Altair Nanotechnologies Announces Shelf Registration Closing

Altair Nanotechnologies Inc. (Reno, NV) announced that it has entered into definitive agreements with respect to the sale of five million shares of its common stock to institutional investors at a price of $4.05 per share, for gross proceeds of approximately $20,250,000. Following closing of the financing, Altair expects to receive approximately $19,237,500 after deducting all fees and expenses.

With the completion of the placement, Altair will have 56,794,724 shares of common stock issued and outstanding. The proceeds will be used for general corporate purposes, including, but not limited to, working capital, capital expenditures, research and development activities, and the acquisition of other technologies.