Mr. Eric Eyerman of California Nanotechnologies reports

CALIFORNIA NANOTECHNOLOGIES ANNOUNCES FINAL DEBT REPAYMENT TO OMNI-LITE INDUSTRIES

California Nanotechnologies Corp. has made its final debt repayment to Omni-Lite Industries Canada Inc. in the amount of approximately $600,000 (U.S.).

This marks the first time the company has been debt-free in approximately 15 years after receiving its first intercompany advance from Omni-Lite. The final repayment was made ahead of its scheduled maturity in May, 2025, providing interest savings to the company.

"We are happy to report that Cal Nano is now debt-free after paying off all of the advances received from Omni-Lite," stated California Nanotechnologies chief executive officer Eric Eyerman. "This provides us with more flexibility on how to invest our operating cash flows as we continue scaling our manufacturing services. Given our long history of trying to grow our business while under a significant debt burden, this is a welcome change for us."

Omni-Lite made its initial intercompany advance to California Nanotechnologies in fiscal 2010. The total loan grew to approximately $1.5-million (U.S.) in fiscal 2023 before California Nanotechnologies began making debt repayments. These payments coincided with the company's improved operating profits and cash flow generation.

On this occasion, California Nanotechnologies would like to acknowledge the long-term support Omni-Lite has provided to the company since it was founded. Omni-Lite provided California Nanotechnologies with the initial capital and foundation to build a uniquely profitable and fast-growing business in the field of advanced materials. The company would also like to acknowledge the efforts of David Grant, the founder and former chief executive officer of both California Nanotechnologies and Omni-Lite, who had the vision to create California Nanotechnologies as an independent public entity.

About California Nanotechnologies Corp.

At California Nanotechnologies, the company envisions a world in which its advanced technologies are used to help make the most innovative products on this planet and beyond. With its unique expertise in processing metallurgic powders into parts, global leaders trust California Nanotechnologies to help push the boundaries of applied material science. Headquartered in greater Los Angeles, California, California Nanotechnologies hosts advanced processing and testing machinery and capabilities across two manufacturing facilities for materials research and production needs. California Nanotechnologies' customers range from Fortune 500 companies to start-ups with programs spanning aerospace, renewable energy, defence and semiconductors.

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