Nanotech Business Update Regarding COVID-19
VANCOUVER, British Columbia, March 27, 2020 (GLOBE NEWSWIRE) — Nanotech Security Corp. (TSXV: NTS) (OTCQX: NTSFF) (“Nanotech” or the “Company”), a leader in the development of secure and memorable nano-optic security features used in the government and banknote and brand protection markets, announces an update on the impact of the COVID-19 pandemic on its business and operations.
Nanotech’s Thurso, Quebec production facility has been designated an essential service by the Quebec Government and it continues at full operation. Burnaby, BC offices and laboratories also remain open and fully operational. The Company has enforced stringent guidelines to ensure employees in its offices, labs and production facilities are taking appropriate steps to maintain a safe physical distance, with most employees already working from home.The future for Nanotech remains positive as the Company maintains a strong balance sheet, with $9.5 million in cash as at December 31, 2019 and no debt. The Company continues to deliver on its $30 million development contract while advancing initiatives to add new reference customers in the brand protection and banknote markets.Nanotech is closely monitoring developments surrounding the COVID-19 pandemic and will adjust its business and operations as required in alignment with government directives. Nanotech has established clear lines of communication for the safety of all stakeholders and its employees remain highly responsive to business needs during the pandemic.“We are fortunate that our business can adapt and fully operate to meet our customers’ needs when the world is facing these unprecedented public health challenges,” said Troy Bullock, President and CEO of Nanotech. “We remain confident the Company is well positioned to continue expanding our product offerings, partnerships and market.”About NanotechWith billions of security features in circulation, Nanotech’s products include secure and memorable security labels, stripes, patches, and colour-shifting films for currency authentication and brand protection.KolourOptik® is a patented technology that is exclusive to the government and banknote market and combines sub-wavelength nanostructures and microstructures to create modern overt security features with a unique and customizable visual effect. KolourOptik pure plasmonic colour pixels produce full colour, 3D depth, and movement used in security stripes and threads that are nearly impossible to replicate. At less than 5 microns thick, KolourOptik products seamlessly integrate into banknotes and other secure government documents.LiveOptik™ is a patented technology that utilizes innovative nano-optics one tenth the size of traditional holographic structures to create next generation overt security features customized to our customers’ unique requirements. LiveOptik delivers multi-colour, 3D depth, movement, and image switches for secure brand protection stripes, threads, and labels that are nearly impossible to replicate.Additional information about Nanotech can be found at the Company’s website www.nanosecurity.ca, the Canadian disclosure filings website www.sedar.com or the OTCMarkets disclosure filings website www.otcmarkets.com.Neither the 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.