Altair Nanotechnologies Announces Additional Extension of Share Subscription Agreement With Canon Investment Holdings

Altair Nanotechnologies Inc. ALTI today announced it has agreed to a third amendment to the Share Subscription Agreement initially entered into with Canon Investment Holdings Limited on September 20, 2010 and subsequently amended on February 16, 2011 and May 17, 2011. This Third Amendment to the SSA extends the End Date to, and sets the Closing Date as June 20, 2011, but keeps in place Altairnano's ability to pursue other alternatives and to terminate the SSA at any time with no penalty. The SSA calls for Canon to acquire newly issued shares of the Company's common stock valued at $57.6 million, resulting in a 51 percent ownership on a fully diluted basis immediately upon closing.