CNO-TSX VENTURE
CERRITOS, CA,
April 29, 2014 /CNW/ - California
Nanotechnologies ("Cal Nano") is pleased to announce the
appointment of Mr. Roger Dent to
replace Mr. Donald J. Kelly on the
Board of Directors of Cal
Nano. Mr. Roger Dent is
the chief executive officer of Quinsam Capital Corporation and is a
director of Quia Resources Inc and ACUITYAds Inc. Mr. Dent and
Quinsam Capital Corp. have a major vested interest in the success
of Cal Nano, having subscribed for
an aggregate of over 40% of Cal
Nano's recent private placement. He is also a member of the
advisory board of Energex Petroleum Inc. From 2003 to 2011, he held
various positions including portfolio manager with Matrix Fund
Management Inc., where he managed the Matrix Strategic Small Cap
Fund and the Matrix Small Companies Fund. He was formerly
vice-chairman of one of Canada's
largest independent investment dealers and was managing director
and deputy manager of research at CIBC World Markets. He has an MBA
from the Harvard Graduate School of Business Administration and a
B. Comm. from Queen's University. Mr. Dent will also take Mr.
Kelly's position on the audit committee.
Mr. Kelly resigned from the Board of Directors,
effective at the end of the Board meeting held in Cerritos, California on April 25, 2014. Mr. Kelly has been a member of
the Board since the Company's inception and as such has made a very
significant contribution to the Company's success. Mr. Kelly will
continue his efforts to support the Company as a consultant. "The
Company thanks Mr. Kelly for all his invaluable guidance over the
years and wishes him success in every future endeavor that
retirement allows," stated Christopher
Melnyk, CEO.
Roger Dent will
receive 100,000 incentive stock options at a price of $0.115 CAD per share as compensation for joining
the Board. The options are governed by the Company's stock option
plan approved at the last annual meeting held on October 18,
2013 and as such vest over three years and are exercisable over a
term of five years. All options offered by the Company are subject
to TSX Venture Exchange (TSX-V) approval.
Except for historical information contained
herein this document contains forward-looking statements. These
statements contain known and unknown risk and uncertainties that
may cause the Company's actual results or outcomes to be materially
different from those anticipated and discussed herein.
Except for historical information contained
herein this document contains forward-looking statements. These
statements contain known and unknown risk and uncertainties that
may cause the Company's actual results or outcomes to be materially
different from those anticipated and discussed herein.
NEITHER 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.
SOURCE California Nanotechnologies Corp.