NaturalNano,
Inc. (OTCBB: NNAN), formerly known as Cementitious
Materials, Inc. (OTCBB: CTTM), announced that on
November 29, 2005 the Company completed the acquisition
of NaturalNano, Inc., a previously privately-held
company, through the merger of a wholly-owned subsidiary
of the Company into NaturalNano. In connection with
the merger, the Company changed its corporate name
to "NaturalNano, Inc." and, to reflect the Company's
new name, it will commence trading effective December
2, 2005 under the new trading symbol OTCBB: NNAN
on the Over-the-Counter (OTC) Bulletin Board. Prior
to the merger, NaturalNano closed a private placement
totaling $4,156,000.
NaturalNano is an advanced materials company whose primary business is discovering,
refining and marketing naturally occurring nanomaterials. The Company's efforts
are currently directed toward research, development, production and marketing
of proprietary technologies in the development of commercial applications for
halloysite nanotubes that enable a range of advanced applications in material
additives for polymers, plastics and composites; cosmetics and other personal
care products; absorbent materials; and pharmaceuticals and medical device
additives and coatings.
"We believe this merger and the private placement will allow us to further develop
and market our propriety technologies and processes," said Michael Riedlinger,
the Company's President. Riedlinger continued by saying, "NatualNano has assembled
a team of leading researchers in the field of nanotechnology and established
relationships with several government and research institutions across the country
and in Europe. We are looking forward to bringing our exciting new nanotechnologies
to the marketplace."
In the merger, the Company issued 44,919,378 shares of its common stock in
exchange for all of the issued and outstanding common stock of NaturalNano.
In addition, the Company issued 10,469,600 shares of its common stock to the
investors who purchased securities in the private placement. The securities
issued in the merger have not been registered under the Securities Act of 1933
and may not be resold for a period of one year absent a registration pursuant
to the Securities Act.
About NaturalNano, Inc.:
NaturalNano, Inc. (OTCBB: NNAN) is an advanced materials company that is developing
unique and proprietary processes for refining naturally occurring nanotubes
and other materials that add desirable properties to a range of advanced
applications including uses in cosmetics and personal care products, absorbent
materials, electromagnetic interference shielding, specialty coatings, and
material additives for industrial polymers, plastics and composites. NaturalNano
possesses broad intellectual property rights and proprietary know-how for
its comprehensive range of processes, compositions, and derivatives of halloysite
nanotubes.
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Cautionary Statement Regarding Forward-Looking
Statements
Certain statements included in this press release may constitute forward-looking
statements within the meaning of applicable securities laws. These statements
reflect what NaturalNano anticipates, expects, or believes may happen in the
future. NaturalNano's actual results could differ materially from the outcome
or circumstance expressed or implied by such forward-looking statements as
a result of a variety of factors including, but not limited to: NaturalNano's
ability to develop its technologies; the approval of NaturalNano's patent applications;
the successful implementation of NaturalNano's research and development programs;
the ability of NaturalNano to demonstrate the effectiveness of its technology;
the acceptance by the market of NaturalNano's technology and products incorporating
such technology, the ability of NaturalNano to effectively negotiate and enter
into contracts with third parties for the licensing of NaturalNano's technology;
competition; the ability of NaturalNano to raise capital to fund its operating
and research and development activities until it generates revenues sufficient
to do so; and the timing of projects and trends in future operating performance,
as well as other factors expressed from time to time in NaturalNano's periodic
filings with the Securities and Exchange Commission (the "SEC"). As a result,
this press release should be read in conjunction with NaturalNano's periodic
filings with the SEC which are incorporated herein by reference. The forward-looking
statements contained herein are made only as of the date of this press release,
and NaturalNano undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
Media Contacts:
NaturalNano, Inc.
Bobbi Drew
bobbi@NaturalNano.com
585-214-8172
Jennifer Gould
JGould@rubensteinpr.com
212-843-8037
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