October 25, 2013 - VANCOUVER, Canada -NanoStruck Technologies Inc. (the "Company") (CNSX:NSK) (OTCQX: NSKTF) (Frankfurt: 8NSK) announces that I. Vellmer Inc., Chartered Accountant (the "Former Auditor") of the Company has resigned, at the request of the Company, as auditor of the Company, and the board of directors has appointed Collins Barrow Toronto LLP (the "Successor Auditor") of Toronto, Ontario as auditor for the Company.
There were no reservations in the Former Auditor's reports for the two most recently-completed fiscal years or for any period subsequent to the most recently-completed period for which an audit report was issued and preceding the date of the Former Auditor's resignation. There are no reportable events between the Company and the Former Auditor. The resignation of the Former Auditor as auditor of the Company has been approved by the Company's audit committee and its board of directors. The notice of change of auditor, together with the letter from the Former Auditor and the letter from the Successor Auditor, have been reviewed by the Company's audit committee and its board of directors and is posted at www.sedar.com.
About the Company
NanoStruck Technologies Inc. is a water remediation company with a suite of patented technologies and proprietary nano-biotechnology that provides environmentally safe solutions for water purification, restoration and contamination issues. The Company uses the EPA guidelines as a benchmark for what constitutes safe agricultural or drinkable water, and tailors these guidelines to those standards that are acceptable in the jurisdiction in which the technology is used. Additionally, the Company's technology can be used to recover heavy and precious metals from mine tailings.
The first water treatment facility began operating on January 14, 2012 in Mexico. It has been successfully removing leachate from water in a landfill and producing clean water certified by Conaqua, the federal water commission of Mexico.
In addition, the Company has a patent pending technology that recovers precious metals contained in tailings. At the end of the process, the water is remediated and can be reused.
The Company's current business model is based on entering into long term agreements (plant installation and operating agreements) with clients pursuant to which the Company funds the capital costs of building and installing its treatment plants. Pursuant to a plant installation and operating agreement, the client pays the Company a negotiated dollar value per cubic meter of treated water with a negotiated guaranteed minimum number of cubic meters to be treated per annum.
The Company also holds a 100% undivided interest in the Holy Cross Property, which consists of a single mineral exploration tenure covering 2,005 hectares within the Omineca Mining Division of north central British Columbia.
On behalf of the Board of Directors:
Raj Kurichh, Executive VP, Corporate Affairs
T: (905) 813-0900
E: [email protected]
W: www.nanostruck.com
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