Business
California Nanotechnologies Purchases an Additional 500,000 SRL Nano Corp Shares with Option to Purchase Additional Shares
CALIFORNIA NANOTECHNOLOGIES CORP. CNO-TSX VENTURE CERRITOS, CA, Dec. 20, 2011 /CNW/ - ...
About this update from California Nanotechnologies Corp.
[{"type":"text","content":"\n\n\n\n\n\nCALIFORNIA NANOTECHNOLOGIES CORP.\nCNO-TSX VENTURE\n\n\nCERRITOS, CA, Dec. 20, 2011 /CNW/ - California Nanotechnologies Inc\n (\"Cal Nano\") is pleased to announce that it has purchased an additional\n 500,000 shares of SRL Nano Corporation (\"SRL Nano\") for $50,000 US.  As\n part of the transaction, Cal Nano has an option to purchase an\n additional 500,000 shares of SRL Nano for $50,000 prior to Nov 8, 2012.\n\n\nThis capital investment, together with funds from another long term\n investor, will allow SRL Nano to continue the commercialization of\n their patented Hypercarbide cutting tools. Hypercarbide exhibits\n superior performance over other cutting tools on the market, including\n those manufactured from Cubic Boron Nitride (CBN), which are the\n current state of the art in the cutting tool industry, where sales in\n the US exceed one billion dollars annually. Initial tests conducted by\n various third parties have indicated that these tools can cut hardened\n tool steels at least 6 to 10 times more efficiently than CBN cutting\n tools, dramatically increasing productivity for a variety of\n manufacturing applications. SRL Nano began the delivery of the first\n commercial products to customers in early November 2011.\n\n\nExcept for historical information contained herein this document\n contains forward-looking statements. These statements contain known and\n unknown risks 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\nTHE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE\n INFORMATION CONTAINED HEREIN.\n\n\n Chris Melnyk, VP Product Development (562) 991-5211 x100 (562) 926-6913 (fax)[email protected] www.calnanocorp.com \n","length":2072,"tagName":"div"}]