Natcore Technology Inc.

Natcore Technology Inc.

June 29, 2009 20:02 ET

Natcore Announces $1,250,000 Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2009) - Natcore Technology Inc. (TSX VENTURE:NXT) ("Natcore" or the "Company") reports that the Company has arranged a non-brokered private placement of up to 3,125,000 Units at a price of $0.40 per Unit for aggregate gross proceeds of $1,250,000. Each Unit is comprised of one common share and one warrant ("Warrants") for the purchase of a further common share at $0.75 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. Finder's fees may be payable on all or portion of the financing.

Natcore's chairman, Brien Lundin, notes that, "With this additional funding in place, we can fully and aggressively implement our R&D plans for all the currently known applications of our proprietary Liquid Phase Deposition process. Just as important, we can focus on the discovery and advancement of exciting new applications."

According to Company President and CEO Charles Provini, "The successful completion of this private placement will allow Natcore to fund 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."

On behalf of the Board of Directors,

Charles Provini, President & Chief Executive Officer

Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or the Company's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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