Nano Labs Signs Agreement With Fintegra to Form New Nano Coatings Company
December 17 2013 - 11:57AM
Marketwired
Nano Labs Signs Agreement With Fintegra to Form New Nano Coatings
Company
DETROIT, MI--(Marketwired - Dec 17, 2013) - Nano Labs Corp.
(OTCQB: CTLE) ("Nano Labs" or "The Company") is pleased to announce
it has signed a Letter of Intent (LOI) Agreement with RSD
Investment S. de R.L de C.V. ("Fintegra") with respect to the
parties forming a joint venture company to exploit Nano Labs'
proprietary nano coatings technology.
The LOI Agreement outlines the principal terms of the
partnership between Nano Labs and Fintegra, and sets the groundwork
to complete formal contracts in connection with the development,
manufacturing, distribution, and business development of Nano Labs'
nano coatings and paint technology.
The binding LOI is structured whereby Nano Labs Corp. (a
Colorado Corporation) (OTCQB: CTLE) will be 50% equity owner of the
newly formed company, Nano Coatings Technology Corporation (a
Nevada, USA company) and whereby Fintegra will own a 50%
equity.
The LOI Agreement sets the framework for the companies to
complete a formal "Joint Venture and Financing Business Agreement"
(JVFBA). Both companies are currently completing due diligence to
outline marketing and sales budgets, product order financing,
production manufacturing facilities, and financials and financing.
Further topics covered in these workshops include: product efficacy
testing and qualifications, current order and production
commitments, product pricing structures, and international
licensing and royalty opportunities and obligations.
Conditional of the JVFBA, Fintegra has committed to invest up to
US $2,000,000 with the intention of launching a manufacturing
facility to produce 400,000 liters per month, and a marketing and
sales development team.
Conditional of the JVFBA, Nano labs has undertaken to support a
comprehensive process to reinvigorate the marketing of the Company
and its nano coatings product lines, and specifically launch
supporting nano coating brand(s), marketing, business development
and sales programs.
The newly formed company, Nano Coatings Technology Corp., will
cooperatively then identify and develop the markets for novel nano
coatings products that may generate new revenue from marketing
products, including but not limited to: insecticides coatings,
water repellant coatings, thermal and fire retardant products, and
intumescent coatings.
"Both companies are currently working hard to deliver final
documents and complete the joint venture," Mr. Bernardo Camacho
Chavarria, President of Nano Labs stated. "The board and management
of Nano Labs unanimously support the planned joint venture between
our two companies. The new Nano Coatings Company will have
Fintegra's outstanding financial and sales team in place which will
perfectly augment our nano coating portfolio and our technical
team. The new company will now have the financial capability to
systematically advance these products to market so that their true
market potential can be realized. We strongly recommend to our
shareholders to support this joint venture as we believe it will
fast-track our route to market and provide long-term, sustainable
growth for our company."
About Fintegra.
Public administration of capital is the ideal place to carry out
successful project financing. We are a group of professionals who
specialize in various areas, to plan strategies and define the best
combination of financial structure to complete project financing.
Our clients are Municipalities, State Governments, Public
Universities, Hospitals, Pension Funds, Planning Institutes, Pemex
and Power Utilities. For more information, please visit
www.fintegra.com.mx/fintegra
About Nano Labs Corp.
Nano Labs Corp. (the "Company") (OTCQB: CTLE) is a
nanotechnology research and development 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.
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 additional information: Please contact: Mr. Bernardo Camacho
Chavarria President Nano Labs 1 (888) 806-2315