Altair Nanotechnologies Completes Funding

May 08, 2002 by Jeff Shepard

Altair International Inc./Altair Nanotechnologies Inc. (Reno, NV) announced that it has completed a $1,000,000 equity placement with two accredited institutional investors. Under the terms of the agreement, Altair Nanotechnologies will issue units containing one share of the company's common stock in addition to one-quarter of a warrant. The warrant entitles the holder to purchase one share of Altair common stock.

"Our partnership with these successful, experienced institutional investors is the first of a number of steps identified to increase the company's presence in the marketplace and grow revenues," said Altair CEO William Long. "We view this initial investment as a confirmation of our business strategy, the strength of our management team, and the significant potential presented the investors by an emerging industry where markets cannot be quantified."