Nano One Provides Quarterly Progress Update and Reports Q3 2022 Results

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[{"type":"text","content":"Nano One Provides Quarterly Progress Update and Reports Q3 2022 ResultsVANCOUVER, BC / ACCESSWIRE / November 11, 2022 / (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB).Nano One® Materials Corp. (\"Nano One\" or the \"Company\") is a clean technology company with patented processes for the low-cost, low-environmental footprint production of high-performance cathode materials used in lithium-ion batteries. Nano One has filed its unaudited condensed interim consolidated financial statements (the \"financial statements\") and management's discussion & analysis for the third fiscal quarter ended September 30, 2022 (\"Q3 2022\") and is pleased to provide the following highlights from Q3 2022.Q3 2022 Highlights and HeadlinesWorking capital of ~$45.8 million; cash of ~$45.9 millionCompletion of Annual General Meeting of ShareholdersGovernment funding of ~$1.8 million receivedGrant of two additional patentsCorporate Milestones for Q3 2022Validation of Manganese Metal in M2CAM® ProcessIn September 2022, the Company and Euro Manganese Inc. (\"Euro Manganese\") announced joint demonstration of cathode materials made directly from Euro Manganese sourced electrolytic manganese metal using Nano One's One-Pot process. Nano One's patented One-Pot process enables cathode materials to be made directly from metals (\"M2CAM\") and lithium carbonate, for reduced complexity, cost, and environmental footprint.Results align with automotive battery demands in Europe and North America for sustainably sourced critical minerals and environmentally superior and differentiated supply chains. The two companies are jointly developing economically viable and environmentally sustainable applications of high-purity electrolytic manganese metal (\"HPEMM\") as one of several inputs for the production of cathode active materials used in lithium-ion batteries.SDTC and BC-ICE Funding of $1.8M and Grant of 2 PatentsIn August 2022, the Company announced the granting of two (2) additional patents in Japan and the receipt of approximately $1,800,000 in non-dilutive, non-repayable contributions from Sustainable Development Technology Canada (\"SDTC\") and BC-ICE toward Milestone 4 (the final milestone) of the Scaling Advanced Battery Materials project.Q3 2022 Financial Position and ResultsTotal assets of ~$59,100,000 (Q2 2022 - ~$60,700,000)Total liabilities of ~$1...

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