Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Nano Labs Shareholder Update

Abstract:
Nano Labs Corp. (OTCQB: CTLE) is pleased to provide the following update to shareholders regarding the Company direction and vision for 2014.

Nano Labs Shareholder Update

Detroit, MI | Posted on March 8th, 2014

Dear Shareholders,
Over the past 18 months the company has worked with Dr. Castano, our team of researchers, designers, and engineers on creating a portfolio of advanced nano technology that will provide benefits to a variety of industries including: (i) consumer products, (ii) energy, (iii) materials, and (iv) healthcare.

Since entering into an Asset Purchase Agreement with Dr. Victor Castano on October 10, 2012 the company has followed Dr. Castano's lead and filed Intellectual Patents after reviewing several of Dr. Castano's publications. The first product identified by the company to take to market was the Nano Coatings technology.

The Nano Coatings were produced in the laboratory environment and tested under ASTM and Underwriters Laboratory protocol by several testing facilities. The company has also approached several manufactures to produce the product under license over the past 18 months. However, the company experienced consistent problems with the manufacturing of the Nano Coatings as it applies to developing several other coatings applications for uses in the Nano Nail Polish and LED system.

The Board of Directors has determined that the outstanding manufacturing issues to be resolved with the coatings technology were extensive and problematic, and it is in the best interest of the company to pursue our other opportunities such as Polec Industries and industry sectors not related to the Nano Coatings at this time.

The Board of Directors agreed that the consummation of the Asset Purchase Agreement is not in the best interests of the Company or its shareholders in light of certain difficulties pertaining to the intellectual property, testing, and the production of the Nano Coating Technology and other products provided by Dr. Castano using his Nano Coating Technology.

The Company has determined and agreed with Dr. Castano that the Asset Purchase Agreement should be rescinded (the "Rescission") and that all right, title and interest in and to the Nano Coating Technology and products publications be returned to Dr. Castano. Dr. Castano has accepted to rescind the Asset Purchase Agreement and return 101 million common shares of Nano labs Corp to the Company for cancelation.

The Rescission Agreement was signed on March 4th, 2014 with Dr. Castano, and the Company received the resignation of Dr. Victor Castano as Chairman and Chief Technology Officer on the same day.

We continue to follow our core strategy of developing a diversified investment of nanotechnologies for our shareholders in Nano Labs. The Company will continue negotiations with Polec Industries and other potential opportunities currently under review. The Company is also in the process of interviewing several potential high-level candidates to replace Dr. Castano as Chief Research and Innovations Officer of Nano Labs and continue move the company in the direction to generate revenues in 2014.
We are working to create products and materials that come with the satisfying investment benefit of making our industries stronger, our economies healthier, and our environment safer. The company plans to update our shareholders in the weeks to come as to the direction the company will take in 2014.

Respectfully on behalf of the Board,
Mr. Bernardo Camacho Chavarria
President, Nano Labs

####

About Nano Labs Corp.
Nano Labs Corp. (CTLE) is a nanotechnology company whose 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.

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.

For more information, please click here

Contacts:
Bernardo Camacho Chavarria
President
1 (888) 806-2315

Copyright © Nano Labs Corp.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Stressed Out: Research Sheds New Light on Why Rechargeable Batteries Fail October 1st, 2014

New Absorber Will Lead to Better Biosensor: Biosensors are more sensitive and able to detect smaller changes in the environment October 1st, 2014

Graphene chips are close to significant commercialization October 1st, 2014

Production of Filters for Separation of Water from Petroleum Products in Iran October 1st, 2014

Investments/IPO's/Splits

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

Nanomedicine

New Absorber Will Lead to Better Biosensor: Biosensors are more sensitive and able to detect smaller changes in the environment October 1st, 2014

Speed at its limits September 30th, 2014

Ad-REIC vaccine: A magic bullet for cancer treatment September 30th, 2014

New Topical Hemostatic Agent: Neutral Self-Assembling Peptide Hydrogel September 30th, 2014

Materials/Metamaterials

Rice launches Center for Quantum Materials: RCQM will immerse global visitors in cross-disciplinary research September 30th, 2014

How things coil: Researchers discover that simulation technology designed for Hollywood can be used as a predictive tool for understanding fundamental engineering problems September 29th, 2014

Iranian Scientists Determine Grain Size, Minimize Time of Nanocomposite Synthesis September 29th, 2014

Nanoparticles Used to Improve Quality of Bone Cement September 29th, 2014

Announcements

Stressed Out: Research Sheds New Light on Why Rechargeable Batteries Fail October 1st, 2014

New Absorber Will Lead to Better Biosensor: Biosensors are more sensitive and able to detect smaller changes in the environment October 1st, 2014

Graphene chips are close to significant commercialization October 1st, 2014

Production of Filters for Separation of Water from Petroleum Products in Iran October 1st, 2014

Appointments/Promotions/New hires/Resignations/Deaths

NREL Announces New Center Directors to lead R&D, Analysis Efforts September 30th, 2014

Jeff Andreson to Join Nanometrics as Chief Financial Officer September 4th, 2014

New Vice President Takes Helm at CNSE CMOST: Catherine Gilbert To Lead CNSE Children’s Museum of Science and Technology Through Expansion And Relocation August 29th, 2014

Nanometrics CFO to Resign for New Job Opportunity August 8th, 2014

Energy

New Absorber Will Lead to Better Biosensor: Biosensors are more sensitive and able to detect smaller changes in the environment October 1st, 2014

Production of Filters for Separation of Water from Petroleum Products in Iran October 1st, 2014

Production of Anticorrosive Chromate Nanocoatings in Iran September 27th, 2014

Solar cell compound probed under pressure September 25th, 2014

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE