Nanalysis Announces Results of AGM and Appointment of New Director

CALGARY, AB, June 23, 2022 /PRNewswire/ - Nanalysis Scientific Corp. ("the Company", ("the Company", TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1), a leader in portable NMR machines and MRI technology for healthcare and industrial applications, is pleased to report that all proposed resolutions were approved at the Company's Annual General and Special Meeting of shareholders held on June 22, 2022 (the "Meeting"). The number of directors was set at 7 and all director nominees, as listed in the Management Information Circular dated May 20, 2022 (the "Information Circular"), were elected as directors of the Company at the Meeting to serve for a one-year term and hold office until the next annual meeting of shareholders. According to the proxy votes received from shareholders, the results were as follows:

Shareholders voted 99.85% in favor of setting the number of directors at seven, 99.6% in favor of appointing Ernst & Young LLP, as auditor of the Company for the ensuing year and to authorize the Directors of the Company to fix the auditor's remuneration and 98.1% in favor for the approval of an amended stock option plan of the Company.

The Company is pleased to welcome Kham Lin to Nanalysis's Board of Directors with immediate effect following shareholder approval at the Meeting.

Mr. Lin is currently a Managing Director at Nanalysis and was formerly the President and Chief Executive Officer of KPrime Technologies before the Company's acquisition by Nanalysis.  Over twenty plus years, Mr. Lin built KPrime, into a manufacturing representative business for global companies like Agilent Technologies, Metrohm USA, Sartorius LPS Division, and Leidos.  KPrime has a portfolio of sales and services in scientific detection and measuring equipment, financing, and asset management for chemical and security industries.  Mr. Lin resides and works in Calgary, Alberta, Canada but also splits time in Phoenix, Arizona at KPrime Headquarters. 

Nanalysis trades on the TSX Venture Exchange (TSXV) in Canada with ticker symbol 'NSCI', OTC and the Frankfurt exchange under the ticker symbol '1N1'. The company's business is what we term "MRI and NMR for industry". The company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. Nanalysis recently announced that it has begun selling a 100MHz device in 2020. The Company's new device will be the most powerful and most advanced compact NMR device ever brought to market.

Nanalysis devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, and more) as well as numerous government and university research labs around the world. The Company continues to exploit new global market opportunities independently and with partners.

With the recent acquisition of K'Prime, the company maintains a North American sales and service company of over 40 individuals who cover scientific instrumentation for pharma, food, chemical and oil & gas customers, as well as imaging systems for security applications.

Additionally, the Company has a 43% ownership in Quad Systems AG ("Quad Systems"), with an option to purchase the remaining shares.  Quad Systems is a Zurich-based Nuclear Magnetic Resonance (NMR) company focused on high-field NMR for pharmaceutical and other vertical markets.

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "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 news release. Forward-looking statements are based on the opinions and estimates of management at 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 to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nanalysis Scientific Corp.