Mr. David Robbins reports

OMNI-LITE INDUSTRIES ANNOUNCES DEBT REPAYMENT FROM CALIFORNIA NANOTECHNOLOGIES

California Nanotechnologies Corp. has fully paid off the outstanding debt owed to Omni-Lite Industries Canada Inc. aggregating approximately $600,000 (U.S.), composed of principal and interest related to the loan and promissory note previously advanced to California Nanotechnologies. Accordingly, the debt repayment will result in an increase to the company's cash position, and a corresponding reduction, or extinguishment, in the carrying value of the outstanding debt receivable, along with a one-time gain, or to other income of approximately $200,000 (U.S.). Additionally, the company has realized cash proceeds from the recent sale of approximately 230,000 shares of California Nanotechnologies common stock, which will result in an additional increase in cash in the fiscal fourth quarter 2024.

David Robbins, Omni-Lite's chief executive officer, stated, "Having Cal Nano retire this loan obligation in advance of agreed payment terms is welcomed, as well as we build out our capital resources to deploy to our own growth initiatives."

About Omni-Lite Industries Canada Inc.

Omni-Lite is an innovative company that develops and manufactures mission-critical, precision components utilized by Fortune 100 companies in the aerospace and defence industries.

We seek Safe Harbor.