Nano One Reports on Recent Financial Events
July 20 2020 - 2:23PM
(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, CEO
For 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 One
Nano 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.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. 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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