CNO-TSX VENTURE
CERRITOS, CA, April 14, 2014 /CNW/ - California
Nanotechnologies Corp. ("Cal Nano" or the "Company") is
pleased to announce that revenues in the first quarter of the
fiscal year to date (March 1st to April
15) have increased to over $67,000 US ($74,000
CDN) from approximately $17,900 US ($18,400
CDN) in the prior period. In US dollar terms, this
represents an increase in revenues of approximately 274 percent
over the same period last year. "This increase is largely due to
increased sales in the oil and gas division," stated David F. Grant, Chairman of the Board. "The
developments in this important sector are being driven by the
enhanced properties available from an engineered nanomaterial
developed by one of our key customers. California Nanotechnologies
is helping to complete the early stage development of this program
utilizing the unique material processing and engineering
capabilities that it has in-house. Part of the funds raised in the
private placement, closed on April 9,
2014, are being utilized to expand these capabilities to
allow for the potential scaling up of this and other important
programs that could bring additional recurring revenues for the
company.
The Company is also pleased to note that
Christopher Melnyk from California
Nanotechnologies and representatives of Fuji-SPS, the pioneer of
SPS technology, recently met in Japan to finalize the growth strategy for
Spark Plasma Sintering sales and support in the North American
Region, for which California Nanotechnologies is the North American
Technical and Training Partner. During this visit, Christopher
visited multiple high-production facilities to determine the
feasibility of utilizing similar systems in future production
programs in California. The
company also explored the purchase of additional equipment as part
of the scale up of several critical projects now underway.
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.
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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.