VANCOUVER, British Columbia, July 20, 2020 (GLOBE NEWSWIRE) — (TSX-V: NNO) (OTC-Nasdaq Intl Designation: NNOMF) (Frankfurt: LBMB). Nano One Materials (“Nano One” or the “Company”) is pleased to provide an update on recent financial events:
Nano One has received the final payment of $217,446, of $1,950,922 total, in respect to the successfully completed Demonstration Pilot Plant project with the Automotive Suppliers Innovation Program (ASIP). The ASIP program is administered by the Strategic Innovation Fund of Innovation Science and Economic Development (ISED) Canada. Nano One’s project began in June 2016 and involved the research and development of four different cathode materials for lithium ion batteries for use in automotive applications.Nano One also received the final payment of $46,618, of $241,224 total, in respect to the Innovation Assistance Program administered by the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). This program is a COVID-19 wage subsidy program from the Government of Canada for the 12-week period from April 1 to June 24, 2020.Nano One is also encouraged by the support of its shareholders for the recent exercises of share purchase warrants for total proceeds of $288,000. A total of 180,000 share purchase warrants were exercised between July 9 and July 17, 2020 including finders’, incentive, and regular warrants in aggregate, at a weighted average exercise price of $1.60 per share.As a Reporting Issuer, Nano One would also like to report that it has granted 1,140,000 incentive stock options with an exercise price of $2.52 to directors and officers of the company.Nano One Materials Corp.Dan Blondal, CEOFor information with respect to Nano One or the contents of this news release, please contact John Lando (President) at (604) 420-2041 or visit the website at www.nanoone.ca.
About Nano OneNano One Materials Corp has developed patented technology for the low-cost production of high-performance lithium ion battery cathode materials used in electric vehicles, energy storage and consumer electronics. The processing technology enables lower cost feedstocks, simplifies production and advances performance for a wide range of cathode materials. Nano One has built a demonstration pilot plant and is partnered with global leaders in the lithium ion battery supply chain to advance its lithium iron phosphate (LFP), lithium nickel manganese cobalt oxide (NMC) and lithium nickel manganese oxide (LNM) cathode technologies for large growth opportunities in e-mobility and renewable energy storage applications.Nano One’s pilot and partnership activities are being funded with the assistance and support of the Government of Canada through Sustainable Development Technology Canada (SDTC), the Automotive Supplier Innovation Program (ASIP) a program of Innovation, Science and Economic Development Canada (ISED), and the Province of British Columbia through the Ministry of Energy, Mines and Petroleum Resources. Nano One is also supported through advisory services and research and development project funding 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 battery materials. www.nanoone.caCertain 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. 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 projections for the global demand for LFP. 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.NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
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