PORTLAND, OR, May 18 /PRNewswire-FirstCall/ - Naturally
Advanced Technologies Inc. (OTCBB: NADVF) (TSXV: NAT) (the
"Company") announces that, further to its most recent news release
dated May 14, 2010, it has increased
its non-brokered private placement (the "Private Placement") from
1,400,000 to up to 1,500,000 units (each a "Unit") of the Company
at the same subscription price of CAD$1.00 per Unit.
Each Unit of the Private Placement is still comprised of one
common share and one-half of one share purchase warrant (each a
"Warrant") of the Company, with each whole Warrant entitling the
subscriber thereof to acquire an additional common share (each a
"Warrant Share") of the Company for a period of three years from
the date of issuance of the Warrants at an exercise price of
CAD$1.25 per Warrant Share.
Finders' fees may be paid by the Company in conjunction with the
completion of the Private Placement in accordance with TSX Venture
Exchange policies. Proceeds of the Private Placement will be used
to advance the development of the Company's business and for
general corporate and working capital purposes.
About Naturally Advanced Technologies Inc.
Naturally Advanced Technologies Inc. is committed to unlocking
the potential of renewable and environmentally sustainable biomass
resources from hemp and other bast fibers. The Company, through its
wholly owned subsidiary, Crailar Fiber Technologies Inc., is
developing proprietary technologies for production of bast fibers,
cellulose pulp, and their resulting by-products, in collaboration
with Canada's National Research Council and the Alberta Research
Council. Crailar(R) technology offers cost-effective and
environmentally sustainable processing and production of natural,
bast fibers such as hemp and flax, resulting in increased
performance characteristics for use in textile, industrial, energy,
medical and composite material applications. The Company was
founded in 1998 as a provider of environmentally friendly, socially
responsible clothing and adheres to a "triple bottom line"
philosophy, respecting the human rights of employees, the
environmental impact of the Company's operations and fiscal
responsibility to its shareholders. See
www.naturallyadvanced.com.
Neither the TSX Venture Exchange Inc. 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.
Forward Looking Statement Disclaimer
This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this news release,
other than statements of historical facts, are forward-looking
statements. Forward-looking statements or information are subject
to a variety of risks and uncertainties which could cause actual
events or results to differ from those reflected in the
forward-looking statements or information and including, without
limitation, risks and uncertainties relating to: any market
interruptions that may delay the trading of the Company's shares,
technological and operational challenges, needs for additional
capital, changes in consumer preferences, market acceptance and
technological changes, dependence on manufacturing and material
supplies providers, international operations,
competition,regulatory restrictions and the loss of key employees.
In addition, the Company's business and operations are subject to
the risks set forth in the Company's most recent Form 10-K, Form
10-Q and other SEC filings which are available through EDGAR at
www.sec.gov. These are among the primary risks we foresee at the
present time. The Company assumes no obligation to update the
forward-looking statements.
SOURCE Naturally Advanced Technologies Inc.