Nano One Announces Closing of $28.9 Million Bought Deal Offering Over-Allotment Option Exercised in Full

Vancouver, British Columbia–(Newsfile Corp. – April 1, 2021) – Nano One® Materials Corp. (TSXV: NNO) (OTC Pink: NNOMF) (FSE: LBMB) (“Nano One” or the “Company”), a technology company with a patented and scalable industrial process for the production of low cost, high performance cathode materials used in lithium-ion batteries, today is pleased to announce that it has closed its previously announced bought deal financing (the “Offering”).

The Company issued a total of 5,405,000 common shares (the “Common Shares”) at an offering price of $5.35 per Common Share (the “Issue Price”), which included 705,000 Common Shares issued pursuant to the exercise of the over-allotment 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 led by TD Securities Inc. and Roth Canada, ULC (the “Lead Underwriters”) and Eight Capital and Gravitas Securities Inc. (together with the Lead Underwriters, the “Underwriters”).

In connection with the Offering the Company paid the Underwriters a cash fee of 6% of the aggregate gross proceeds raised from the Offering and issued to the Underwriters 324,299 non-transferable compensation warrants (the “Compensation Warrants”) equal to 6% 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 April 1, 2022.

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

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 state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

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About Nano One

Nano One Materials Corp. (“Nano One”) 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 funded with the assistance and support of the Government of Canada through Sustainable Development Technology Canada (SDTC) and the Automotive Supplier Innovation Program (ASIP) a program of Innovation, Science and Economic Development Canada (ISED). Nano One also receives financial support from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). 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. For more information, please visit www.nanoone.ca.

Company Contact:
Paul Guedes
info@nanoone.ca
(604) 420-2041

Media Contact:
Lisa Nash
Antenna Group for Nano One
nanoone@antennagroup.com
(646) 883-4296

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or forward-looking information (“forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements and information other than statements of or information regarding historical fact contained in this news release are forward-looking statements. Often, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “continue”, “projected”, “potential”, “proposed”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “likely” or “will” be taken, occur or be achieved.

Forward-looking statements herein include, but are not limited to, statements or information with respect to the use of proceeds of the Offering.

Forward-looking statements are based on a number of assumptions that management considers reasonable, however, if such assumptions prove to be inaccurate, then actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements. These assumptions include those set out below and, except where otherwise stated, Nano One has assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. With respect to the forward-looking statements contained in this news release, Nano One has made assumptions regarding, among other things: timely receipt of the necessary regulatory (including stock exchange) approvals and other required approvals; use of proceeds; stability of general economic and financial market conditions; and the impact of the COVID-19 pandemic.

Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause actual results, activities, performance or achievements to be materially different from those described in the forward-looking statements. Nano One is subject to material and other risks that could cause actual results to differ significantly from Nano One’s current expectations, including the factors disclosed under “Risk Factors” in the Company’s annual information form for the fiscal year ended December 31, 2020.

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