California Nanotechnologies Announces Revenue for Fiscal 2021

• Company announces $794K revenue for Fiscal 2021
• Cal Nano delivers initial wafers to thermoelectric customer

LOS ANGELES, CA / ACCESSWIRE / June 29, 2021 / California Nanotechnologies Corp. (TSXV:CNO)(OTCH PINK:CANOF) (‘Cal Nano’ or the ‘Company’) is pleased to announce revenues of US$794,571 for the year, ending February 28, 2021 (“F2021”). Cash flow provided by operations was US$24,885. EPS were nil in F2021 the same as in F2020. Full financial statements are available at sedar.com.

Most revenue for fiscal 2021 was associated with customers continuing to utilize the Company’s Spark Plasma Sintering and Cryogenic Milling toll services for small- and large-scale R&D programs. The Company continued to generate cash along with reducing third party indebtedness during the year. “Despite the difficult year for many companies due to the pandemic across the world, Cal Nano has performed exceptionally well under these toughest of situations. We were able to maintain steady revenue in comparison to last fiscal year and at this time, we are seeing an increase in customer interested in new material development and R&D for both SPS and cryomilling as we move forward in F2022.” stated CEO Eric Eyerman.

Cal Nano is pleased to announce that it has and delivered over 50 wafers of advanced thermoelectric material to its customer produced using its spark plasma sintering technology. The wafers are currently going through customer analysis and post-processing. “The delivery of these wafers is a key step in our march toward moving beyond the R&D phase of this program.” stated CEO Eric Eyerman

For further information, please contact:

Eric Eyerman, CEO
T: (562)-991-5211
E: info@calnanocorp.com 
W: www.calnanocorp.com

Reader Advisory 

Except for statements of historical fact, this news release contains certain ‘forward-looking information’ within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’ and other similar words, or statements that certain events or conditions ‘may’ or ‘will’ occur. In particular, forward-looking information in this press release includes, but is not limited to the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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

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