November 6, 2013 - VANCOUVER, Canada - NanoStruck Technologies Inc. (the "Company") (CNSX: NSK) (OTCQX: NSKTF) (Frankfurt: 8NSK) is pleased to announce the restructuring of its executive management team to support its business growth plans. The restructuring will not result in additional personnel or expenses for the Company.
Former Chief Financial Officer, Alfredo Albi has taken on the new role of Chief Operating Officer (COO) to better utilize his operational experience. Mr. Albi has more than 25 years experience in operations and finance with several multinational companies. Mr. Albi will be responsible for supply chain management and delivery. Prior to joining NanoStruck, Mr. Albi served as a CFO for Meditech International Inc., a world leader in the field of laser medicine and as the Vice President for CiRBA Inc., a privately owned software technology company. He is a member of the Certified General Accountants Association of Ontario.
Rajeev Agarwal has been appointed Chief Financial Officer (CFO) of the Company. Mr. Agarwal has more than 20 years of professional and managerial experience in his field. He will lead the Company's finance, treasury, legal, human resources and will be responsible for all strategic financing activities, reporting, internal controls etc. Prior to joining NanoStruck, Mr. Agarwal was a CFO at Eastnets, a global provider of compliance and payment solutions and a CFO for OceanLake Commerce Inc. that was then listed on Canada's TSX Venture Exchange. He is a member of the Certified General Accountants Association of Ontario and holds a CPA from Delaware (USA). In addition, he is qualified as a Chartered Accountant in India.
Raj Kurichh has assumed the role of Chief Marketing Officer (CMO) of the Company. Mr. Kurichh is a long-standing entrepreneur who brings more than 15 years combined experience in marketing, business development, investor relations, sales and management. In his expanded role, Mr. Kurichh will be responsible for investor relations, marketing activities and social media. Prior to joining NanoStruck, he was the founder of Power Factor 30 Canada; a company that helps consumers manage their energy consumption. In addition, he was an advisor for new franchisees across Eastern Canada at DirectBuy Inc., the largest franchiser of members-only consumer buying centers in North America.
"We have put together a highly-talented executive team that is focused in executing the opportunities at hand, growing revenue, developing innovative solutions and building shareholder value," said Bundeep Singh Rangar, Chairman of the Board. "The team's complementary skill sets and alignment of interests are a winning formula."
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 Conagua, 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:
Bundeep Singh Rangar, Chairman
T: (905) 813-0900
E: [email protected]
W: www.nanostruck.com
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FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Statements relating to "reserves" or "resources" are deemed to be forward-looking statements because they involve the implied assessment, based on certain estimates and assumptions that the resources and reserves described can be profitably produced in the future.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's Management's Discussion and Analysis for the nine months ended June 30, 2013 and filed on August 29, 2013 and for the year ended September 30, 2012 and filed on January 23, 2013 under the Company's profile on www.sedar.com.
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