New Issue: Advance Nanotech closes private placement for $9.4 million

By Sheri Kasprzak

Atlanta, Jan. 26 - Advance Nanotech Inc. has wrapped a private placement for $9,397,500.

The company sold 4,698,750 shares at $2 each to accredited investors.

The investors also received one warrant for every two shares of stock purchased in the offering, for a total of 2,349,375 warrants. The warrants allow for an additional share at $3 each for three years.

Advance Nanotech, based in New York, acquires and commercializes nanotechnology for the electronics, biopharmaceuticals and materials markets.

Issuer:	Advance Nanotech Inc.
Issue:	Stock
Amount:	$9,397,500
Shares:	4,698,750
Price:	$2.00
Warrants:	For 2,349,375 shares
Warrant expiration:	Three years
Warrant strike price:	$3.00
Settlement date:	Jan. 20
Stock price:	$13.50 at close Jan. 20

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