MIAMI, Fla., Oct. 1, 2012 (GLOBE NEWSWIRE) -- Abakan Inc. (OTCQB:ABKI) ("Abakan") a nanotechnology materials company that designs, produces and has recently commenced sales of protective coatings for metal, metal formulations and advance energy management solutions, announced today that it has filed an application to list its common stock on the NASDAQ Capital Market. The NASDAQ listing application is subject to review and approval by NASDAQ's Listing Qualifications Department for compliance with all NASDAQ Capital Market Standards.
Robert Miller, Abakan's CEO, commented: "Abakan is ready to list on a larger, higher profile exchange and believes that NASDAQ is the right marketplace for our shares to trade given the focus on technology based companies. Listing on NASDAQ should enable us to broaden our investor reach, increase visibility in the investment community and add liquidity to our shares."
About Abakan Inc.
Abakan, Inc. is a publicly listed acquisition company that provides critical financial, management and intellectual support to innovative companies and technologies for realizing their true market potential. Abakan invests in companies that have developed transformational technologies on the cusp of commercialization. Abakan is the largest shareholder in MesoCoat and Powdermet, each of which is a nanotechnology material science company involved in technology development and commercialization. MesoCoat is focused on metal asset protection and life extension by providing advanced wear and corrosion solutions, while Powdermet is focused on metal formulations as well as advanced energy management solutions. MesoCoat was recently recognized by Forbes as one of 'The Most Promising American Companies' and was the highest ranked material science and nanotechnology company. MesoCoat is also the recipient of four prestigious R&D 100 awards, a Technology Innovation Program Award (TIP) for 100 year life coatings by the National Institute of Standards and Technology (NIST), two NorTech Innovation Awards for breakthrough materials and surface engineering solutions, and several other federal and state grants and awards. Powdermet is a nationally recognized nanotechnology and advanced materials research and development organization that has won approximately 100 federal and state awards, along with being a recipient of several technology innovation awards like R&D 100 and NorTech Innovation Award.
The Abakan, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=14954
Forward Looking Statements
A number of statements contained in this press release are forward-looking statements. These forward looking statements involve a number of risks and uncertainties including technological obsolescence, market acceptance of future products, competitive market conditions, NASDAQ approval for listing of our common stock on the NASDAQ Capital Market, and the sufficiency of capital resources. The actual results Abakan may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Abakan encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K and Form 10-Q. Abakan's public filings may be viewed at www.sec.gov.