California Nanotechnologies Corp (CNO)

[junkHustler]

California Nanotechnologies Applies for Extension to Term of Warrants

LOS ANGELES, Oct. 03, 2017 (GLOBE NEWSWIRE) -- California Nanotechnologies Corp. (TSX-V:CNO) (OTCQB:CANOF) (the "Company") announces that it has made application to the TSX Venture Exchange (the "Exchange") to extend the term of 2,645,148 common share purchase warrants (the "Warrants") that were issued under the Company's private placement of units completed on April 8, 2014. The Warrants that are the subject of the application have an exercise price of $0.225 per common share and were originally set to expire on April 8, 2015. The Company previously extended the term of the Warrants to expire on October 8, 2015, subsequently extended the term to October 8, 2016 and finally to October 8, 2017. Insiders of the Company hold approximately 56% of these Warrants. The Company has now applied for consent to further extend the term of the Warrants from 42 months to 48 months from the date of original issuance of the Warrants in accordance with Exchange policies. The warrants will now expire on April 8, 2018.