California Nanotechnologies Corp. ("Cal Nano" or the "Company") (TSX-V:CNO)(OTCQB:CANOF) is pleased to announce that it has received an additional contract worth approximately $202,000 US from the large chip fabrication customer referred to in earlier press releases. This new contract is for Phase 2 of the program, within which Cal Nano will incorporate additional design elements and features into the working prototypes delivered in September 2017.  Of particular importance, this contract also includes the development of a high volume processing methodology that could be utilized for future production. "Phase 2 is expected to be completed in approximately six months and if successful, the next phase in the program could be the production of these components in higher volumes," stated Eric Eyerman, COO.

The Company would also like to note that it completed the installation and testing of the large Fuji Mark V SPS system in September. This system is critical for Phase 2 of the chip fabrication program mentioned above.  It is also being utilized in the development of components for the US Department of Energy and other large customers.

In addition to the large SPS programs underway, Cal Nano is pleased to note that it has received several new orders from customers that include Boeing and Adidas. Cal Nano is also scheduled to install new SPS systems at both Iowa State and Louisiana State Universities within the next two months. "Given the growing diversification of the Company's customer base, the depth of product offerings, and the addition of the large SPS for production requirements, Cal Nano is demonstrating long term sustainable growth," stated David Grant, Interim CEO.

Continuing the Company’s extensive engagement in the materials science community, Cal Nano exhibited at the MS&T 2017 Conference (Materials Science & Technology) in Pittsburgh, PA from October 8th to October 12th, 2017. “The Company showcased the availability of its large SPS production system and continues to attract interest in high volume SPS programs.” stated SPS Division Manager Brian Weinstein.

For further information, please contact: Mr. David Grant, Interim CEOTel. No.  (562) 404-8510 or (800) 577-6664Cell No.  (714) 757-8863Email: d.grant@omni-lite.comWebsite:  www.calnanocorp.com 

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" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to the expected future performance of the Company. 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: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. 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.

 

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