California Nanotechnologies Purchases an Additional 500,000 SRL Nano Corp Shares with Option to Purchase Additional Shares

    




 CALIFORNIA NANOTECHNOLOGIES CORP. CNO-TSX VENTURE 

 CERRITOS, CA, Dec. 20, 2011 /CNW/ - California Nanotechnologies Inc  ("Cal Nano") is pleased to announce that it has purchased an additional  500,000 shares of SRL Nano Corporation ("SRL Nano") for $50,000 US.  As  part of the transaction, Cal Nano has an option to purchase an  additional 500,000 shares of SRL Nano for $50,000 prior to Nov 8, 2012. 

 This capital investment, together with funds from another long term  investor, will allow SRL Nano to continue the commercialization of  their patented Hypercarbide cutting tools. Hypercarbide exhibits  superior performance over other cutting tools on the market, including  those manufactured from Cubic Boron Nitride (CBN), which are the  current state of the art in the cutting tool industry, where sales in  the US exceed one billion dollars annually. Initial tests conducted by  various third parties have indicated that these tools can cut hardened  tool steels at least 6 to 10 times more efficiently than CBN cutting  tools, dramatically increasing productivity for a variety of  manufacturing applications. SRL Nano began the delivery of the first  commercial products to customers in early November 2011. 

 Except for historical information contained herein this document  contains forward-looking statements. These statements contain known and  unknown risks and uncertainties that may cause the company's actual  results or outcomes to be materially different from those anticipated  and discussed herein.  

 THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE  INFORMATION CONTAINED HEREIN. 

California Nanotechnologies Corp.


CONTACT:  Chris Melnyk, VP Product Development(562) 991-5211 x100(562) 926-6913 (fax)[e-mail] 


    

Copyright