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Nanalysis Announces New Board Member

CALGARY, May 14, 2020 /CNW/ - Nanalysis Scientific Corp. ("Nanalysis" or "the Company", TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1) announces today that Mr. Steve Meszaros has resigned from the company's board of directors for personal reasons, effective May 13, 2020.

Nanalysis Scientific Corp. (CNW Group/Nanalysis Scientific Corp.)
Nanalysis Scientific Corp. (CNW Group/Nanalysis Scientific Corp.)

"On behalf of the Board of Directors, I would like to thank Mr. Meszaros for his time and dedication to Nanalysis over the past 6 years. Steve has been instrumental in helping build the company thus far." stated Martin Burian, Chairman, Nanalysis.

Sean Krakiwksy, CEO of Nanalysis states "We have been very fortunate to have Steve as an active shareholder and Director over the past 6 years, as we achieved critical milestones in our evolution as a company. His business instincts are second-to-none, which I experienced regularly as he mentored me as CEO, and his precious capital was the lifeblood of the company for many years before going public. We will all miss his formal association with Nanalysis but will continue to maintain and strengthen our relationship with him as an informal supporter."

Replacing Mr. Meszaros is Mr. Guido Cloetens. Mr. Cloetens joins the Board of Directors effective May 13, 2020. Mr. Cloetens brings over 30 years of capital market experience. He is the current Chief Executive Officer and Chairman of Elysee Developments Corp. and serves as a director at Edgemont Gold Corp. Guido was instrumental in facilitating the RTO of Canvass Ventures by Nanalysis in June 2019, and has assisted Nanalysis in raising capital and has been providing advisory services associated with the Company's acquisition strategy. His business acumen and expertise are welcome additions to the Company.

About Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1)

Nanalysis trades on the TSX Venture Exchange (TSXV) in Canada with ticker symbol 'NSCI' and over the counter in the United States under the ticker symbol 'NSCIF'. The company's business is what we term "MRI for industry": It develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady60™ was the first fully featured portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens, and the company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. Nanalysis recently announced that it intends to begin selling a 100MHz device in mid-2020. The Company's new device will be the most powerful non-cryogen, permanent magnet NMR device ever brought to market.

Nanalysis devices are used by chemical professionals in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, and more) as well as numerous government and university research labs around the world. The company continues to exploit new global market opportunities independently and with partners.

Notice regarding Forward Looking Statements and Legal Disclaimer

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nanalysis Scientific Corp.


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