CNO-TSX VENTURE
CERRITOS, CA, Feb. 19, 2014 /CNW/ - California Nanotechnologies
Corp. ("Cal Nano" or the
"Company") is pleased to announce that revenues in the 4th
quarter to date have increased approximately 388% over the same
period in the prior fiscal year. This increase is largely due to
increased sales in the oil and gas and sports and recreational
divisions.
The Company is also pleased to announce that it
is presenting and exhibiting at the TMS conference in San Diego in the week of February 17, 2014. This international conference
will be attended by many of Cal
Nano's major customers. At the conference Cal Nano's CEO, Christopher Melnyk, presented an invited paper
entitled, "Improved Mechanical Properties of Cermet Coatings as a
Function of Grain Size."
Cal Nano would
also like to report that it has a loan from a major shareholder
(holding an approximate 19% equity interest in Cal Nano) for equipment purchases and general
operating expenses. This loan has a ceiling of $1,200,000 US and is secured by all the assets of
the Company. Additional security for the loan has been provided by
one of the founders and a current member of the Board of Directors
of the Company. The interest rate on the loan is 2% annually and
principal and interest are expected to be repaid from cash on
hand.
Except for historical information contained
herein this document contains forward-looking statements. These
statements contain known and unknown risk and uncertainties that
may cause the company's actual results or outcomes to be materially
different from those anticipated and discussed herein.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE California Nanotechnologies Corp.