September 23, 2009, 2009 (FinancialWire) — Naturally Advanced Technologies Inc. (TSX Venture: NAT) (OTCBB: NADVF) has closed a non-brokered private placement consisting of 833,060 units at a subscription price of CDN$1.20 per unit, and for gross proceeds of CDN$999,672, or $916,366.

Each unit is comprised of one common share and one-half of one share purchase warrant of the company. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of CDN$1.50 per warrant hare until September 21, 2012.

All shares issued and any warrant shares issued in connection with the exercise of any of the warrants will be subject to a four month hold period expiring on January 22, 2010. The company plans to use the proceeds to advance development of its business and for general working capital.

Portland, Oregon-based Naturally Advanced Technologies 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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