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OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION
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VANCOUVER, BC, April 21, 2021 /CNW/ - Aurora Solar Technologies
Inc. (TSXV: ACU) (the "Company" or "Aurora) is
pleased to announce that it has entered into an agreement with
Stifel GMP to act as sole agent in connection with a proposed best
efforts overnight marketed private placement of units of the
Company (the "Units") for aggregate gross proceeds to the
Company of approximately C$3,000,000,
at a price of C$0.25 per Unit (the
"Treasury Offering"). Each Unit will consist of one
common share in the capital of the Company (each, a "Common Share")
and one-half common share purchase warrant (each whole common share
purchase warrant, a "Warrant") of the Company. Each whole Warrant
shall entitle the holder thereof to acquire one common share in the
capital of the Company (each, a "Warrant Share") at a price
of C$0.40 per Warrant Share, until
the date which is 12 months following the Closing Date, subject to
adjustment in certain events. The Warrants shall be callable
by the Company, at the discretion of the Company, should the daily
volume-weighted average trading price of the common shares of the
Company on the TSX Venture Exchange exceed C$0.50 for a period of 20 consecutive trading
days, at any time during the term of the Warrants ("Call
Trigger"). Following a Call Trigger, the Company may give
notice in writing ("Call Notice") to the holders of Warrants
that any Warrant that remains unexercised by the holder thereof
shall expire 30 days following the date on which the Call
Notice is given.
The Company will grant the Agent an option (the "Agent's
Option") to increase the size of the Offering by up to an
additional 15% of the Units sold under the Offering, exercisable in
whole or in part, at any time and from time to time up to 48 hours
prior to the Closing Date.
The net proceeds will be used for the market roll-out of the
InsightTM data science product, called "Insight
Essentials", for solar cell production yield optimization and for
general corporate purposes.
The Treasury Offering is scheduled to close on or about
May 13, 2021 and is subject to
certain conditions including, but not limited to, the receipt of
all necessary regulatory and other approvals including the approval
of the TSX Venture Exchange.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or
any state securities laws and may not be offered or sold within
the United States or to or for the
account or benefit of a U.S. person (as defined in Regulation S
under the U.S. Securities Act) unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
About Aurora Solar Technologies:
Aurora Solar Technologies is a leader in the development and
delivery of inline process measurement, analysis and control
systems for solar cell manufacturers. We believe that solar power
will dominate the renewable energy field, and our mission is to
bring quality and profitability to every customer through superior
control of critical processes during solar cell manufacturing.
Aurora's products are used by some of the world's most advanced
and respected solar cell manufacturers. With headquarters near
Vancouver, Canada, Aurora has
operations in Shanghai, China and
partners in all major solar manufacturing markets. Aurora is a
public company, traded on the TSX Venture Exchange (ACU) and is a
two-time TSX-V Top 50 winner. Aurora's website is located at
www.aurorasolartech.com.
Neither the TSX Venture Exchange 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.
SOURCE Aurora Solar Technologies Inc.
