3-May-2010 Source: Quasar Aerospace Industries
JACKSONVILLE, FL, Apr 30, 2010 – Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP).Â Â Dean Bradley, the CEO of Quasar Aerospace Industries, Inc., announces that QASP, with two other partners, has acquired the rights to purchase $150+ million worth of helicopter spare parts for $15 million. These spare parts will be shipped from their present location to the Jacksonville, FL area and sold/distributed worldwide over the next 5-7 years. QASP will control 51% of the venture and recapture its $15 million investment plus interest prior to any distribution of profits. Our partners have worked for five years obtaining the US State Department approval which is now in hand.
The funding is in our bank for closing Acquisition #3, which will occur the 6th of May in our conference room at Herlong Airport. The effective date of our takeover is May 1st. The details and name will be disclosed in a PR that afternoon.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.