Nano One (TSXV: NNO) (FSE: LBMB) (OTC Pink: NNOMF) Receives $624,028 Installment from SDTC
Vancouver, British Columbia - August 16, 2017 (Newsfile Corp.) (Investorideas.com Newswire) Dan Blondal, CEO of Nano One Materials Corp. (TSXV: NNO) (FSE: LBMB) (OTC Pink: NNOMF), today announced that Nano One has received an installment of $624,028 from Sustainable Development Technology Canada (SDTC). This installment is a result of SDTC's acceptance of Nano One's deliverables for the first milestone of the pilot plant project and is an advance on the second milestone activities which are already in progress.
"This is the second of four installments from SDTC" said Mr. Blondal, "awarded to Nano One after delivering on its commitments to SDTC including pilot plant commissioning, production of first materials and reporting. The review process is thorough and this achievement further confirms our ability to execute and deliver on our plans."
The Government of Canada has provided approximately $1.8 million to date in non-dilutive and non-repayable support to Nano One's pilot project through SDTC and the Automotive Supplier's Innovation Program (ASIP). Nano One also receives support from the National Research Council of Canada Industrial Research Assistance Program on a related project.
Mr. Blondal added: "SDTC and ASIP are providing critical support for Nano One's lithium ion cathode materials piloting activities which are drawing attention from major industrial interests in the lithium ion battery space. We remain committed to developing sustainable energy storage technology in partnership with the Government of Canada."
Nano One Materials Corp.
Dan Blondal, CEO
For information with respect to Nano One or the contents of this news release, please contact John Lando (President) at (604) 669-2701 or visit the website at www.nanoone.ca
About Nano One:
Nano One Materials Corp ("Nano One" or "the Company") is developing patented technology for the low-cost production of high performance battery materials used in electric vehicles, energy storage and consumer electronics. The processing technology addresses fundamental supply chain constraints by enabling wider raw materials specifications for use in lithium ion batteries. The process can be configured for a range of different nanostructured materials and has the flexibility to shift with emerging and future battery market trends and a diverse range of other growth opportunities. The novel three-stage process uses equipment common to industry and Nano One is building a pilot plant to demonstrate high volume production. The pilot plant is being funded with the assistance and support of the Government of Canada through Sustainable Development Technology Canada (SDTC) and the Automotive Supplier Innovation Program (ASIP). Nano One also receives financial support from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). Nano One's mission is to establish its patented technology as a leading platform for the global production of a new generation of nanostructured composite materials. For more information, please visit www.nanoone.ca
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, the execution of the Company's plans which are contingent on the receipt of grant monies and the commercialization of the Company's technology and patents. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing', or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the ability of the Company to obtain additional financing; including the receipt of grant monies from SDTC, ASIP, NRC-IRAP and the receipt of all necessary regulatory approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
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