Nano One Receives $5,820,269 in Q3 and Re-files Q2 2020 Financial Statements and MD&A to Revise Presentation of Cash Flows
October 1, 2020 (Source) — Nano One Materials Corp. (TSXV: NNO) (OTC Pink: NNOMF) (FSE: LBMB) (“Nano One” or the “Company”) is pleased to provide an update on recent financial events:
Nano One has successfully completed milestone 1 of the “Scaling Advanced Battery Materials” project supported by Sustainable Development Technology Canada (SDTC). With the Company advancing towards the projects milestone 2 deliverables it has received an advanced contribution for milestone 2 of $2,805,203 from SDTC and other funding partners.
Subsequent to reporting financial results for the six months ended June 30, 2020, the Company has also received aggregate proceeds of $3,015,066 from the exercise of 2,160,811 warrants and options.
Dan Blondal CEO of Nano One said: “The addition of almost six million dollars further strengthens our financial position as we advance our technology towards commercialization.”
The Company has amended and re-filed its interim financial statements for the six months ended June 30, 2020 (“Q2 2020”) as well as its corresponding management discussion and analysis (“MD&A”) relating to the period, to reflect revised presentation of the cash flow statements. There were no changes to the presentation of the Company’s cash flow statements, loss and comprehensive loss, and changes to shareholders’ equity. The Company has also filed amended interim CEO and CFO certifications of disclosure in accordance with National Instrument 52-109.
Nano One Materials Corp.
Dan Blondal, CEO
For information with respect to Nano One or the contents of this news release, please contact John Lando (President) at (604) 420-2041 or visit the website at www.nanoone.ca.
About Nano One
Nano One Materials Corp has developed patented technology for the low-cost production of high-performance lithium ion battery cathode materials used in electric vehicles, energy storage and consumer electronics. The processing technology enables lower cost feedstocks, simplifies production, and advances performance for a wide range of cathode materials. Nano One has built a demonstration pilot plant and is partnered with global leaders in the lithium ion battery supply chain to advance its lithium iron phosphate (LFP), lithium nickel manganese cobalt oxide (NMC) and lithium nickel manganese oxide (LNM) cathode technologies for large growth opportunities in e-mobility and renewable energy storage applications.
Nano One’s pilot and partnership activities are being funded with the assistance and support of the Government of Canada through Sustainable Development Technology Canada (SDTC), the Automotive Supplier Innovation Program (ASIP) a program of Innovation, Science and Economic Development Canada (ISED), and the Province of British Columbia through the Ministry of Energy, Mines and Petroleum Resources. Nano One’s mission is to establish its patented technology as a leading platform for the global production of a new generation of battery materials. www.nanoone.ca
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, any statements regarding its financial position, business strategy, growth strategies, budgets, operations, financial results, plans, objectives and other information that is not historical fact… Generally, forward-looking information can be identified by the use of forward-looking terminology such as ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. See “Cautionary Note Regarding Forward-Looking Information” and “Risk Factors” in the Company’s Annual Information Form which is available on www.sedar.com for a discussion of the uncertainties, risks and assumptions associated with these statements. We caution that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect our results… There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
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