Nanotech Wins $5.0 Million Purchase Order
VANCOUVER, British Columbia, Oct. 17, 2019 (GLOBE NEWSWIRE) — Nanotech Security Corp. (TSXV: NTS) (OTCQX: NTSFF) (“Nanotech” or the “Company”), a leading innovator in the research, creation and production of nano-optic structures and colour-shifting materials used in the government, banknote and brand protection markets, announces that it has been awarded purchase orders to advance its confidential development contract to the next stage.
Over the past four years, Nanotech has generated revenue from a paid development contract to design a unique security feature for a future banknote based on the Company’s KolourOptik® technology. Nanotech’s confidential customer has now awarded purchase orders totaling $5.0 million to advance this project to the next stage of development. With this award, Nanotech has secured its contract services revenue for fiscal 2020 at levels similar to fiscal 2019. Due to the confidential nature of the project, no further details of the project status, timing, or financial terms can be disclosed at this time.“We consider this award a significant project milestone in designing a security feature for our customer’s future banknotes,” said Troy Bullock, President and CEO. “This project is progressing well overall and we appreciate the confidence this customer has shown in our technology.”Nanotech’s KolourOptik technology platform is an innovative digital solution for the analog world which delivers uncompromising security, enabling governments to protect their products with true colour, depth, and motion.About NanotechNanotech researches, creates and produces nano-optic structures and colour-shifting materials used in authentication and brand enhancement applications across a wide range of markets including banknotes, tax stamps, secure government documents, and commercial branding.The Company’s KolourOptik® technology employs arrays of billions of nano-indentations that can be impressed or embossed onto a wide range of substrate materials including polymer, paper, metal, or fabric. By using sophisticated algorithms to direct an electron beam lithography system, the Company creates visual images with effects such as 3D, perceived movement, and the display of high-definition colours.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.