SEOUL, SOUTH KOREA — (Marketwire) — 01/13/12 — Nesscap Energy Inc. (“Nesscap”) (TSX VENTURE: NCE), a global leader in research, development and manufacturing of ultracapacitor products, today announced the completion of its previously announced financing from RUSNANO and I2BF Global Ventures.
RUSNANO and I2BF respectively subscribed for 50,955,000 and 2,681,842 Nesscap common shares, at a price of CAD $0.38 per share, for aggregate gross proceeds of US $20,000,000 (based on a USD-CAD exchange rate of 1.0191). Proceeds from this financing will be used for the establishment of a full scale production facility for ultracapacitors and research centre in the Russian Federation (US $15,000,000) and for the expansion of Nesscap-s current manufacturing and core R&D operations in Korea and for general corporate purposes (US $5,000,000). The common shares issued in connection with this financing will have a hold period in Canada until May 14, 2012.
In addition, RUSNANO also provided an additional US $11,500,000 loan facility to Nesscap Energy Eastern Europe LLC, a wholly-owned subsidiary of Nesscap, to be used in connection with the establishment of its production facility in the Russian Federation.
About Nesscap
Since its inception in 1999, Nesscap Energy Inc., has become an award winning global leader in technology innovation and product development of ultracapacitors. Attributes of the ultracapacitor allow for the technology to be used in applications where power, life cycle requirements or environmental conditions limit the suitability of batteries or capacitors. Uniquely structured, Nesscap products are used to replace or enhance the performance of energy and power needs for modern applications ranging from portable electronic devices to high-tech -green- cars and are available in both cells and modules. Nesscap features the widest array of standard commercial products in the market from 3 farads to 6,200 farads with industry recognized alternative organic electrolytes. Customers of the Company include transportation, power, and consumer markets. Technical and sales information can be found at .
Forward-Looking Statements
Included in this news release are matters that constitute “forward-looking” information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may” or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way approved or disapproved of the contents of this press release.
Contacts:
Nesscap Energy Inc.
Debbie Bamforth
Corporate Communications
905-599-3322
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