CNO-TSX VENTURE
CERRITOS, CA, March 7, 2014 /CNW/ - California Nanotechnologies
Corp. ("Cal Nano" or the "Company") is pleased to announce that
unaudited revenue in the fourth quarter ended February 28, 2014 was approximately $174,000 US ($193,500
CDN). In US dollar terms, this represents an approximate
increase of 340% over revenues in the fourth quarter of the prior
year. Total unaudited revenue for the year was approximately
$371,000 US ($413,000 CDN). In US dollar terms, this
represents an approximate increase of 42% over fiscal 2013. These
results were primarily due to increases in the oil and gas and
sports and recreation divisions.
"The revenue in the last quarter was almost
equal to the revenue in the first three quarters of the fiscal
year," stated Christopher Melnyk,
CEO. "Interest in the Company's technologies is increasing across
all divisions with new and repeat customers such as GE Global
Research, the University of Pittsburg, the University
of California at Davis and the Pacific Northwest National
Laboratory ("PNNL") recently contracting Cal Nano to undertake various projects including
approximately 80 spark plasma sintering ("SPS") experiments." PNNL
is a US Department of Energy sponsored laboratory.
The Company is also pleased to announce that it
has completed the second shipment for one of it's largest
production orders to date, with a shipment to adidas in late
February of approximately $63,000 US
($70,150 CDN).
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.