp. has closed its previously announced bought deal financing.

The company issued a total of 5,405,000 common shares at an offering price of $5.35 per common share, including 705,000 common shares issued pursuant to the exercise of the overallotment option, in full, for gross proceeds of approximately $28.9-million.

The common shares were offered on a bought deal basis by a syndicate of underwriters co-led by TD Securities Inc. and Roth Canada ULC, and including Eight Capital and Gravitas Securities Inc.

In connection with the offering, the company paid to the underwriters a cash fee of 6 per cent of the aggregate gross proceeds raised from the offering and issued to the underwriters 324,299 non-transferable compensation warrants, equal to 6 per cent of the number of common shares sold under the offering. Each compensation warrant is exercisable into one common share at the issue price for a period of 12 months following closing, expiring on April 1, 2022.

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 general corporate purposes.

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-material 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 funded 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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