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.
For further information: Christopher Melnyk, CEO, T: (562) 991-5211, F: (562) 926-6913, E: [email protected], W: www.calnanocorp.com