Nano One Materials Corp (TSX:NANO, OTC:NNOMF) announced an equity distribution agreement with Canaccord Genuity Corp and Roth Canada to establish an at-the-market (ATM) equity issuance program that may distribute up to C$15 million worth of Nano One Materials common shares from time to time.
The process technology company specializing in lithium-ion battery cathode active materials said it currently intends to use the net proceeds, if any, to fund ongoing operations.
"ATM programs are a cost-effective and flexible way to raise capital over time, and they enhance our ability to respond when ideal market conditions exist," Nano One Materials chief financial officer Carlo Valente said in statement.
"The ATM program will provide us with an additional opportunity to strengthen our balance sheet incrementally and it also leverages previously announced policy funding support from the Governments of Québec and Canada, as well as the US Department of Defense."