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Nanalysis Appoints New Chief Financial Officer

CALGARY , Oct. 24, 2019 /CNW/ - Nanalysis Scientific Corp. (the "Company" or "Nanalysis", TSX-V: NSCI), is pleased to announce that Luke Caplette is joining the company as its Chief Financial Officer (CFO). Mr. Caplette, CPA/CA, spent the early part of his career at Ernst & Young as Senior Accountant and was most recently CFO at Cordy Oilfield Services Inc.

Nanalysis Scientific Corp. (CNW Group/Nanalysis Scientific Corp.)

Luke Caplette states: "I am excited to be joining the Nanalysis team. I've listened to the Company's plan to scale its business globally, and I'm looking forward to being a part of that vision. Nanalysis has commercially successful technology products, a very interesting growth roadmap, and I look forward to bringing my financial and process acumen to complement the current Nanalysis team."

Sean Krakiwsky , CEO of Nanalysis added: "Rapid growth always presents challenges related to internal process and Luke has great experience, as demonstrated through his service at Cordy Oilfield Services, putting in place the kind of financial controls that will allow us to continue to execute our strategy while ensuring our financial foundation is perfectly aligned."

Mr. Caplette's appointment as Nanalysis CFO is effective October 28 th. Current CFO, Mr. Gary Reavie , will remain with the company in a part-time capacity. Nanalysis thanks Mr. Reavie for his excellent service as CFO over the past 2 years, which was instrumental in the company's success and in the process of taking the Company public.

The Company also announces that it is granting stock options to acquire up to 525,000 common shares of the Company to certain of its employees, consultants, officers and directors. The options have an exercise price of $0.60 per common share and expire on October 28, 2024 .

About Nanalysis Scientific Corp. (TSX-V: NSCI, FRA:1N1)

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

Nanalysis devices are used by chemical professionals in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, 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.

Notice regarding Forward Looking Statements and Legal Disclaimer

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 Corporation 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.

The TSX Venture Exchange or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek safe harbor.

SOURCE Nanalysis Scientific Corp.

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