California Nanotechnologies Reports Record Fourth Quarter and Year End Financial Results

California Nanotechnologies Corp. ("Cal Nano" or the "Company") is pleased to
report record financial results for the 4th quarter and year ended February 28,
2014. For fiscal 2014, revenues increased 43% to $373,481US ($415,804CAD)
compared to $261,302US ($268,025CAD) in 2013. Gross margin for the year was 87%
which was unchanged from fiscal 2013. This improvement in revenues was due
primarily to increases in the oil and gas and sports and recreational divisions.
In the fourth quarter, Cal Nano achieved record quarterly results with revenues
of $175,172US ($195,023CAD), an increase of 338% over the same quarter last
year. The main sources of revenue during fiscal 2014 were from cryogenic
milling, research projects, engineering services and the sale of commercial
parts made from advanced nano-engineered materials.


The Company's cash flow provided by (used for) operations (1) for the year was
($198,383US) compared with ($327,631US) during the prior year. Cash flow from
operations (1) in the fourth quarter of fiscal 2014 neared break-even at
($6,310US).


Cal Nano's net loss for the year was $302,365US ($336,629CAD) or $0.01 per
share, compared to a loss of $531,811US ($545,494CAD) or $0.02 per share in the
prior year. Amortization and depreciation expense and salaries, wages and
benefits, research, and supplies were the greatest expense items. Overall
operating expenses of $619,161US were lower by 12% when compared to the prior
year.




                                                                            
                                                                            
                  SUMMARY OF FINANCIAL HIGHLIGHTS (US $)                    
                  All figures in US dollars unless noted.                   
--------------------------------------------------------------------------- 
                                                                            
Basic Weighted Average Shares     For the year   For the year        %      
Issued And Outstanding :             ended          ended        Increase   
25,820,000                        February 28,   February 28,   (Decrease)  
                                      2014           2013                   
-------------------------------- -------------  -------------  ------------ 
Revenue                          $     373,481  $     261,302            43%
Cash flow provided by (used for)                                            
operations (1)                        (198,383)      (327,631)          n/a 
Net Loss                              (302,365)      (531,811)          n/a 
EPS (US)                                 (0.01)         (0.02)          n/a 
EPS (CAD)                                (0.01)         (0.02)          n/a 



(Note: at 02/28/14, $1US = $1.1133 CAD; 02/28/13, $1US = $1.0257 CAD)



1.  Cash flow used for operations is a non-GAAP term requested by the oil
    and gas investment community that represents net earnings adjusted for
    non-cash items including depreciation, depletion and amortization,
    deferred taxes, asset write-downs and gains (losses) on sale of assets,
    if any.



The Company's immediate short-term objectives will be to install larger scale
production systems to meet the growing demand for the nano-engineered materials
currently produced by Cal Nano. The Company has recently purchased a larger
high-energy attritor to be adapted and modified for advanced cryogenic
processing, increasing the Company's cryomilling capacity by a factor of six.
The company is continuing to develop new technology and is sourcing new
opportunities through collaborations and partnerships with select universities
and tier one production suppliers.


Subsequent to year end, Cal Nano completed a private placement raising gross
proceeds of $714,190 CAD. As a result of this transaction, Cal Nano currently
has 31,230,296 shares issued and outstanding.


"Management is very pleased with financial results achieved in fiscal 2014 and
those obtained in Q1/15. Revenues in Q1 were approximately $159,575US
($172,959CAD) and the movement toward cash flow break-even strengthens the
company's financial position while allowing management to focus on moving Cal
Nano's products toward commercialization. With increasing revenues, high
margins, and several research and development projects scheduled for completion
in the near future, management remains optimistic as the Company transitions
into the commercial marketplace," stated Christopher Melnyk, CEO.


Reader Advisory 
Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate", "budget",
"scheduled", "estimates", "forecast" and other similar words or variations
thereof, or statements that certain events or conditions "may", "could",
"would", "might" or "will" occur. In particular, forward-looking information in
this press release includes, but is not limited to, statements with respect to
the expected use of proceeds. Although we believe that the expectations
reflected in the forward-looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. We cannot guarantee
future results, performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same, in whole or in
part, as those set out in the forward-looking information.


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: additional funding required by the Company on an ongoing
basis; market competition against third parties with greater financial and human
resources; the protection of the Company's intellectual property rights; costs
of production; capital expenditures; requirements for additional capital;
failure of equipment or processes to operate as anticipated; delays in obtaining
regulatory approvals, claims limitations on insurance coverage; risks associated
with international operations; risks related to material customer agreements;
fluctuations in the currency markets; and changes in national and local
government legislation, controls, regulations and political or economic
developments in Canada, the United States or other countries in which the
Company may carry on business in the future. Readers are cautioned that this
list of risk factors should not be construed as exhaustive.


The forward-looking information contained in this news release is expressly
qualified by this cautionary statement. We undertake no duty to update any of
the forward-looking information to conform such information to actual results or
to changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on
forward-looking information.


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.



FOR FURTHER INFORMATION PLEASE CONTACT: 

For further information, please contact:

Andrew Bengis
Chief Financial Officer
T: (562) 991-5211
F: (562) 926-6913
E: investorinfo@calnanocorp.com
W: www.calnanocorp.com
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