DETROIT, March 11, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp . (OTCQB:CTLE) is pleased to announce the Company has signed a General Agreement with CIATEQ, AC, Advanced Technology Center to develop and market solutions and products based on the industrial application of nanotechnologies. The General Agreement will further Nano Labs' resources to develop projects, manufacture and produce, the Company's proprietary nanotechnology prototypes and products. The General Agreement outlines how both organizations will cooperatively develop specific research and commercial product programs and projects which will be subject to Specific Agreements outlining the purpose, activities, ownership, and the general obligations of each party. The Specific Agreements may include any of the following activities: advisory and consulting, scientific research, technological development, engineering projects, training, and evaluation of technologies. In developing and implementing any future Specific Agreement(s), both organizations may negotiate jointly or separately, with other institutions, government departments and/or agencies, national and international, to obtain the necessary business resources to carry out the Specific Agreement(s). 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 organization. CIATEQ has a long history of success. Their resources – both in terms of technology and human capital – will allow us all to accomplish great things together. Invention and innovation is at the heart of this partnership. So much of science today is collaboration. By opening up development, knowledge can flow in multiple directions and become extremely effective in tackling some of the great challenges facing the world today." explains Dr. Victor Castano, Chief Innovations Officer of Nano Labs. "A cross-disciplinary, resource driven strategy with a common goal will allow us to achieve uncommon results. No one is as smart as all of us thinking and working together."
Currently, Nano Labs employs 4 full time employees at the CIATEQ facilities in Queretaro and 21 post grad employees under the direction of Dr.Victor Castano working at CIATEQ and Universities facilities throughout Mexico in cooperation with research Universities in the United States and Canada.About CIATEQ Centro de Investigaciones y Asistencia Técnica del Estado de Querétaro, CIATEQ, is an Advanced Technology Center, offering integral, innovative, practical and timely solutions to the manufacturing, oil, aeronautic industries and to those related to the water handling and distribution, integrating mechatronics technological specialties, measurement, monitoring and automated control systems, software development and advanced manufacturing. As a Public Research Center coordinated by the National Council of Science and Technology (CONACYT), we integrate into our Mission the responsibility to train high level human resources related with our technological specialties as well as to generate scientific knowledge through applied research. CIATEQ has been established 34 years, developed over 3,000 projects, has over 2,800 customers throughout the Republic of Mexico and over 100 customers in over 20 countries. Currently, CIATEQ operates from 7 sites encompassing 100 million square meters with over 500 people working on projects. For more information, please visit www.ciateq.mx. About Nano Labs Nano Labs Corp. (CTLE) is a nanotechnology 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 www.NanoLabs.us. The Nano Labs Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16293 Forward-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.
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