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
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.
For further information:
Andrew Bengis, Chief Financial Officer
(562) 926-6913 (Fax)