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Burnaby, British Columbia--(Newsfile Corp. - July 22, 2024) - Aether Catalyst Solutions, Inc. (CSE: ATHR) (FSE: 2QZ) ("ATHR" or the "Company") announces that, further to its news releases dated June 28, 2024 and July 15, 2024, it has completed the final tranche of its non-brokered private placement of units (each, a "Unit") of the Company at a price of $0.055 per Unit (the "Private Placement"). At this final closing, the company issued 600,000 Units for gross proceeds of $33,000. Together with the first closing, the Company issued an aggregate of 2,962,818 units for gross proceeds of $162,955.
Each Unit consists of one common share in the capital of the Company (each, a "Share") and one-half (1/2) a Share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional Share (each, a "Warrant Share") at a price of $0.10 per Warrant Share for a period of twelve (12) months from the date of closing of the Private Placement.
The gross proceeds of the Private Placement will be used to primarily fund ongoing operating expenses of the automotive program and continued development of the small motors program.
The Company confirms that there is no material fact or material change about the company that has not already been generally disclosed.
In connection with the second and final tranche of the Private Placement, the Company paid finder's fees of $3,300 and issued 60,000 Finders' Warrants (the "Finders' Warrants") entitling the holder to purchase a Share at a price of $0.055 per Share for a period of 12 months from closing of the Private Placement.
ABOUT THE COMPANY:
Aether Catalyst Solutions, Inc. is focused on providing an order of magnitude cost reduction in automotive catalytic converter catalyst, while meeting, or exceeding government emission standards. Aether is working to quickly advance its technology through rapid screening of new materials directed at enhancing end of life conversion levels after accelerated aging. While Aether's primary focus has been automotive applications, the company is also developing catalysts to address small motors emissions - a significant contributor to urban air pollution.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aether Catalyst Solutions, Inc.
Paul Woodward
President
Tel: 604 690-3797
http://www.aethercatalyst.com
The Canadian Securities Exchange ("CSE") or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this management prepared news release.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Aether described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedar.com.
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DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217416
