Nanalysis Scientific Corp (NSCI)

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Nanalysis Scientific Corp. Announces $4,985,000 Funding Contribution from the Canadian Government

Calgary, Alberta, March 17, 2022 Nanalysis Scientific Corp. (TSXV:NSCI, OTCQX:NSCIF, FRA:1N1) (“Nanalysis” or the “Company”) announces that the Company has received repayable funding of $4,985,000 to expand manufacturing operations and global markets for nuclear magnetic resonance products from the government of Canada.    
 
“We are very thankful for the support from the Canadian government,” said Sean Krakiwsky, founder and Chief Executive Officer of Nanalysis.  “Nanalysis is thrilled to be one of the recipients from Prairies Economic Development Canada. This funding allows us to accelerate product innovation, expand our manufacturing capabilities, build up inventory levels to mitigate any supply chain issues and de-risk potential down time through redundant equipment. These funds will help enable us to continue to drive significant growth as we expand our global footprint.”
 
The funding is provided through Prairies Economic Development Canada’s (“PrairiesCan”) Business Scale-up and Productivity program, which provides fast growing tech firms with support to scale-up and enter new markets. Nanalysis will draw down on the funds over the next three years with interest-free repayments commencing on September 1, 2025.