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Nano Labs Signs Agreement With CIMVA, The Advanced Materials Research Center, To Develop And Market Nanotechnologies

DETROIT, Aug. 30, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp . (OTCQB:CTLE) is pleased to announce the Company has signed a Non-Disclosure & Confidentiality Agreement with CIMVA (Advanced Materials Research Center) to review, identify, develop and market products based on the industrial application of nanotechnologies and advanced materials.

The Agreement will further Nano Labs' resources to develop its proprietary nanotechnology and manufacture and produce the Company's prototypes and products.

The Agreement allows both organizations to cooperatively identify specific joint research and commercial product projects, which will be subject to Specific Agreements outlining the purpose, activities, ownership, and the general rights and obligations of each party.

Each party will retain the copyrights and their respective industrial property rights for any future partnerships, and will outline any new ownership of copyright or industrial property rights generated, produced or resulting from the activities covered in the Specific Agreement(s).

"We are very excited to be working with this esteemed institution. CIMAV has a long history of success. Invention, innovation and commercialization are the heart and soul of this agreement. So much of science today is developed and commercialized on collaboration. Their resources - in terms of technology research infrastructure, human capital and client base - will allow us all to accomplish great things together," explains Mr. Bernardo Chavarria, President of Nano Labs.

About CIMAV

The CIMAV (Advanced Materials Research Center), participates greatly on three important activities for Mexico. 1. To generate or come up with original basic knowledge and spread it to the national and international scientific community; through worldwide known magazines in the materials, energy, and environmental sectors. 2. To generate human resources for a Master's Degree and PhD. Level in the materials, energy, and environmental sectors. 3. To transfer the generated knowledge in the organization to the different society sectors.

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