Nanotech Awarded Third Phase of Initial Banknote Security Feature Development Contract
VANCOUVER, British Columbia – February 25, 2016 – Nanotech Security Corp. (TSXV: NTS) (OTCQX: NTSFF), today announced it has recently been awarded the third phase of its initial development contract with a major foreign government issuing authority to develop a unique optically variable security feature to be incorporated into banknotes. The third phase contract is valued at approximately $1,000,000.
Due to the highly confidential nature of the contract, no further details can be disclosed on the specifics of the development contract or its ultimate use.
“We are very pleased with successfully completing the first two phases of the project,” said Doug Blakeway, Nanotech Chief Executive Officer. “Being awarded this third phase positions Nanotech well to have this unique security feature designed into future banknotes.”
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to anticipated developments in our operations in future periods, the adequacy of our financial resources, and events or conditions that may occur in the future. When used in this news release, the words such as “plan”, “expects”, “pursue”, “will”, and similar expressions or statements generally identify forward-looking statements. These statements reflect our current expectations. The principal risks related to these forward-looking statements are that the Company’s intellectual property claims will not prove enforceable to provide the necessary commercial protection, the Company is not able to attract the necessary capital, and/or that the Company’s products will not be able to displace entrenched hologram, metalized strip tagging, or other conventional anti-counterfeiting technologies sufficiently to allow for profitability. In light of the many risks and uncertainties, there can be no assurance that the forward-looking statements contained in this press release will be realized.
About Nanotech Security
Through its security and surveillance divisions, Nanotech Security Corp. has been a leading innovator in the design and production of advanced security products and surveillance solutions for a number of years. Nanotech’s KolourOptik™ and Plasmogram™ products are nanotechnology based product platforms originally inspired by the unique optical properties of the iridescent wings of the Blue Morpho butterfly. Our security products produce intense, high definition optically-variable images and colour-shift optical thin films. Activated by a simple tilt or rotation, with higher resolutions than the best LED-displays, they are ideal for authentication of currency, passports, and identification cards in addition to distinguishing branded goods from counterfeits. Our surveillance division designs and manufactures sophisticated surveillance and intelligence gathering communications and forensic equipment for the law enforcement and intelligence community as well as runs a state of the art training academy where we provide technical surveillance training to the law enforcement community.
Additional information about Nanotech can be found at the Company’s website www.nanosecurity.ca, the Canadian disclosure filings website www.sedar.com or the OTCMarkets disclosure filings website www.otcmarkets.com.