BELIZE CITY, Belize, May 21,
2015 /PRNewswire/ -- The directors and management of
N1 Technologies Inc. (OTC PINK: NTCHF) announced today that
the company will partially spin-off it's R&D subsidiary
NanoSave Technologies Inc. as a stand alone public company pending
regulatory-legal review. NanoSave Technologies Inc. a
Florida corporation has been the
long standing research and development arm of parent company N1
Technologies Inc. NanoSave Technologies Inc. has provided
R&D for many of the company's nano based products, such as the
NanoSave N1 Motor Oil line, Tungstalon Advance Nano plastics, and
NanoBolt Lithium Tungsten Battery to name just a few. "We see this
partial carve out as a great opportunity to unlock under utilized
value and tap new capital resources for future innovation," stated
Steve Lovern CEO. The company has begun talks with its
attorneys and accountants to list NanoSave Technologies Inc. as a
stand alone public company. The company is looking at structuring
an IPO (Initial Public Offering) of $50
million dollars U.S. offering up to 40 percent of the
company's shares to investors. The capital proceeds will be used to
fund a number of existing projects including an advanced video
camera system called Osiris Optium, that has Military and Satellite
Imaging capabilities www.OsirisOptical.com and the company's
patented Velocitron Engine, an advanced electric generator built
into current gas engines eliminating the need for an external
generator. www.VelocitronEngine.com N1 Technologies Inc. will
retain a 60% stake in the newly minted public company benefiting
from any new discoveries made by NanoSave Technologies Inc.
The company expects to have the listing completed by the end of the
3rd quarter of 2015.
FORWARD-LOOKING INFORMATION
Certain statements
contained in this press release constitute forward-looking
information. These statements relate to future events or future
performance. The use of any of the words "will" and similar
expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the Corporation's current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. Various assumptions or
factors are typically applied in drawing conclusions or making the
forecasts or projections set out in forward-looking information.
Those assumptions and factors are based on information currently
available to the Corporation. The forward-looking information
contained in this release is made as of the date hereof and the
Corporation is not obligated to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information contained
herein.
http://www.N1Technologies.com
RELATED LINKS
Email: info@N1Technologies.com
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SOURCE N1 Technologies Inc.
