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Nano Labs Announces Resignation of Dr. Victor Castano

DETROIT, MI -- (Marketwired) -- 03/05/14 -- Nano Labs Corp. (OTCQB: CTLE) announces that Dr. Victor Castano has resigned as Chairman, Member of the Board of Directors, and Chief Technology Officer of Nano Labs Corporation for personal reasons, effective March 4, 2014.

Nano Labs thanks Dr. Castano for his contributions to the Company and wishes him well with his future endeavors. Dr. Victor Castano's resignation is not the result of any disagreement with the Company on any matter relating to its operation, policies (including accounting or financial policies) or practices. Pursuant to Dr. Castano's resignation, he acknowledges that he does not have any claims against the Company upon his resignation.

The Board of Directors hereby ratifies, confirms and appoints Bernardo Camacho Chavarria as the Chairman of the Board of Directors. The company intends to appoint a new Chief Research and Development Officer in the near future, with several candidates already under review.

The company intends to further update shareholders in the coming days.

Respectfully on behalf of the Board,

Mr. Bernardo Camacho Chavarria
President, Nano Labs

About Nano Labs
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.

Bernardo Camacho Chavarria
1 (888) 806-2315

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