Nanalysis Scientific Corp. Announces Closing of Initial Equity Investment in Quad Systems
CALGARY, Alta., March 8, 2022 /PRNewswire/ – Nanalysis Scientific Corp. (TSXV:NSCI, OTCQX:NSCIF, FRA:1N1) (“Nanalysis” or the “Company”) in accordance with its press release dated January 18, 2022the Company announces that it has financed the initial investment in Quad Systems AG (“Quad Systems”), acquiring a 43% stake and an option to purchase the remaining shares.
“We are pleased to have closed this first part of our equity investment in Quad Systems,” said Sean Krakiwski, founder and CEO of Nanalysis. “As we mentioned, they have been our collaboration partners 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 convertible into 40,000 shares in the capital of Quad Systems. When financing the loan, Sean Krakiwskifounder and CEO of Nanalysis has been named to the board of directors of Quad Systems as a nominee of Nanalysis.
Under the terms of the subscription agreement entered into between the Company and QUAD Systems, Nanalysis issued 260,000 QUAD Systems shares for a subscription price of CHF6,500,000 and a second Nanalysis representative will be appointed to Quad Systems’ Board of Directors. Currently, Nanalysis owns 43% of Quad Systems.
Moreover, up to July 1, 2023 (“Option Period”), Nanalysis has an option (“Option”) to acquire 100% of the issued and outstanding shares of Quad Systems at a predefined valuation formula in a combination of cash and Nanalysis shares. During the option period, Nanalysis has a right of first refusal on all Quad Systems debt and equity offers.
The initial funds from Nanalysis will be used by Quad Systems to expand their product lines, 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 the symbol “NSCI”, OTC and the Frankfurt exchange under the symbol “1N1”. The company’s activity is what we call “MRI and NMR for industry”. The company develops and manufactures portable nuclear magnetic resonance (NMR) spectrometers or analyzers for laboratories and industrial markets. The NMReady-60™ was the first complete portable NMR spectrometer in a single compact enclosure requiring no liquid helium or other cryogens. The company has followed that initial offering with new products and continues to have a strong innovation pipeline. Nanalysis recently announced that it has started selling a 100 MHz device in 2020. The company’s new device will be the most powerful and advanced compact NMR device ever brought to market.
Nanalysis devices are used in many industries (oil and gas, chemical, mining, pharmaceutical, biotechnology, flavors and fragrances, agrochemicals, law enforcement, etc.) as well as in many government and university research laboratories around the world. worldwide. 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 organization of over 40 people that covers scientific instrumentation for pharmaceutical, food, chemical customers and oil and gas, as well as imaging systems for security applications.
Notice Regarding Forward-Looking Statements and Disclaimers
This press release contains certain “forward-looking statements” within the meaning of such statements under applicable securities laws regarding the following: the option and other matters incidental or incidental to the foregoing. Forward-looking statements are often characterized by words such as “expects”, “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “expects”, ” believes”, “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 press release. Forward-looking statements are based on the opinions and estimates of management as of 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 actuals differ materially from those projected in the forward-looking statements. research statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. expressly requires.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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