Nanophase Receives Funding Under Paycheck Protection Program
NANOPHASE TECHS CORP (NANX)
US:NASDAQ Investor Relations:
nanophase.com/investors-section/investors
Company Research
Source: GlobeNewswire
ROMEOVILLE, Ill., April 21, 2020 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX), a leader in minerals-based personal care ingredients and formulated products for protecting skin from environmental aggressors, such as UV light and pollution, today reported that it received funding in the form of a loan under the Paycheck Protection Program (the “PPP”), under Division A, Title I of Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which was enacted on March 27, 2020. “We are happy to announce that our request for funding under the PPP was granted, being funded on April 17, 2020. The amount of the loan was $0.95 million. We believe that we will incur costs over the next eight weeks amounting to at least 80% of the loan balance, which we expect to be forgiven under the terms of the PPP,” stated Jess Jankowski, President and CEO. “We plan on continuing operations, taking necessary precautions to protect our employees, their families, and our communi
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