CALGARY, AB, July 2, 2020 /CNW/ - Nanalysis Scientific Corp. ("Nanalysis" or the "Company") (TSXV:NSCI.V - News) (OTCQX:NSCIF - News) (FRA:1N1.F - News) is pleased to announce that the Board of Directors approved on July 1, 2020 the granting of 40,000 restricted share units ("RSUs" ) to each director of the Company pursuant to the Company's Restricted Share Unit Plan (the "RSU Plan") for a total of 160,000 RSUs. These RSUs vest in two stages, one-half 18 months from the date of grant and one-half 36 months from the date of grant. Each vested RSU entitles the holder to receive one common share of the Company (a "Common Share"). The RSU Plan was approved by the disinterested shareholders of the Company at the annual general and special meeting held on June 23, 2020. The fixed maximum number of the Company's Common Shares which may be available for issuance upon settlement of the RSUs issued under the RSU Plan is 1,000,000 Common Shares. In accordance with the policies of the TSX Venture Exchange, the maximum number of Common Shares which may be reserved for issuance under the RSU Plan and the Company's Stock Option Plan, in aggregate, cannot exceed 10% of the total number of the Company's issued and outstanding Common Shares.
The Company 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'. Nanalysis 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 continues to develop new products and has a strong innovation pipeline. Nanalysis began taking orders for the 100MHz device in early 2020. The Company's new device will be the most powerful non-cryogen, permanent magnet compact 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 both independently and with partners. March 2020, the Company acquired all outstanding shares of RS2D, a complementary technology company based in Strasbourg France that specializes in the development of cutting-edge MR electronics. Based on a single electronic board, RS2D has developed MR product lines in high-field ("HF") NMR and magnetic resonance imaging ("MRI") that can further advance Nanalysis' existing product line, while the new products to round out the Company's magnetic resonance technology portfolio.
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 the 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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