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Nanalysis Scientific Corp. ( TSXV:NSCI , OTCQX:NSCIF, FRA:1N1) ("Nanalysis" or the "Company") in accordance with its press release dated January 18, 2022 the Company announces that it has funded the initial equity investment in Quad Systems AG ("Quad Systems"), acquiring 43% ownership and an option to purchase the remaining shares.
"We are happy to have closed this initial portion of our equity investment in Quad Systems," said Sean Krakiwsky , founder and Chief Executive Officer of Nanalysis. "As we have mentioned, they have been a collaborative partner of ours for some time and these funds will help expand our product line with the launch of their full system in 2022."
As part of the agreement, Nanalysis provided Quad Systems with a CHF 1,000,000 loan which is convertible into 40,000 shares in the capital of Quad Systems. Upon funding the loan, Sean Krakiwsky , founder and CEO of Nanalysis was appointed to Quad Systems' Board of Directors as Nanalysis' nominee.
Pursuant to the subscription agreement entered into between the Company and QUAD Systems, Nanalysis has been issued 260,000 QUAD Systems shares for a subscription price of CHF 6,500,000 and a second representative of Nanalysis will be appointed to Quad Systems' Board of Directors. Currently, Nanalysis owns 43% of Quad Systems.
Additionally, until July 1, 2023 ("Option Period"), Nanalysis has an option ("Option") to acquire 100% of the issued and outstanding shares of Quad Systems at a pre-set valuation formula in a combination of cash and Nanalysis shares. During the Option Period, Nanalysis has a right of first refusal on all debt and equity offerings of Quad Systems.
The initial funds by Nanalysis will be used by Quad Systems to complete their product lines, to launch products created through the companies' collaboration, and grow the combined businesses.
About Nanalysis Scientific Corp. ( TSXV:NSCI , OTCQX:NSCIF, FRA:1N1)
Nanalysis trades on the TSX Venture Exchange (TSXV) in Canada with ticker symbol 'NSCI', OTC and the Frankfurt exchange under the ticker symbol '1N1'. The company's business is what we term "MRI and NMR for industry". The company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. Nanalysis recently announced that it has begun selling a 100MHz device in 2020. The Company's new device will be the most powerful and most advanced compact NMR device ever brought to market.
Nanalysis devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, 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.
With the recent acquisition of K'(Prime) Technologies Inc. (KPrime), the company maintains a North American sales and service company of over 40 individuals who cover scientific instrumentation for pharma, food, chemical and oil & gas customers, as well as imaging systems for security applications.
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 pertaining to the following: the Option and other matters ancillary or incidental to the foregoing. 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 (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Nanalysis Scientific Corp.
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