Nano Labs Corp. (OTCBB:CTLE) acquired the assets of Nano Coating Technology from Victor Castrano for $70.7 million on October 10, 2012. Nano Labs Corp will issue 101 million shares as purchase consideration. As per the terms of the agreement, Victor Castrano will be appointed as a Director and Chief Technological and Scientific Officer of Nano Labs and Jose Manuel Flores Hernandez will resign as an Officer and Director. Hart & Trinen, LLP acted as legal advisor for Nano Labs.

Nano Labs Corp. (OTCBB:CTLE) completed the acquisition of the assets of Nano Coating Technology from Victor Castrano on October 10, 2012.


Nano Labs Corp. (OTCBB:CTLE) cancelled the acquisition of Nano Coating Technology from Victor Castrano on March 4, 2014. Victor Castrano will return 101 million shares issued as purchase consideration and will resign from the position of Chief Scientific and Technological Officer and a member of the Board of Directors of Nano Labs. The transaction is terminated as the Board of Directors of Nano Labs determined that the transaction is not in the best interest of Nano Labs and its shareholders.