HIGHLIGHTS:
- $5.20 million average annual revenue
of the target business for 2011 – 2013
- Intellectual Property strengthened –
co-ownership of 8 additional patents
- Consolidated revenue potential for
NanoStruck; plan for further growth
- Clean Technology in the Mining,
Water Treatment and Energy Industries
NanoStruck Technologies Inc. (the “Company” or “NanoStruck”)
(CSE:NSK) (OTCQX:NSKTF) (Frankfurt:8NSK) announces the signing of a
binding agreement to acquire a technology business in order to
strengthen the Company’s technology and operations and for the
combined companies to further grow revenue and profit.
Upon completion of accretive acquisition, the Company will be
able to consolidate financial results of the two companies. The
target business has had annual revenue of between $4.23 million and
$7.03 million with a pretax profit between $0.46 million and $1.21
million for the years 2011-2013.
The target business is focused on providing clean technology
solutions in the mining, water treatment, clean energy and
specialty chemicals industries. It has facilities for beta testing
and running pilot plants using physical, chemical and thermal
processing. NanoStruck will look at introducing and applying its
nanotechnology into the various above processes, as applicable.
Bundeep Singh Rangar, Chairman of the Board said: “This
acquisition is transformative for both parties. It helps realize
our strategic goals of growing revenue, increasing technology
prowess and expanding in new markets. Our combined teams and
technologies will result in formidable water treatment, mine
tailings and minerals processing technologies being offered in key
target markets.”
With the acquisition, the Company will be able to accelerate the
commercialisation of its technology for recovery of precious metals
from mining ores and tailings. The target business has a suite of
Intellectual Property, in both its patents and knowhow, that is
used to develop proprietary technologies. The combined companies
can further unlock the potential value of these technologies.
NanoStruck intends to tap into its suite of mining industry
shareholders to generate new business for the combined
companies.
NanoStruck’s shareholders include Gordon McKinnon, a director of
a number of mining exploration, development and mineral royalty
companies including Canadian Orebodies Inc., Mineral Streams Inc.
and PhosCan Chemical Corp.; Clinton Barr, a leading geologist, who
worked for mining and metallurgy companies Noranda Inc. and Inco
Ltd. as a project geologist; Richard Buzbuzian, a mining and
capital markets executive formerly at New Dawn Mining Corp.
(ND.TSX), a Zimbabwe focused gold producer; and Garry Clark,
Executive Director of the Ontario Prospectors
Association, that nurtures the province’s mineral
exploration industry. He also sits on the Minister of Mines Mining
Act Advisory Committee, the Ontario Geological Survey Advisory
Board and is a director of several small listed exploration
companies.
This acquisition will further strengthen NanoStruck’s suite of
Intellectual Property, global operations as well as mineral ores
and mine tailings processing capabilities. It will result in the
Company co-owning eight patents that have already been granted with
further development of IP to be jointly pursued.
The parties have signed a binding agreement subject to the
signing of a definitive purchase and sale agreement upon completion
of final due diligence and regulatory approval. While there is no
certainty of concluding a definitive agreement, both parties are
pursuing its completion on a best efforts basis. The target
company’s current Chief Executive Officer will remain CEO of the
acquired company as part of a retention package to ensure
continuity of the business. All financial figures used above are
unaudited figures provided by the target business. The counter
party cannot be named at this stage for confidentiality
reasons.
About the Company
NanoStruck Technologies Inc. is a Canadian Company with a suite
of technologies that remove molecular sized particles using
patented absorptive organic polymers. These versatile biomaterials
are derived from crustacean shells or plant fibers, depending on
requirements of their usage. Acting as molecular sponges, the
nanometer-sized polymers are custom programmed to absorb specific
particles for remediation or retrieval purposes. These could be
used to clean out acids, hydrocarbons, pathogens, oils and toxins
in water via its NanoPure solutions. Or to recover precious metal
particles in mine tailings, such as gold, silver, platinum,
palladium and rhodium using the Company’s NanoMet solutions.
By using patented modifications to conventional technologies and
adding polymer-based nano-filtration, the Company’s offers
environmentally safe NanoPure solutions for water purification. The
Company uses Environmental Protection Agency (EPA) and World Health
Organization (WHO) guidelines as a benchmark for water quality and
safety to conform to acceptable agricultural or drinking water
standards in jurisdictions where the technology is used.
Additionally, the Company’s technology can be used to recover
precious and base metals from mine tailings, which are the residual
material from earlier mining activities. By retrieving valuable
metals from old tailing dumps, the Company’s NanoMet solutions
boosts the value of existing mining assets and reduces the need for
new, costly and potentially environmentally harmful exploration and
mining.
The Company’s current business model is based on either selling
water remediation plants or leasing out units and charging
customers on a price per liter basis with a negotiated minimum
payment per annum. For processing mine tailings, the value of
precious metal recovered is shared with tailing
site owners on a pre-agreed basis.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY
SERVICE PROVIDER HAS REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.
This press release contains forward-looking statements. The use
of any of the words "anticipate", "continue", "estimate", "expect",
"may", "will", "project", "should", "believe" and similar
expressions are intended to identify forward-looking statements.
Statements relating to "reserves" or "resources" are deemed to be
forward-looking statements because they involve the implied
assessment, based on certain estimates and assumptions that the
resources and reserves described can be profitably produced in the
future.
Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks including various risk factors
discussed in the Company’s Management’s Discussion and Analysis for
the three and six months ended March 31, 2014, filed on May 29,
2014, and for the year ended September 30, 2013, filed on January
28, 2014, under the Company’s profile on www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING
INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY
OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE
TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
NanoStruck Technologies Inc.Nelson Hudes, +1-905-660-9155Public
RelationsNelson.Hudes@NanoStruck.comorRaj Kurichh,
+1-905-813-0900Chief Marketing
OfficerRaj.Kurichh@NanoStruck.comwww.NanoStruck.com
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