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California Nanotechnologies Announces Positive Q3/FY2020 Results

January 30, 2020 GMT
Company announces $235K revenue for Q3Record nine month revenue of $656KCal Nano exhibiting at TMS ConferenceLOS ANGELES, CA / ACCESSWIRE / January 30, 2020 / California Nanotechnologies Corp. (TSX.V:CNO)(OTC PINK:CANOF) ("Cal Nano" or the "Company") ...
Company announces $235K revenue for Q3Record nine month revenue of $656KCal Nano exhibiting at TMS ConferenceLOS ANGELES, CA / ACCESSWIRE / January 30, 2020 / California Nanotechnologies Corp. (TSX.V:CNO)(OTC PINK:CANOF) ("Cal Nano" or the "Company") ...

LOS ANGELES, CA / ACCESSWIRE / January 30, 2020 / California Nanotechnologies Corp. (TSX.V:CNO)(OTC PINK:CANOF) (“Cal Nano” or the “Company”) is pleased to announce that revenue for the quarter ending November, 30, 2019 was $235,899. This represents the 2nd largest quarterly revenue in the Company’s history. EBITDA for the quarter was $59,226 and net income was $10,994. The full financial statements available at sedar.com.

The Company has achieved nine month revenue of $656,657 which is an increase 10.3% or $68,020 from the same period last year, of $588,637. “This increase is attributed to the expansion of our SPS and cryomilling programs with our large aerospace manufacturing customer along with the addition of new customers and commission associated with SPS system installations” stated Eric Eyerman, CEO.

As the leader in Spark Plasma Sintering technology, Cal Nano, in collaboration with the Idaho National Lab, will be presenting the latest innovation in High Entropy Alloy materials for nuclear applications during the Minerals, Metals and Materials Society (TMS) in San Diego from February 23rd to 27th 2020. The Company will also be exhibiting at the conference. “With over 4,000 attendees and many speakers presenting on Spark Plasma Sintering, TMS is the perfect opportunity for Cal Nano to showcase its latest innovations on SPS and present to various leading large OEM customers our capabilities in supporting the OEM drive for improved material strength and performance” stated Eric Eyerman, CEO.

In another collaboration with Idaho National Lab, an article was recently published on the novel sintering of graphite material. This article titled, ” Densification of Graphite under High Pressure and Moderate Temperature ” is co-authored by Eric Eyerman and shows that graphite can be sintered at lower temperatures than previous thought possible. The technical and potential economic benefits shown by this effort can lead to lowering the cost of producing graphite components to meet current and future technical challenges.

For further information, please contact:

Eric Eyerman, CEO

T: (562)-991-5211

E:

W: 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.

SOURCE: California Nanotechnologies Corp.

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