N@N

Natcore Technology Inc.: Natcore Closes $1,165,000 Non-Brokered Private Placement

^{Published on 2009-09-02 06:25:23 - Market Wire}
 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 2, 2009) - Natcore Technology Inc. (TSX VENTURE:NXT) ("Natcore" or the "Company") reports that, further to its news release dated June 29, 2009 the Company has completed a non-brokered private placement of up to 2,912,500 Units at a price of $0.40 per Unit for aggregate gross proceeds of $1,165,000. Each Unit comprised of one common share and one warrant ("Warrants") for the purchase of a further common share at $0.75 until August 31, 2011. The Warrants will be subject to forcible conversion within 30 days of delivery of notice from Natcore, in the event the shares of Natcore close at over $1.50 for 20 consecutive trading days.

Finder's fees of $115,700 representing 10% of the proceeds placed and 289,250 Warrants representing 10% of the Units placed were paid to a finder on the majority of the placement.

Proceeds of the placement will be applied to the Company's forthcoming research and development activities concerning quantum dot tandem solar cells.

All of the securities issued in the placement are subject to a four month hold period expiring on January 1, 2010.

On behalf of the Board of Directors,

Charles Provini, President & Chief Executive Officer

Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or the Company's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither 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.