Altair Nanotechnologies Reports Receiving a Nasdaq Non-Compliance Letter and Secures a New Working Capital Loan

Altair Nanotechnologies Reports Receiving a Nasdaq Non-Compliance Letter and 
Secures a New Working Capital Loan 
RENO, NV -- (Marketwired) -- 05/27/14 --  Altair Nanotechnologies,
Inc. ("Altair") (NASDAQ: ALTI), reports the Company received a
non-compliance letter from the Nasdaq Stock Market ("Nasdaq") and has
secured a new working capital loan. 
On May 20, 2014, the Company received a letter from Nasdaq indicating
that the Company was not in compliance with the continuous listing
rules due to its failure to file its Quarterly Report on Form 10-Q
for the quarter ended March 31, 2014 (the "Quarterly Report") on a
timely basis. Under the rules, the Company has until June 16, 2014 to
submit a plan to regain compliance and if the plan is accepted, the
Company could be granted up to 180 calendar days from the date of its
initial filing delinquency, or until October 13, 2014, to regain
compliance.  
The Company expects to file its Annual Report and Quarterly Report as
soon as practical and expects to submit a plan to regain compliance
within the timelines prescribed by the letter and Nasdaq rules. 
On April 30, 2014, Northern Altair Nanotechnologies Co., Limited (the
"Company"), an indirect subsidiary of Altair Nanotechnologies, Inc.,
entered into, and closed, a financing under a Working Capital Loan
Contract and related documents with the Bank of Handan Co., Ltd.,
Wu'an Sub-branch with respect to RMB 130,000,000 or approximately USD
$21,090,200 loan. The interest rate on this loan is fixed at 9%, with
interest payable monthly in arrears. The maturity date is April 28,
2015, at which time all outstanding principal and unpaid interest is
due and payable. The loan is a guaranteed (credit/guarantee) loan and
the guarantee manner is joint and several liability. 
Proceeds of the Loan will be used for general working capital
requirements.  
About Altair Nanotechnologies Inc.
 Altair is a leading provider of
high-power, energy storage systems for the electric grid, industrial
equipment and transportation markets. The company's lithium titanate
technology is built on a proprietary nano-scale processing technology
that creates high-power, rapid-charging battery systems with
industry-leading performance and cycle life. Altair is headquartered
in Anderson, Indiana and ma
intains operations in Reno, Nevada;
Zhuhai, China; and Wu'an, China. For additional information, please
visit: www.altairnano.com. 
Forward-Looking Statements
 This report may contain forward-looking
statements as well as historical information. Forward-looking
statements, which are included in accordance with the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995,
may involve risks, uncertainties and other factors that may cause
Altair's actual results and performance in future periods to be
materially different from any future results or performance suggested
by the forward-looking statements in this report. These risks include
the risk that Altair will be unable to file the Annual Report or
Quarterly Report prior to the submission of its plan to Nasdaq or
within any extension period, that Altair will fail to appoint an
audit committee member within the cure period prescribed by Nasdaq,
that whether or not Altair is able to file the Annual Report within
any required Nasdaq period, that Altair will be delisted from Nasdaq
due to the subjective concerns of Nasdaq regarding its financial
strength, ability to comply with the Nasdaq rules on a prospective
basis or other reasons. Other risks are identified in Altair's most
recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q
filed with the SEC. Such forward-looking statements speak only as of
the date of this release. Altair expressly disclaims any obligation
to update or revise any forward-looking statements found herein to
reflect any changes in Altair expectations or results or any change
in events.  
For Additional Information: 
Investors
Tony Luo
tluo@altairnano.com
775.858.3726 
 
 
Press spacebar to pause and continue. Press esc to stop.