NANOPHASE TECHNOLOGIES CORPORATION (OTCMKTS:NANX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Entry into a Material Definitive Agreement
On March 14, 2017, Nanophase Technologies Corporation (the “Company”) entered into a new Building Lease (the “Lease”), dated as of March 13, 2017, with the Village of Burr Ridge (“Landlord”) for the Company’s 20,000 square foot production facility located in Burr Ridge, Illinois. The term of the Lease will begin when the existing lease between the parties expires on September 15, 2017 and will continue through September 15, 2021. The Company has agreed to pay the Landlord an annual base rent amount of $176,382 commencing on September 15, 2017, payable in equal monthly installments and subject to an annual increase of at least 3%. In addition, the Company has the right to extend the term of the Lease for three consecutive 12-month periods by providing written notice of its intent to exercise the option to extend the Lease at least six months prior to the expiration of the term of the Lease.
About NANOPHASE TECHNOLOGIES CORPORATION (OTCMKTS:NANX)
Nanophase Technologies Corporation is a materials and applications developer and commercial manufacturer with an integrated family of materials technologies. The Company produces engineered nano and sub-micron materials for use in a range of markets, including personal care, including sunscreens, architectural coatings, industrial coating applications, abrasion-resistant additives, plastics additives, medical diagnostics, energy, and a range of surface finishing technologies (polishing) applications, including optics. The technologies are designed to offer nanomaterial solutions for a targeted market or a specific customer application. The Company’s nanomaterials platform includes over two distinct manufacturing processes (Plasma Vapor Synthesis (PVS) and NanoArc Synthesis (NAS)) to make nanomaterials or nanoparticles. The Company’s products include Aluminum Oxide, Antimony Tin Oxide, Bismuth Oxide, Cerium Oxide, Iron Oxide and Zinc Oxide. NANOPHASE TECHNOLOGIES CORPORATION (OTCMKTS:NANX) Recent Trading Information
NANOPHASE TECHNOLOGIES CORPORATION (OTCMKTS:NANX) closed its last trading session down -0.030 at 0.650 with 5,564 shares trading hands.