Toronto, Ontario – Martinrea International Inc. (TSX: MRE) (“Martinrea” or the “Company”), a leader in the development and production of quality, lightweight metal parts, assemblies and modules and fluid management systems and complex aluminum products, announced today it intends to subscribe for 11,538,461 common shares in NanoXplore Inc. (“NanoXplore”: TSX‐V: “GRA”) pursuant to a private placement announced by NanoXplore for the issuance of common shares and convertible debentures.
Martinrea currently holds an aggregate of 5,911,800 common shares of NanoXplore shares, 2,750,000 warrants to purchase additional Shares of NanoXplore at an exercise price of $0.70 per share and 205,900 warrants to purchase additional Shares of NanoXplore at an exercise price of $2.30 per share which were acquired in two separate private placement transactions. This investment, when completed, would bring Martinrea’s ownership interest in NanoXplore to approximately 16% of the issued and outstanding Shares of NanoXplore, depending on the final size of NanoXplore’s private placement.
