CNO – TSX VENTURE
CERRITOS, CA, Aug. 12, 2015 /CNW/ - California Nanotechnologies
Corp. ("Cal Nano" or the "Company") is pleased to note that it has
received new contracts worth approximately $254,000 US. Of these orders, 84% are in
the Sports and Recreational Division, 10% are in the Spark Plasma
Sintering ("SPS") division and 6% are in the Research and
Development division. This brings the number of new orders
announced since May 13, 2015 to
approximately $513,000 US. In
Canadian dollar terms, at today's conversion rate, this equates to
over $673,000 CAD. Of these
total combined orders, 54% are in the Sports and Recreation
division, 22% are in the SPS division, 22% are in the Research and
Development, and 2% are in the Oil and Gas division.
Of particular significance the Company has received an
additional order from a large Aerospace manufacturer. This brings
the total value of the contracts underway for this customer to
approximately $85,000 US, which
further demonstrates the value of the Company's established
position as a prime contractor for cutting edge aerospace research.
Central to the growth plans of the Company is the ability to
offer both prototype and small scale production nano-material
research, utilizing the range of material processing capabilities
now available at Cal Nano.
Further adding to the diversified revenues of the Company, the
SPS division is pleased to note that McMaster
University in Hamilton,
Canada, has recently placed an
order for a Spark Plasma Sintering furnace which will be installed
by Cal Nano this fall. As previously noted, the SPS division
is becoming a cornerstone in the Company's recurring revenue
picture.
"Cal Nano is also pleased to note that the Company currently has
approximately $400,000 US in open
orders in our backlog," stated Christopher
Melnyk, CEO. "The continuing growth in three major
divisions is rapidly moving the Company toward long term
sustainability."
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.