Press Release

The Coretec Group, Inc. Announces Closing of $6.0 Million Private Placement Offering

ANN ARBOR, MI / ACCESSWIRE / March 5, 2021 – The Coretec Group, Inc., (OTCQB:CRTG) (the “Company”), a company developing a portfolio of silicon-based products in energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs) and semi-conductors, today announced the closing of its previously announced private placement offering of 75,000,000 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 82,500,000 shares of common stock, at a combined purchase price of $0.08 per share and associated warrant. The warrants have an exercise price of $0.08 per share, will be immediately exercisable and will expire five and one-half years from the issue date.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The gross proceeds from the private placement offering were approximately $6.0 million. The Company intends to use the net proceeds primarily to expand and accelerate the development of its CHS technology, as well as for working capital and general corporate purposes.

The offer and sale of the foregoing securities were made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

Under an agreement with the investors, the Company is required to file an initial registration statement with the Securities and Exchange Commission covering the resale of the securities issued to the investors within 20 calendar days and to use its best efforts to have the registration statement declared effective as promptly as practical thereafter, and in any event no later than 90 days after today in the event of a “full review” by the Securities and Exchange Commission.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor there any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About The Coretec Group, Inc.

The Coretec Group, Inc. is an innovator and supplier of advanced material technologies designed to improve the technology serving the Global Challenge markets in energy, electronics, semiconductor, solar, health, environment, and security.

For more information, visit Follow The Coretec Group on TwitterLinkedIn, and Facebook.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect,” and similar expressions identify such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These statements include, without limitation, statements related to the intended use of proceeds. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: market and other conditions, the impact of economic, competitive, and other factors affecting the Company and its operations, and other factors detailed in reports filed by the Company with the Securities and Exchange Commission.

Corporate contact:

The Coretec Group, Inc.
Lindsay McCarthy

Marketing contact:

The Coretec Group, Inc.
Allison Gabrys

Released March 5, 2021

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