NaturalNano and Its Wholly Owned Subsidiary Bitcoin Bidder Close $2.15 Million Financing; Uses Proceeds to Submit an Application to Make a Bid at the Auction of 30,000 Bitcoins by the U.S. Marshals Service

NaturalNano and Its Wholly Owned Subsidiary Bitcoin Bidder Close $2.15 Million Financing; Uses Proceeds to Submit an Application to Make a Bid at the Auction of 30,000 Bitcoins by the U.S. Marshals Service

NaturalNano, Inc. (PINKSHEETS: NNAN) ( announced today that it has closed on a $2,150,000 cash financing from investors through the issuance of Secured Convertible Promissory Notes. 

The transaction closed on June 20, 2014. The funds were used in part by NaturalNano's wholly owned subsidiary, Bitcoin Bidder Inc, in connection with its application submission to participate in the auction by the U.S. Marshals Service (USMS) of 30,000 Bitcoins seized by the FBI. 

The USMS will inform Bitcoin Bidder of its eligibility to participate by June 26, 2014, and, if eligible, bids must be placed by June 27, 2014. If accepted, Bitcoin Bidder will use the balance of the proceeds of the financing to place its bid. 

The auction information can viewed at:

Jim Wemett, NNAN CEO, commented,

"The closing of this financing has placed NaturalNano in a unique position of potentially being able to participate in the U.S. Marshals Service auction of bitcoins. Bitcoins themselves are an exciting virtual currency technology and I believe NaturalNano shareholders will benefit from the company attempting to gain exposure to this technology."

NaturalNano, Inc.

NaturalNano, Inc. (PINKSHEETS: NNAN) located in Rochester, New York, is engaged in the development and commercialization of material additives based on proprietary nanomaterial technology utilizing Halloysite Nanotubes (HNTs). The Company provides the industry with additives designed to improve the processing characteristics and mechanical properties of engineering thermoplastics, and additives designed to optimize the release of active agents such as vitamins and fragrance in cosmetic products. NaturalNano holds patents relating to the commercial use of HNTs in composite materials as well as specialized techniques used in the refinement and processing of HNTs and intermediaries that it ships to customers worldwide. HNT materials used as a surface treatment have also shown promise in medical research devoted to stem cell collection and in trapping circulating cancer cells. The Company is also exploring surface treatments relating to improved adhesion of protective coatings for polymer components used in numerous commercial applications.

NaturalNano, Inc.

Cautionary Statement Regarding Forward-Looking Statements
Contains forward-looking statements regarding future events and future performance that involve risks and uncertainties that could materially affect actual results. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of NaturalNano's filings with the Securities and Exchange Commission. The most recent annual reports on Form 10-K and quarterly reports on Form 10-Q filed by NaturalNano provide information about these factors, which may be revised or supplemented in future reports filed with the SEC on those forms or on Form 8-K. We caution investors not to place undue reliance on forward-looking statements, and we do not undertake any obligation to update or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other such factors that affect the subject of these statements, except where expressly required by law.

Related News

USMS: A Single Bidder Claimed All Bitcoins in Last Week's Auction

Some new information is surfacing with regard to the highly-publicized bitcoin auction held by the United States Marshals Service (USMS) last week. That auction ran for twelve hours from 6am - 6pm. We're learning via a CoinDesk report that the USMS has announced that a single bidder has claimed all 29,656.51306529 bitcoins, which were made available in nine blocks of 3,000 coins, and one block of 2,656.51306529 bitcoins. The Service said the following in a Tuesday statement: The US Marshals Bitcoin auction resulted in one winning bidder. The transfer of the bitcoins to the winner was....

US Marshals: One Auction Bidder Claimed All 30,000 Silk Road Bitcoins

Venture capitalist Tim Draper has been revealed as the winner of last Friday's USMS bitcoin auction. The US Marshals Service (USMS) has announced that a single, undisclosed bidder claimed all of the roughly 30,000 bitcoins seized from online black market Silk Road and sold in its recent auction. The winning bidder outbid all other parties for the 10 auction blocks, according to the USMS. Further, the bitcoins have already been transferred to the winner, according to Blockchain. The USMS previously said that it would begin notifying bidders as to whether they had secured any of the blocks....

US Marshals Service Concludes the Final Bitcoin Auction

The much awaited bitcoin auction by the United States Marshals Service is finally over. The US Marshals Service, in possession of confiscated bitcoins from the Silk Road investigation auctioned the last of them earlier on Thursday. Thursday's auction had about 44,341 bitcoins worth $17.21 million out for bidding by those who had earlier registered with the US Marshals Service. According to reports, the online auction saw 11 bidders bidding 30 times over a span of six hours. Completion of the latest auction signifies liquidation of all the bitcoins seized from the wallets belonging to Silk....

Weekend Bitcoin Price Holds Steady after US Marshals Auction

More than 40 hours after the close of the US Marshals Bitcoin auction, the value of 1 BTC against the US dollar has held almost perfectly stable. At the start of Friday’s auction at 6:00 AM EDT, 1 BTC was worth US$590 according to our price tracker. As of 2:00 PM EDT, 1 BTC was worth US$596. Some feared that the auction of more than US$17 million worth of bitcoins would cause a panic sell and possibly send the value of the cryptocurrency tumbling. Instead, a slight uptick was the result. The auction Friday was held by the US Marshals Service, which held about 30,000 bitcoins as a result of....

The Third US Marshals Service Bitcoin Auction Has Come to a Close

Well, ladies and gentlemen, the moment has arrived. The third US Marshals Service Silk Road bitcoin auction has come and gone, and many are wondering what the outcome will be. Unfortunately for us, that news is not being released until tomorrow on Friday, so until then we'll have to keep our anticipation in check and make sure we don't start sweating bullets wondering about what has occurred. The auction began at 8 AM Eastern Standard Time, and ceased about six hours later at 2 PM, and tomorrow, someone will go home much richer with about 50,000 of alleged drug kingpin Ross Ulbricht's....