Nanotech Security Raises $3.9 Million for Anti-Counterfeiting Systems

Posted by Techvibes NewsDesk

Nanotech Security Corp. announced yesterday that it has raised $3.9 million by private placement.

Originating at Simon Fraser University 4D-Labs, Nanotech's versatile KolourOptik nanotechnology can be used to protect virtually anything including banknotes, coins, electronics and consumer goods from counterfeiting.

The proceeds from the placement are being held in escrow pending the completion of two patent-entity acquisitions, which were previously announced.

SEE ALSO: Former BlackBerry Executive Frenny Bawa Joins Vancouver's Nanotech Security

According to Nanotech CEO Doug Blakeway the financing proceeds will be used to "accelerate development and commercialization of their nanotechnology based optical imaging products for use in anti-counterfeiting systems for currency, documents and branded commercial products".

Mr. Blakeway added by way of press release, “"In addition to eliminating a significant royalty on product sales, the patent entity acquisitions will provide Nanotech with flexibility to develop applications for our nano-optic technology beyond security and anti-counterfeiting. Once the purchase is complete, we will have direct ownership of the principal nanotechnology patents, as well as additional related intellectual property, giving us increased IP breadth and security of title.”

Nanotech won the Most Promising Pre-Commercial Technology award at the 2013 BCTIA Technology Impact Awards.

Company:
Nanotech Security Corp.
Website:
http://www.nanosecurity.ca
Location:
Vancouver, British Columbia, Canada

Nanotech Security Corp. is a public company trading on the TSX Venture exchange under NTS.V. With a 20 year history as a leading innovator in the design and commercialization of advanced security products and devices, Nanotech's latest venture uses SFU born nanotechnology to harness the luminescence of the iridescent wings of the Blue Morpho Butterfly to develop a sophisticated new feature to fight counterfeiting. more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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