![]() Often but not always, forward-looking information can be identified by the use of words such as 'pursuing', 'potential', 'predicts', 'projects', 'seeks', 'plans', 'expect', 'intends', 'anticipated', 'believes' or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results 'may', 'could', 'should', 'would' or 'will' be taken, occur or be achieved. This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, statements with respect to the business strategies, product development, expansion plans and operational activities of the Company. Vice President, Corporate Development and Communications META® technology platforms enable global brands to develop new products to improve performance for customers in aerospace and defense, consumer electronics, 5G communications, batteries, authentication, automotive and clean energy. Advanced materials can improve everyday products that surround us, making them smarter and more sustainable. We develop new products and technologies using innovative sustainable science. (META) is an advanced materials and nanotechnology company. More details about the Purchase Agreement may be found in the Company's Current Report on Form 8-K, which the Company filed with the SEC on September 12, 2023. 'This infusion of capital will serve as a catalyst in advancing the commercialization of our strategic focus products, which include authentication solutions, transparent conductive films, battery materials, and wide area motion imagery.' 'We are pleased to enter into this agreement with Greg McCabe, one of META's largest private shareholders,' said George Palikaras, President & CEO of META. On September 8, 2023, META received the first drawdown payment of $250,000, for 901,006 shares of the Company's Common Stock, at $0.2775 per share. ![]() The price per share paid by the Purchaser will be equal to 120% of the 5-day VWAP (the daily volume weighted average price of META's common stock on the Nasdaq market) on the trading day. Additionally, the Purchaser has the option to pay more than the specified drawdown amounts at any point, up to the full $6 million, thereby accelerating the full payments. For the first six months, each drawdown will be $250,000, and for the remaining nine months, each drawdown will be $500,000. During the Investment Period, the Company can sell up to an aggregate of $6 million of its Common Stock to the Purchaser with up to 15 drawdowns. The Purchase Agreement has a term of 15 months (the 'Investment Period'). The Company also entered into a registration rights agreement with the Purchaser, providing for the registration of the shares of Common Stock issuable with respect to the purchase agreement.Īs disclosed on August 9, 2023, in the Company's Quarterly Report on Form 10-Q, in connection with the Loan Sale Agreement by and between the Company and Gregory McCabe, the Company anticipated entering into a purchase agreement, and the Purchaser agreed to purchase an aggregate of $6 million of shares of the Company's Common Stock. (the 'Company' or 'META') (NASDAQ:MMAT), a global leader in advanced materials and nanotechnology, today announced that it has entered into a common stock purchase agreement (the 'Purchase Agreement') with Gregory McCabe, an individual (the 'Purchaser'), providing for the purchase of up to an aggregate of $6 million of shares of the Company's common stock, $0.001 par value per share (the 'Common Stock'). ![]() HALIFAX, NS / ACCESSWIRE / Septem/ Meta Materials Inc.
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