| March 6, 2013 - 2:07 PM EST |
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The LOI Focus is the Proprietary Nano Thermal Insulation Paint Coating for Sale in the Residential Sector Which Enables Comfortable Living in Hot Climates
DETROIT, March 6, 2013 (GLOBE NEWSWIRE) -- Nano Labs Corp. (OTCQB:CTLE) is pleased to announce the Company has signed a Letter of Intent with AkroStar Peintures of Morocco for the commercialization of the Company's proprietary nano thermal insulation paint coating, NC2012.
The Company is currently negotiating the non-exclusive rights to market, distribute and generally commercialize the nano coating products developed by the Company in the continent of Africa.
"The benefits of the thermal insulation and UV refraction to improve residential living conditions in hot and dry countries is of particular interest and we look forward to a successful and mutually beneficial commercial partnership," states Mr. Bernardo Chavarria, President of Nano Labs.
"Further to our findings at The Africa Summit last month in London, the commercial opportunities and development potential across the African continent is tremendous. With the growth in housing developments, along with the demand for improvements in energy efficiencies as known issues that are very important and timely in Africa right now – our technologies can help play a significant and important role. Our nano coatings represent only one area of interest and we are very excited about the broader opportunities for Nano Labs' suite of product lines in Africa."
As stated in the Company press release of February 13, 2013, "Dr. Castano Reports on The Economist Group Africa Summit 2013 Conference" the Company primary focus will be introducing the nano coating product to the residential sector followed by the introduction of the Company's agricultural products to assist in the growing demand for self-sustainable agricultural development and farming practices.
"We look forward to continuing to update our shareholders in a timely manner," concludes Mr. Chavarria.
About Nano Labs' NC2012 Nano Paint
NC2012 is an insulating paint coating nanotechnology highlighted by its very low thermal conductivity. NC2012 reduces transmission of temperatures through the coated elements. It has a coefficient of thermal conductivity of K = 0,059 BTU / HR., which ensures coverage of a temperature spread of up to 18 ° Celsius, depending on the material to which the coating is applied. Even under the most extreme sunlight conditions, the coating can create a comfortable living environment.
NC2012 benefits include:
- Fire retardant, providing fire and heat protection at temperatures of up to 1,500 degrees Celsius
- Waterproof protectant
- Protects from ultraviolet (UV) and infrared rays (IR)
- Protects from acid rain
- Prevents the formation of fungi and bacteria
- Auto-wash properties with rain, keeping a shimmering white color
- Non- flammable
- Environmentally friendly
- Reduces corrosion and oxidation
- Can be applied on almost any surface
About Nano Labs
Nano Labs Corp. (OTCQB: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.
CONTACT: Nano Labs Corp.
Bernardo Camacho Chavarria
President
1 (888) 806-2315
Source: Globe Newswire (March 6, 2013 - 2:07 PM EST)
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