Natcore arranges $1.25-million private placement

Mr. Charles Provini reports

NATCORE ANNOUNCES $1,250,000 NON-BROKERED PRIVATE PLACEMENT

Natcore Technology Inc. has arranged a non-brokered private placement of up to 3,125,000 units at a price of 40 cents per unit for aggregate gross proceeds of $1.25-million. Each unit comprises one common share and one warrant for the purchase of a further common share at 75 cents for a period of two years from closing.

The warrants will be subject to forcible conversion within 30 days of delivery of notice from Natcore, in the event the shares of Natcore close at over $1.50 for 20 consecutive trading days.

Proceeds of the placement will be applied to the company's forthcoming research and development activities concerning quantum dot tandem solar cells.

Finders' fees may be payable on all or a portion of the financing. Natcore's chairman, Brien Lundin, notes that: "With this additional financing in place, we can fully and aggressively implement our research and development plans for all the currently known applications of our proprietary liquid phase deposition (LPD) process. Just as important, we can focus on the discovery and advancement of exciting new applications."

According to company president and chief executive officer, Charles Provini: "The successful completion of this private placement will allow Natcore to finance the development of production equipment for growing the thin oxide films necessary in silicon solar cells and semiconductors. I'm particularly excited because this financial infusion will also allow us to fast forward research into the production of super efficient tandem solar cells using our LPD process."

We seek Safe Harbor.