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DETROIT, April 5, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. (OTCQB:CTLE) is pleased to announce today the Company has signed a Letter of Intent with SIS Consulting of Rome, Italy for the manufacturing and distribution of the Company's nano paint and coating products under licensing arrangements to be negotiated between the parties.
The Letter of Intent outlines the establishment of a strategic alliance for manufacturing and distribution of the Company's proprietary "nPaint" coatings under an industrial licensing agreement targeting certain defense applications as identified by SIS' defense industry clients.
Nano Labs and SIS are collaborating to facilitate the exchange of technical information necessary for the manufacturing of the targeted products and terms of the sales and licensing agreement.
Mr. Bernardo Chavarria, President of Nano Labs comments that, "The Company is pleased to be partnering with SIS to collaborate on technology applications targeting the defense industry, which further broadens the scope of industries that enjoy benefits from our core nano paint coating technology." Mr. Chavarria stated, "The defense industry represents tremendous growth opportunities for Nano Labs and we look forward to working with SIS to develop this important market niche."
Mr. Carlo Rossato, Managing Partner of SIS commented, "We are pleased to have the opportunity to advance the technologies underlying our defense products as we work with Nano Labs and their nPaint products."
About SIS Consulting Srl Founded in 2007, SIS is focused on finding new technology solutions for its important customers in the local and national civil and military sectors. In a time of growing technology developments, SIS Consulting is founded on professional, competent and trustworthy relationships with both its strategic partners and end customers. SIS customers include Directorate General for Military Health, Military Polyclinic in Rome Celio, Military Centre of Forensic Medicine Cecchignola, Navy - Body Circles, Local Health Authority RM / E, The Hospital Santo Spirito in Saxia, Ophthalmic Hospital Centre and the Villa Bethany Hospital.
About Nano Labs Nano Labs Corp. (CTLE) is a nanotechnology research and development company which began during October 2012, but is able to access resources that encompass nearly 30 years of research and development in nanotechnology as well as hundreds of peer-reviewed and published research papers and other scholarly material. The Company's research and development team of scientists, designers, and engineers is focused on creating a portfolio of advanced products that could provide benefits to a variety of industries including: (i) consumer products, (ii) energy, (iii) materials, and (iv) healthcare. Through the use and integration of proprietary nano compounds, our goal is to evolve common products into new, revolutionary products in order to make the world a better place. Nano Labs shares are traded on the OTC Bulletin Board in the United States under the ticker CTLE. For more information, please visit
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http://www.globenewswire.com/newsroom/prs/?pkgid=16293Forward looking statements This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings with the OTC Bulletin Board or as a result of other factors.