Mr. Eric Eyerman reports

CALIFORNIA NANOTECHNOLOGIES ANNOUNCES STOCK OPTIONS

California Nanotechnologies Corp. has granted 800,000 incentive stock options to the employees, directors and officers of the company. The options were granted pursuant to the company's stock option plan and received approval at a board of directors meeting held on Aug. 4, 2022. The options were granted at the exercise price of 9.5 cents per share which was the most recent closing price. The stock options will vest over three years and expire after a five-year period and are subject to TSX Venture Exchange requirements.

The options granted include those in the attached table.

About California Nanotechnologies Corp.

California Nanotechnologies is a provider of sophisticated nanotechnology solutions to complex metallurgical and ceramic customer applications. Our two core technologies are cryomilling and spark plasma sintering. Customer solutions using these technologies are offered by very few companies in North America, none of which have California Nanotechnologies' expertise and know-how. The company's technologies allow metals and other materials to take on enhanced performance characteristics which can be tailored for each customer's specific application. California Nanotechnologies' customers include leading aerospace manufacturers, United States national labs, multinational defence companies and energy corporations.

We seek Safe Harbor.