Nanotech Sciences Corp. Announces Qualifying Transaction

TORONTO, ONTARIO, May 11 (MARKET WIRE) --
Nanotech Sciences Corp. ("Nanotech") (TSX VENTURE: NAN.P) is pleased to
announce that it entered into an agreement with Courtland Capital Corp.
("Courtland") on May 8, 2009 (the "Agreement"), in respect of a proposed
"qualifying transaction" for the purposes of the policies of the TSX
Venture Exchange (the "Exchange").

Under the Agreement it is proposed that Nanotech, a capital pool company
listed on the Exchange, will subscribe for a minimum of 3,000,000 units
(the "Units") of Courtland at a price of $0.10 per Unit or $300,000 in
the aggregate (the "Proposed Transaction"). Each Unit shall consist of
one common share in the capital of Courtland (a "Common Share") and three
quarters (3/4) of one common share purchase warrant (each whole warrant a
"Warrant") of Courtland. Each Warrant shall entitle the holder to acquire
one additional Common Share at an exercise price of $0.20 per Common
Share, at any time on or before the close of business on the date that is
two years from the closing date of the Proposed Transaction.

Nanotech has also agreed, under the terms of the Agreement, to advance
$25,000 (the "Advance") to Courtland to cover transactional expenses
pending completion of the Proposed Transaction. The Advance is repayable
under certain circumstances if the Proposed Transaction is not completed.

Following closing of the Proposed Transaction, Nanotech intends to delist
from the Exchange, commence winding up proceedings, and distribute the
Units to its shareholders on a pro rata basis. Units of Courtland
distributed to current holders of escrowed shares of Nanotech will be
subject to the same escrow provisions as their current shares of Nanotech.

Courtland is a capital pool company listed on the Exchange and is in the
process of completing its own qualifying transaction with ForceLogix Inc.
("ForceLogix"). For more information with respect to Courtland and its
qualifying transaction with ForceLogix, please review the Filing
Statement dated August 29, 2008 and related press releases posted on the
System for Electronic Data Analysis and Retrieval (SEDAR) at
www.sedar.com.

ForceLogix is a privately held corporation existing under the laws of
Nevada with its corporate offices located in Libertyville, Illinois.
ForceLogix develops and commercializes technologies in the field of sales
performance management and process optimization. ForceLogix provides
software-as-a-service as well as technical and consulting services to
clients to address sale performance management matters in a range of
industries; specifically focusing on life sciences/pharmaceutical, high
technology and financial services.

ForceLogix has developed several new technologies which it believes will
change the nature of sales effectiveness and sales performance
management. By combining objective system driven data with subjective,
field observation data, ForceLogix has devised a proprietary measurement
and evaluation application. ForceLogix has started implementation of its
combined technologies and measurement and evaluation application for its
first customers. For more information with respect to ForceLogix, please
visit its website at www.forcelogix.com.

Courtland is expected to file an amended filing statement on SEDAR,
updating information on its qualifying transaction with ForceLogix.
Nanotech's shares have been halted from trading on the Exchange and will
not resume trading until such time as Courtland files an amended filing
statement on SEDAR.

Completion of the transaction is subject to a number of conditions,
including but not limited to, Exchange acceptance and if applicable
pursuant to Exchange requirements, majority of the minority shareholder
approval. Where applicable, the transaction cannot close until the
required shareholder approval is obtained. There can be no assurance that
the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management
information circular or filing statement to be prepared in connection
with the transaction, any information released or received with respect
to the transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of a capital pool company should
be considered highly speculative.

This news release may contain forward-looking statements that are based
on Nanotech's expectations, estimates and projections regarding its
business and the economic environment in which it operates. These
statements are not guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. Therefore, actual
outcomes and results may differ materially from those expressed in these
forward-looking statements and readers should not place undue reliance on
such statements. Statements speak only as of the date on which they are
made, and Nanotech undertakes no obligation to update them publicly to
reflect new information or the occurrence of future events or
circumstances.

The TSX Venture Exchange Inc. has in no way passed
upon the merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.

Contacts:
Nanotech Sciences Corp.
Scott Walters
President & Chief Executive Officer
(416) 369-0456

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