California Nanotechnologies Acquires Major New Customer in the Oil and Gas Service Industry

About this update from California Nanotechnologies Corp.

[{"type":"text","content":"\n\n\nCNO-TSX VENTURE\n\n\nCERRITOS, CA, Dec. 20, 2013 /CNW/ - California Nanotechnologies (\"Cal\n Nano\") is pleased to announce that revenues for the third quarter of\n 2013 increased 253% over the same period in 2012. \"While this increase\n in revenue from $22,434 US ($23,780 CDN) in the third quarter of 2012\n to $79,174 US ($83,862 CDN) in the third quarter of 2013 was primarily\n due to continuing long-term research and development programs at Cal\n Nano, the transition from development efforts to ongoing revenues is a\n critical milestone that the company has been focused on for many\n years,\" stated Christopher Melnyk, CEO. \"In this regard, the company\n has made significant progress with a new customer in the oil and gas\n service business, receiving approximately $49,343 ($52,256 CDN) worth\n of purchase orders in the last three months, including $28,611 US\n ($30,300 CDN) on December 18, 2013. This project could lead to an\n important technological advance in the oil and gas industry and is\n slated to continue for the next several months. The company is prepared\n to add new production resources to meet this customer's growing\n requirements\".\n\n\nThe company is also pleased to announce that it has delivered the\n initial nano composite components to adidas as mentioned in a press\n release of November 7, 2013.  The company is focused on completing this\n $89,850 US ($95,155 CDN) order in January 2014.\n\n\nExcept for historical information contained herein this document\n contains forward-looking statements. These statements contain known and\n unknown risk and uncertainties that may cause the company's actual\n results or outcomes to be materially different from those anticipated\n and discussed herein.\n\n\nNEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS\n THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS\n RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\n\n\nSOURCE California Nanotechnologies Corp.\n\n\n\n Andrew Bengis, Chief Financial Officer (562) 991-5335 (562) 926-6913 (Fax)  [email protected]  www.calnanocorp.com  Copyright CNW Group 2013","length":3177,"tagName":"div"}]

More updates from California Nanotechnologies Corp.