-New Board Members to Help Build Organic and Inorganic Growth
-New Board Members to Strengthen Corporate Governance
-Investor Relations Consultant to Raise Awareness of Company in Capital Markets
Vancouver, BC / ACCESSWIRE / June 23, 2014 / NanoStruck Technologies Inc. (the "Company" or "NanoStruck") (CSE:NSK) (OTCQX: NSKTF) (Frankfurt: 8NSK) announces that the Company is pleased to announce that the following new board members were elected at the Annual General and Special Meeting of the Company held on June 20, 2014:
Mr. Bernholtz has spent six years with Laventhol & Horwath in the Litigation Support and Business Valuation practice and has served as a Director and Officer of various public, private, not for profit and condominium corporations over the last 30 years. Presently, he holds the position of Chief Financial Officer with an integrated real estate developer and property owner. His responsibilities include strategy, intergenerational planning, finance, accounting, taxation and personnel. In this capacity, he has completed approximately $1 billion in financing.
Mr. Bernholtz graduated with a Bachelor of Business Administration degree from York University. In addition he is a Chartered Accountant.
Bundeep Singh Rangar, Chairman of the Board said: "We are pleased to have Mr. Bernholtz's experience to help the Company achieve its strategic and financial goals, including inorganic growth via strategic acquisition opportunities."
Brij P.S. Chadda
Mr. Chadda has extensive board, advisory committee and work experience in both public and private sectors involving board policy and governance, public finance, grant administration and engineering.
Mr. Chadda worked for more than 20 years for the Ontario government central agencies (Ministry of Finance and the Treasury Board), Ontario Clean Water Agency (OCWA) and the Ministry of the Environment (MOE) in professional and management capacities.
He set annual budgetary allocations for the MOE, with a particular focus on funding for municipal water and sewage infrastructure, and while at OCWA, managed the $750 million Ontario government's municipal water and sewage grants program.
Mr. Chadda recently served for five years as a Director on the Board of Mississauga-Halton LHIN (Local Health Integration Networks) set up by the Ontario government to integrate and fund the provision of health care in this region. He also served on the Board's Audit and Finance Committee and the Governance Committee.
He served as a Director and the Chair of the Policy Advisory Committee of the Board of a major community organization in the Peel Region for five years. Mr. Chadda also served on Policy Advisory Committee of Ontario government's Management Board Secretariat.
Mr. Chadda holds an MBA and a Professional Engineer - Bachelor of Science in Mechanical Engineering. He has a certificate in Board Governance from University of Toronto.
Bundeep Singh Rangar, Chairman of the Board said: "We are pleased to bring Mr. Chadda on board and believe that his credentials and expertise in clean water and board governance will be a real asset to the Company."
Investor Relations - First Canadian Capital Corp.
Further to the news release of June 18, 2014, the Company has entered into an investor relations consulting agreement with First Canadian Capital Corp ("First Canadian") under which First Canadian will provide consulting services to the Company to raise investor awareness, attract investment and find strategic, financial partners, for a term of 12 months from the date of execution of the consulting agreement, for a fee of (i) $5,000 per month, plus HST, and (ii) the grant a total of 400,000 incentive stock options to First Canadian, exercisable at $0.15 per share for a period of three years. The grant of the options was announced in a press release on June 18, 2014.
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.
For further information contact:
Nelson Hudes, PR
T: (905) 660-9155
E: [email protected]
Raj Kurichh, Chief Marketing Officer
T: (905) 813-0900
E: [email protected]
NEITHER THE CANADIAN SECURITIES 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. The forward looking statements include that (i) the new board members will help build organic and inorganic growth, (ii) the new board members to strengthen corporate governance, (iii) investor relations consultant will raise awareness of the Company in capital markets, and (iv) Mr. Bernholtz will help the Company achieve its strategic and financial goals, including inorganic growth via strategic acquisition opportunities. 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 three and six months ended March 31, 2014, filed on May 29, 2014, and for the year ended September 30, 2013, filed on January 28, 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 PARTICULAR TIME.
SOURCE: NanoStruck Technologies Inc.