NEW YORK, Dec. 2, 2004 (PRIMEZONE) -- Advance Nanotech, Inc. (formerly Artwork & Beyond Inc.), a Colorado corporation, today announced that pursuant to majority shareholder approval at a meeting held on November 14, 2004, that the name of the company has changed to Advance Nanotech Inc, and begins trading today under that name with the new ticker symbol (OTCBB:AVNAE). On October 1, 2004, the Company announced the completion of the acquisition of Advance Nanotech Holdings, Inc., a Delaware corporation. As part of the acquisition of Advance Nanotech Holdings, Inc., the company appointed a new board of directors, and changed its offices to New York.
Advance Nanotech, Inc., ("Advance") commercializes innovative nanotechnology. Operating in three areas, electronics, biopharma and materials, Advance leverages relationships with financial and development resources to enable a product focused, fast-track commercialization of nanotechnology.
Advance has established relationships with academic institutions throughout the world that are at the forefront of nanotechnology research and development. Advance's objective is to invest in patented innovation to bridge early stage product development with end markets.
Each of Advance's subsidiaries is developing products for a target market worth at least $200 million, following a path towards commercialization, which does not exceed five years, and employs an intellectual property strategy which is grounded in one or more foundation patent applications.
Advance's unique business model offers the maximum potential to deliver significant growth to its shareholders and broad portfolio of companies.
Advance is working to develop new products, for new markets, in order to set new expectations.
This release includes forward-looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein.