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Green Markets: Naturally Advanced Raises $1.4 Million From Units Sale

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May 24, 2010 (FinancialWire) — Naturally Advanced Technologies Inc. (OTCBB: NADVF) (TSX Venture: NAT) said it has closed the non-brokered private placement under which it has issued from treasury 1,424,739 units of the company, at a subscription price of $1 per unit for gross proceeds of $1,424,739.

Each unit is comprised of one common share and one-half of one share purchase warrant of the company, with each whole warrant entitling the subscriber thereof to acquire one additional common share of the company at an exercise price of $1.25 per warrant share up to and including May 19, 2013.

All of the shares issued and any warrant shares issued in connection with the exercise of any of the warrants, if any, are subject to a hold period expiring on September 20, 2010.

Oregon-based Naturally Advanced Technologies aims to unlock 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.

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