CNO-TSX VENTURE
CERRITOS, CA,
Dec. 20, 2013 /CNW/ - California
Nanotechnologies ("Cal Nano") is pleased to announce that revenues
for the third quarter of 2013 increased 253% over the same period
in 2012. "While this increase in revenue from $22,434 US ($23,780
CDN) in the third quarter of 2012 to $79,174 US ($83,862
CDN) in the third quarter of 2013 was primarily due to
continuing long-term research and development programs at Cal Nano,
the transition from development efforts to ongoing revenues is a
critical milestone that the company has been focused on for many
years," stated Christopher Melnyk,
CEO. "In this regard, the company has made significant progress
with a new customer in the oil and gas service business, receiving
approximately $49,343 ($52,256 CDN) worth of purchase orders in the last
three months, including $28,611 US
($30,300 CDN) on December 18, 2013. This project could lead to an
important technological advance in the oil and gas industry and is
slated to continue for the next several months. The company is
prepared to add new production resources to meet this customer's
growing requirements".
The company is also pleased to announce that it
has delivered the initial nano composite components to adidas as
mentioned in a press release of November 7,
2013. The company is focused on completing this
$89,850 US ($95,155 CDN) order in January 2014.
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.