BASF sues Nanophase over exclusivity breach; Nanophase files counterclaim for declaratory judgment

SOLESENCE, INC.

BASF filed complaint in NJ Superior Court alleging breach of exclusivity provisions in Zinc Oxide Supply Agreement.
Nanophase filed declaratory judgment action in Illinois court, seeking clarification that exclusivity does not cover Solésence products.
Management believes BASF claims are without merit and expects to prevail; seeks to negotiate resolution.
CEO states Solésence IP is exclusively owned and not impacted by BASF complaint; growth potential unencumbered.

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