Nanalysis Scientific Corp. Announces Management Transitions

CALGARY, AB, July 21, 2022 /PRNewswire/ - Nanalysis Scientific Corp. (TSXV: NSCI) (OTCQX: NSCIF) (FRA: 1N1) ("Nanalysis" or the "Company") announces that the current CFO, Luke Caplette, is stepping down as CFO, but will remain with the Company as a part-time consultant to assist the transition to a new CFO. The Company is pleased that its Corporate Controller, Randall McRae, has been appointed interim-CFO.

"We wish to thank Luke for his tremendous contribution to Nanalysis as CFO over the last three years. Luke remains an integral part of our team and remains committed to the success of the organization," said Sean Krakiwsky, Founder and Chief Executive Officer of Nanalysis. "Randall has worked for Nanalysis for the past six months as a consultant and will provide solid continuity during this transition. We are impressed with Randall's varied experience, his entrepreneurial spirit, and tremendous energy."

Randall McRae, CPA, CA joins Nanalysis from MNP LLP/Deloitte LLP, where he was a Senior Manager on the Specialty Tax team and has over fifteen years experience working in public and private companies, both as a public practice accountant with large, medium and boutique firms, and as an internal accountant working both within and leading finance teams.  Prior to this role, Mr. McRae was a Co-Founder and Partner of McRally LLP, a Calgary based cloud accounting firm that specialized in tax reporting and planning, financial reporting, and strategic advisory services to high growth business clients with technology based and people driven solutions to automate and add scalability to their accounting and finance functions. Randall was one of two founding partners of McRally LLP and grew the business from inception to over 100 active clients and eight full and part-time team members.  Randall has experience in many industries including technology and automation, energy services, construction, and oil and gas.  Randall is a member of the Institute of Chartered Professional Accountants of Alberta and holds a Bachelor of Commerce degree from the University of Calgary.

Randall McRae, newly named interim CFO states, "I have become quite familiar with Nanalysis over the last six months and I am excited to be joining a Company with such a fantastic vision. After my 15 years working at large accounting firms, the oil patch, as well as starting my own business, I look forward to the new challenges that I'll face with a technology Company and working closely with Sean and the Board of Directors to help Nanalysis achieve its lofty objectives. I'm confident that my experience, blended with the fabulously talented team at the company, will contribute to the continued growth of the business."

Werner Gartner, Chair of Nanalysis' Audit Committee, states: "Randall has all the skills and experience to succeed at this new role in leading the evolution our company's financial systems. I very much look forward to working with him."

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) Technologies Inc. ("KPrime"), 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 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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nanalysis Scientific Corp.