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Nano Cluster Devices Announces Major Transaction
22 November 2005
Nano Cluster Devices Announces Major Transaction
Christchurch, New Zealand, based Nano Cluster
Devices Ltd (www.nanoclusterdevices.com
The major components of
the transaction are
* NanoDynamics takes control of
US-based Nano Cluster Devices Inc and guarantees its
performance in marketing the technology developed by Nano
Cluster Devices Ltd. * Nano Cluster Devices Inc is granted
an exclusive license to the novel cluster-based technologies
developed by Nano Cluster Devices Ltd. * Nano Cluster
Devices Ltd receives ongoing funding for further development
work, licence and royalty revenues, and options to convert
back to an ownership interest in Nano Cluster Devices Inc in
certain circumstances.
NCD Ltd Director Michael Hawkins, who negotiated the deal with NanoDynamics, said "NanoDynamics are one of the leading nanotechnology companies in the world, with a very high international profile. The licensing and development agreements that have been negotiated secure market access for NCD's technology, and guarantee NCD Ltd's financial position into the medium term."
Shareholders of Nano Cluster Devices Ltd unanimously approved the transaction prior to signing.
Further details are available in NanoDynamics' US
press release here
ENDS
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