Sona Nanotech to Arrange Private Placement Financing
Halifax, Nova Scotia – (Newsfile Corp. – July 31, 2024) – Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the “Company”, “Sona”) is pleased to announce that it plans to raise up to $1,500,000 through a private placement financing (the “Financing”) of up to 6,000,000 common shares of Sona (each, a “Share”) at a price of $0.25 per Share (the “Offering Price”). Insiders and certain other existing shareholders of Sona may also subscribe for Shares under the Financing.
Numus Capital Corp. (the “Finder”) will act as the exclusive Finder for the Financing. Sona has also agreed to submit a list of certain potential subscribers in the Financing to the Finder (the “President’s List”). As compensation for its services, the Finder will receive cash compensation equal to 7.0% of the gross proceeds of the Financing (5.0% for subscribers on the President’s List). The Finder will also receive non-transferable share purchase warrants (the “Broker Warrants”) which will entitle the Finder to acquire such number of common shares as is equal to 7% of the number of Shares placed by the Finder (5% for subscribers on the President’s List). The Broker Warrants will be exercisable at a price of $0.25 per share for a period of 24 months from the closing date of the Financing. The Finder is a related party to Sona, a director of Sona being indirectly a principal shareholder of the Finder as well as a director and officer of the Finder.
