VANCOUVER, Canada / ACCESSWIRE / April 14, 2014 -- NanoStruck Technologies Inc. (the "Company" or "NanoStruck") (CSE: NSK) (OTCQX: NSKTF) (Frankfurt: 8NSK) announces the appointment of Steve McCann as a new Board Member of NanoStruck Technologies Inc.
Steve McCann, a seasoned finance professional, brings to the Company more than 30 years experience in finance, acquisitions and international business. In addition, he is well versed with London Stock Exchange's regulatory and operational requirements.
In 2006, Mr. McCann was appointed CFO of Cubus Lux plc, a British public company with operations in Croatia. Previously he worked for Milliken & Co., the US textile and chemicals company based in Viersen, Germany where he controlled finances of the entire Achter Group with responsibilities for subsidiaries in the UK, Spain, Brazil and Germany. In this role, he became a senior executive in the Milliken hierarchy in Spartanburg, South Carolina, USA.
Mr. McCann graduated from the University of Manchester, England, with a degree in Economics and Accounting. He qualified as a Chartered Accountant in 1985 and is an Associate Chartered Accountant (ACA) from the Institute of Chartered Accountants in England and Wales since 1986.
Raj Kurichh, Co-Founder and Chief Marketing Officer said: "We are pleased to have Mr. McCann assist us in financial management and compliance, where his international experience is a real asset for our Company."
Mr. McCann takes over the Board seat from Mr. Alfredo Albi who has, for personal reasons decided to step down from the Board and as Chief Operating Officer. Mr. David Rowson has also stepped down from the Board. The Company wishes them the best in their future endeavors.
About the Company
NanoStruck Technologies Inc. is a Canadian Company with a suite of technologies that remove molecular sized particles using patented absorptive organic polymers. These versatile biomaterials are derived from crustacean shells or plant fibers, depending on requirements of their usage. Acting as molecular sponges, the nanometer-sized polymers are custom programmed to absorb specific particles for remediation or retrieval purposes. These could be to clean out acids, hydrocarbons, pathogens, oils and toxins in water via its NanoPure solutions. Or to recover precious metal particles in mine tailings, such as gold, silver, platinum, palladium and rhodium using the Company's NanoMet solutions.
By using patented modifications to conventional technologies and adding polymer-based nano-filtration, the Company's offers environmentally safe NanoPure solutions for water purification. The Company uses Environmental Protection Agency (EPA) and World Health Organization (WHO) guidelines as a benchmark for water quality and safety to conform to acceptable agricultural or drinking water standards in jurisdictions where the technology is used.
Additionally, the Company's technology can be used to recover precious and base metals from mine tailings, which are the residual material from earlier mining activities. By retrieving valuable metals from old tailing dumps, the Company's NanoMet solutions boosts the value of existing mining assets and reduces the need for new, costly and potentially environmentally harmful exploration and mining.
The Company's current business model is based on either selling water remediation plants or leasing out units and charging customers on a price per liter basis with a negotiated minimum payment per annum. For processing mine tailings, the value of precious metal recovered is shared with tailing site owners on a pre-agreed basis.
On behalf of the Board of Directors:
Bundeep Singh Rangar, CEO and Chairman
T: (905) 813-0900
E: [email protected]
NEITHER THE CANADIAN NATIONAL STOCK EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAS REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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 year ended December 31, 2013 and 2012, filed on March 2, 2014 under the Company's profile on www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY