VANCOUVER, British Columbia--(BUSINESS WIRE)-- NanoStruck Technologies Inc. (the “Company” or “NanoStruck”) (CNSX:NSK) (OTCQX:NSKTF) (Frankfurt:8NSK) announces a new agreement with Nano Africa (Pty) Ltd. and its affiliate New World Sanitations CC of South Africa.
NanoStruck has reached an agreement with Nano Africa (Pty) Ltd. (Nano Africa) and its affiliate New World Sanitations (NWS) whereby NWS intends to increase sales of its sanitation system, which utilizes NanoStruck's NanoClear Filters as well as Nano Africa marketing and promoting NanoStruck’s NanoPure water purification and NanoMet precious metal retrieval systems in South Africa.
NWS has developed a sewage digester unit that is designed to reduce water usage for a family of five to 300 liters per year, while an average family uses between 70,000 liters to 90,000 liters of water to flush their toilet per year. An environmentally conscious system, it uses no outside sources of water or power and is especially suitable for areas where there is no sewage system. NanoStruck's nano polymer based NanoClear filtration system is a critical component of NWS' digester unit and gives NWS a competitive edge in the South African market. It is anticipated that NWS shall require at least 5,000 NanoClear filters in 2014.
Nano Africa is in dialogue with a number of companies in South Africa who are interested in utilizing NanoStruck’s NanoPure water purification System and NanoMet precious metal recovery technologies.
Jürgen Graupe, CEO of Nano Africa and NWS said: “This broad cooperation further builds the relationship between NanoStruck and his companies and enhances Nano Africa's ability to introduce and market NanoStruck’s innovative solutions into the water purification and mining industries in South Africa.”
Bundeep Singh Rangar, interim CEO of NanoStruck said: “Nano Africa and NWS are trusted partners that have identified several business opportunities for NanoStruck. Their understanding of local complexities helps de-risk our plans in South Africa, which is an important market for our growth.”
According to the South African Chamber of Mines, South Africa is the world’s biggest platinum producer, with 80% of the world’s reserves. It also has 50% of known global gold reserves. Minerals and metals account for 60% of all South African export revenue, while mining contributes close to 10% of South Africa’s Gross Domestic Product (GDP).
As consideration, Nano Africa shall receive a commission, based on net revenues achieved by NanoStruck, in relation to each water remediation and/or mineral remediation plant that is sold in South Africa as a result of Nano Africa's efforts. Additionally, Jurgen Graupe, or his assigns, shall receive 500,000 common shares of NanoStruck as consideration for consulting services already provided to NanoStruck.
About the Company
NanoStruck Technologies Inc. is a Canadian Company with a suite of technologies that remove molecular sized particles using patented absorptive organic polymers. These versatile biomaterials are derived from crustacean shells or plant fibers, depending on requirements of their usage. Acting as molecular sponges, the nanometer-sized polymers are custom programmed to absorb specific particles for remediation or retrieval purposes. These could be used to clean out acids, hydrocarbons, pathogens, oils and toxins in water via its NanoPure solutions. Or to recover precious metal particles in mine tailings, such as gold, silver, platinum, palladium and rhodium using the Company’s NanoMet solutions.
By using patented modifications to conventional technologies and adding polymer-based nano-filtration, the Company offers environmentally safe NanoPure solutions for water purification. The Company uses Environmental Protection Agency (EPA) and World Health Organization (WHO) guidelines as a benchmark for water quality and safety to conform to acceptable agricultural or drinking water standards in jurisdictions where the technology is used.
Additionally, the Company’s technology can be used to recover precious and base metals from mine tailings, which are the residual material from earlier mining activities. By retrieving valuable metals from old tailing dumps, the Company’s NanoMet solutions boosts the value of existing mining assets and reduces the need for new, costly and potentially environmentally harmful exploration and mining.
The Company’s current business model is based on either selling water remediation plants or leasing out units and charging customers on a price per liter basis with a negotiated minimum payment per annum. For processing mine tailings, the value of precious metal recovered is shared with tailing site owners on a pre-agreed basis.
NEITHER THE CANADIAN NATIONAL STOCK EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAS REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Statements relating to "reserves" or "resources" are deemed to be forward-looking statements because they involve the implied assessment, based on certain estimates and assumptions that the resources and reserves described can be profitably produced in the future. Forward-looking statements in this press release include that TNM may engage NanoStruck to recover gold and silver from its tailing material at its Noche Buena mine.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s Management’s Discussion and Analysis for the years ended Sept. 30, 2013 and 2012 and filed on Jan. 29, 2014 under the Company’s profile on www.sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
Source: NanoStruck Technologies Inc.