North Vancouver, British Columbia--(Newsfile Corp. - February 14, 2020) - Aurora Solar Technologies Inc. (TSXV: ACU) (the "Company") wishes to announce a non-brokered private placement for gross proceeds of up to $1,500,000 (the "Offering") through the sale of up to 15,000,000 units (each a "Unit") of the Company at a price of $0.10 per Unit (the "Offering"). Each Unit consists of one common share of the Company (the "Shares") and one share purchase warrant to acquire a Share at an exercise price of $0.15 for a period of one year. The Offering may be increased at the discretion of the Company by up to 25% as an overallotment option.
The Company may pay finder's fees on all or a portion of the Offering. All securities issued will be subject to a hold period expiring four months and one day following closing. The net proceeds of the Offering will be used for ongoing development of its Insight product and for general working capital.
The Offering is subject to compliance with applicable securities laws and approval of the TSX Venture Exchange.
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.
For further information contact:
Gordon Deans, P.Eng.
President and Chief Executive Officer
Aurora Solar Technologies Inc.
Phone: +1 (778) 241-5000
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.
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