Investor Update Call Set for Wednesday, October 24
VICTORIA, BC
& PORTLAND, OR, Oct. 11, 2012 /PRNewswire/ - Naturally Advanced
Technologies Inc. (TSXV: NAT) (OTCBB: NADVF) ("NAT" or the
"Company") is pleased to announce that the Company has closed the
final tranche of its previously announced non-brokered private
placement pursuant to which it has now issued an additional 198,587
units (each a "Unit") of the Company in this instance, at a
subscription price of US$2.21 per
Unit, for additional gross proceeds to the Company of US$438,877 (the "Private Placement"). The total
Units issued in this non-brokered private placement are 1,067,774
for total gross proceeds to the Company of US$2,359,780.
Each Unit is comprised of one common share (each
a "Share") and one-half of one transferable share purchase warrant
(each a "Warrant") of the Company, and each whole Warrant now
entitles the holder thereof to purchase one additional common share
(each a "Warrant Share") of the Company at an exercise price of
US$3.45 per Warrant Share up to and
including October 10, 2014.
All Shares issued pursuant to this final tranche
of the Private Placement, and any Warrant Shares issued in
connection with the exercise of any of the Warrants, if any, will
be subject to a hold period expiring on February 11, 2013, in accordance with the
policies of the TSX Venture Exchange and applicable securities
laws.
"With the conclusion of this additional financing we are now
able to complete the installation of our facility in Pamplico, South Carolina as well as execute
the resolutions approved at our recent shareholders meeting" said
Ken Barker, CEO of NAT.
The Company will hold a conference call on Wednesday, October 24th, at 1:30 pm PDT, 4:30 pm
EDT, at which time Mr. Barker will provide an update on the
Company's strategic initiatives as presented at the Company's most
recent Annual General Meeting followed by a question and answer
session.
Event Details
* To participate via telephone, please dial 888-503-8169,
or 719-325-2495 for callers outside the U.S.at least 5-10
minutes before the presentation start time.
* To listen by webcast please join at the investor relations
section of the NAT website:
http://www.crailar.com/company/investors
If you are unable to participate during the live webcast and
call, the telephone replay will be available until midnight EDT, October 31,
2012 by dialing 877-870-5176, or 858-384-5517 for
international callers, and entering pin number 2349217. The webcast
will be available for replay for one week at
http://www.crailar.com/company/investors
The securities offered have not been and will
not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or
applicable exemption from the registration requirements. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful. Any public offering of securities to
be made in the United States must
be made by means of a prospectus containing detailed information
about the Company and management, as well as financial
statements.
Neither the TSX Venture Exchange Inc. nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
About Naturally Advanced Technologies Inc.
Naturally Advanced Technologies Inc., through its wholly owned
subsidiary, CRAiLAR® Fiber Technologies Inc., has developed
proprietary technologies for production of bast fibers, cellulose
pulp, and their resulting by-products in collaboration with
Canada's National Research Council. Its renewable and
environmentally sustainable biomass resources from flax, hemp and
other bast fibers offer cost-effective and environmentally
sustainable processing and production, along with increased
performance characteristics for use in textile, industrial, energy,
medical and composite material applications. The Company was
founded in 1998 as a provider of environmentally friendly, socially
responsible clothing. For more information, visit
www.naturallyadvanced.com.
ADVISORY: This press release contains forward
looking statements which may include statements concerning
completion of any proposed acquisitions, capital programs, debt,
funds flow from operations, and the anticipated use of the net
proceeds of the Private Placement. Although NAT believes that the
expectations reflected in these forward looking statements are
reasonable, undue reliance should not be placed on them because NAT
can give no assurance that they will prove to be correct. Since
forward looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Any proposed acquisition may not be completed if required approvals
or some other condition to closing is not satisfied. Accordingly,
there is a risk that any proposed acquisition or offering will not
be completed within the anticipated time or at all. The intended
use of the net proceeds of the Private Placement by NAT might
change if the board of directors of NAT determines that it would be
in the best interests of NAT to deploy the proceeds for some other
purpose.
The forward looking statements contained in
this press release are made as of the date hereof and NAT
undertakes no obligations to update publicly or revise any forward
looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by
applicable securities laws.
The TSX Venture Exchange has neither approved
nor disapproved the contents of this press release.
SOURCE Naturally Advanced Technologies Inc.