North Vancouver, British Columbia--(Newsfile Corp. - March 12, 2020) - Aurora Solar Technologies Inc. (TSXV: ACU) (OTC Pink: AACTF) (FSE: A82) ("Company") is pleased to announce that it has closed the second and final tranche of a non-brokered private placement. This tranche consists of 2,080,000 units ("Units") at a price of $0.10 per Unit for gross proceeds of $208,000. Each Unit consists of one common share (a "Share") and one share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one additional Share (a "Warrant Share") for a period of 12 months at a price of $0.15 per Warrant Share. The total number of Units for both tranches of this private placement to 18,935,000 units.
The Company paid $6,360 in cash and issued 15,000 Units as finders' fees for this tranche.
All securities will be subject to a 4-month hold period which expires on July 13, 2020. The funds will be used for working capital for new product development and market introduction, to expand delivery and support operations, and for general corporate purposes.