Nano One Materials Corp. announced a non-brokered private placement of 5,498,355 common shares at a price of CAD 3.07 for the gross proceeds of CAD 16,879,950 on September 25, 2023. The transaction will include participation from new investor, Sumitomo Metal Mining Co., Ltd. The Shares will be subject to hold period of four months and a day under applicable Canadian securities law.

Closing is subject to certain customary closing conditions, including the approval of the Toronto Stock Exchange. The transaction is expected to close in next 30 days.