Nano One Reports on Recent Financial Events

VANCOUVER, British Columbia, July 20, 2020 (GLOBE NEWSWIRE) -- (TSX-V: NNO) (OTC-Nasdaq Intl Designation: NNOMF) (Frankfurt: LBMB).  Nano One Materials ("Nano One" or the "Company") is pleased to provide an update on recent financial events: 

Nano One has received the final payment of $217,446, of $1,950,922 total, in respect to the successfully completed Demonstration Pilot Plant project with the Automotive Suppliers Innovation Program (ASIP). The ASIP program is administered by the Strategic Innovation Fund of Innovation Science and Economic Development (ISED) Canada. Nano One’s project began in June 2016 and involved the research and development of four different cathode materials for lithium ion batteries for use in automotive applications.

Nano One also received the final payment of $46,618, of $241,224 total, in respect to the Innovation Assistance Program administered by the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). This program is a COVID-19 wage subsidy program from the Government of Canada for the 12-week period from April 1 to June 24, 2020.

Nano One is also encouraged by the support of its shareholders for the recent exercises of share purchase warrants for total proceeds of $288,000. A total of 180,000 share purchase warrants were exercised between July 9 and July 17, 2020 including finders’, incentive, and regular warrants in aggregate, at a weighted average exercise price of $1.60 per share.

As a Reporting Issuer, Nano One would also like to report that it has granted 1,140,000 incentive stock options with an exercise price of $2.52 to directors and officers of the company.

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 [phone] 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.