Nanotech Wins $6.7 Million Purchase Order
VANCOUVER, British Columbia, Sept. 30, 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 it has been awarded purchase orders to advance its confidential development contract to the next stage.
Over the past five years, Nanotech has generated revenue from a paid development contract to design a unique security feature for a potential future banknote based on the Company’s next generation nano-optic technology. Nanotech’s confidential customer has awarded confirmed purchase orders totaling $6.7 million for fiscal 2021, with an opportunity for an additional $1.5 million depending on the customer receiving additional budgetary approval for the project. With this award, Nanotech has secured its contract services revenue for fiscal 2021 at levels 10% higher than 2020 and with an opportunity to achieve growth of 34%. 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.“The customer’s decision to expand the scope of activities this year is validation of the project’s success,” said Troy Bullock, President and CEO. “This project continues to progress well overall and we appreciate the confidence this customer has shown in our technology.”FORWARD LOOKING STATEMENTSThis news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to anticipated developments in our operations in future periods and events or conditions that may occur in the future. When used in this news release, the words such as “plan”, “expects”, “pursue”, “will”, and similar expressions or statements generally identify forward-looking statements. These statements reflect our current expectations. In light of the risks and uncertainties, there can be no assurance that the forward-looking statements contained in this news release will be realized.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.