NSCIF - Nanalysis Scientific's subsidiary secures $160M service and maintenance contract with CATSA

Nanalysis Scientific (OTCQX:NSCIF) is rising 5.9% premarket on Thursday after the firm notifies that the company's wholly-owned subsidiary K'(Prime) Technologies has won a six year $160M service and maintenance contract with Canadian Air Transportation Security Authority (CATSA), which includes a gradual phase in period of approximately one year. These types of contracts are renewed for an additional five years, making it a potential 11 year recuring revenue opportunity, with inflation-based contractual price increases. The effective date of the executed contract is May 25, 2022 and it expires on May 31, 2028. KPrime has begun the phase in process for this project to airports across Canada, and the company anticipates the service coverage to be completed before the end of Q1, 2023.

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Nanalysis Scientific's subsidiary secures $160M service and maintenance contract with CATSA