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California Nanotechnologies Increases Board Size and Appoints New Directors
CALIFORNIA NANOTECHNOLOGIES CORP. CNO-TSX VENTURE Cerritos, California. February 10, ...
About this update from California Nanotechnologies Corp.
[{"type":"text","content":"\nCalifornia Nanotechnologies Increases Board Size and Appoints New Directors\n\n\n \n\nCALIFORNIA NANOTECHNOLOGIES CORP.CNO-TSX VENTURE Cerritos, California. February 10, 2012 – California Nanotechnologies Corp. is pleased to announce Board approval of a motion to increase the number of Directors from four to five and the appointment of Mr. Chris Melnyk to the Board of Directors. The Board would also like to note the resignation of Mr. Timothy Wang as a Board member and the appointment Dr. Scott Liu to take his position on the Board. Dr. Liu is the inventor of the Hypercarbide Technology that forms the basis of SRL Nano Corp, a company partially owned by California Nanotechnologies. The Company would like to thank Mr. Wang for his long service to the Board and would like to wish both Dr. Liu and Mr. Melnyk success in their new endeavor. Effective February 10, 2012, the Company issued the following incentive stock options to officers and directors of the Company. Mr. Norm Goodrich, Mr. Don Kelly, Dr. Scott Liu and Mr. Timothy Wang were granted 50,000 stock options each. Mr. David Grant was granted 100,000 stock options. Mr. Chris Melnyk was granted 200,000 stock options. These incentive stock options granted are exercisable at $0.10 per common share for a term of five years and vest equally over three years and are subject to TSX Venture Exchange (\"TSX-V\") approval. California Nanotechnologies is engaged in the commercialization of several projects involving nanocrystalline materials for coatings and structural applications. Target markets are the aerospace, defense, automotive, medical, resource development, and sports and recreational industries. The Company’s immediate short-term objectives are to develop recurring revenue projects based on the nanostructured materials that the Company is pioneering. Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company’s actual results or outcomes to be materially different from those anticipated and discussed herein. For further information, please contact: Chris Melnyk, Vice President and Director(562) 991-5211 (phone)(562) 926-6913 (fax)[email protected] THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE I...