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Burnaby, British Columbia--(Newsfile Corp. - July 15, 2024) - Aether Catalyst Solutions, Inc. (CSE: ATHR) (FSE: 2QZ) ("ATHR" or the "Company") announces that, further to its news releases dated June 28, 2024, it has completed the first 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 closing, the company issued 2,362,818 Units for gross proceeds of $129,955.
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 cash finder's fees of $5,000 and issued 100,000 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.