California Nanotechnologies Appoints New Officers and Issues Stock Options

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12/03/2013 [ACCESSWIRE]




CERRITOS, CALIFORNIA, //Accesswire// December 3, 2013 - California Nanotechnologies Corp. is pleased to announce the appointment of Mr. Christopher Melnyk as CEO of the Corporation.  Mr. Melnyk has been Vice President for the last 3 years and as such has been instrumental in driving the Company forward.  Mr. Andy Bengis will be taking on the role of Interim CFO.  Mr. Bengis has undertaken most of the accounting functions of California Nanotechnologies for several years and as a result is well prepared to undertake this new role.  Both of these appointments are effective December 1, 2013.

The Company would like to thank Mr. Timothy Wang for his contribution as CFO over the last 6 years.  Mr. David Grant will remain as the Chairman of the Board of Directors while relinquishing his daily function as CEO.

To encourage the further development of the Company, incentive stock options have been granted to the following officers and directors.  The options were granted according to the table below: 


Name               Position     Options Granted

David F. Grant Director 300,000 Christopher Melnyk CEO 300,000 Andrew Bengis Interim CFO 100,000 Donald Kelly Director 50,000 Norman Goodrich Director 50,000


These options were granted on Dec 3, 2013 and are priced at $0.05 which is the Minimum Price as defined by the TSX Venture Corporate Manual.  The options were granted pursuant to the Company’s Stock Option Plan, which received shareholder approval at the Annual General and Special Meeting held on October 18, 2013.  These stock options vest equally over a three year period, expire after a five years, and are subject to TSX Venture Exchange requirements.

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:

Christopher Melnyk, CEO
(562) 991-5335
(562) 926-6913 (fax) 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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