Nano Labs Appoints Mr. Mark Sternberg To The Board Of Advisors

DETROIT, April 29, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp . (OTCQB:CTLE), a nanotechnology research and development company focused on creating a portfolio of advanced products in the consumer, energy, materials and healthcare industries, is pleased to announce today that Mr. Mark Sternberg has joined Nano Labs' Board of Advisors.

Mr. Sternberg has an extensive business background including IP management, mergers & acquisitions, complex business transactions, licensing agreements and strategic business development.

Mr. Sternberg has successfully leveraged his manufacturing, management, and sales experience in nanotechnology, specifically nanomaterial abrasive products. He is currently the Director of Strategic Business Development for MTI Holdings, a Ft. Washington, PA company, providing consulting specializing in functional nanomaterial applications. Clients include large multi-national corporations and private companies.

Prior to joining MTI, Mr. Sternberg was the National Sales Manager for Films of Saint-Gobain Abrasives (SGA), Worcester, MA. SGA, a world leader in abrasive products and is part of the Saint-Gobain Group with annual revenues exceeding 42 billion euro in 2011. With SGA, his responsibilities included the sales and marketing strategy of precision nanomaterial lapping and finishing coated abrasive films and the management of a large sales force and distribution network, who handled products ranging from grinding wheels to nanomaterial precision films.

Prior to his appointment with SGA, Mr. Sternberg was the CEO of Moyco Precision Abrasives, a manufacturer of lapping films and micro-finishing films until the business was successfully acquired by Saint-Gobain Abrasives in 2008.

Mr. Sternberg received his MBA in Finance from Temple University and his BA from Emory University.

In addition to joining the Company's Advisory Board, Mr. Sternberg has entered into an agreement with Nano Labs whereby he has been granted 500,000 compensation warrants that may be exercised to purchase common shares of the Company over a 2 year period at a price of $0.40 for business development and strategic consulting services.