Quasar Aerospace Industries, Inc. CEO Clarifies Mineseeker Deal
April 21 2010 - 12:56PM
Marketwired
Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)
Dean Bradley, the CEO of Quasar Aerospace Industries, Inc. is
pleased to share the latest developments for Mineseeker Overseas
Operations, Ltd. The following is a joint statement by Dean Bradley
and Michael Kendrick, the founder and chairman of Mineseeker.
Mineseeker and Quasar Complete
Negotiations
An agreement for Quasar Aerospace Industries, Inc. to take a
controlling share in Mineseeker Operations has been reached. The
negotiations have suffered delay, due in some part, to the closing
of much of Europe's airspace, which meant that the parties were
unable to meet to discuss final terms. However, this has now been
completed remotely and the contractual documents will be signed
within a few days.
The deal involves Quasar securing a controlling share in the
for-profit company, Mineseeker Operations (www.mineseeker.com).
The not-for-profit Mineseeker Foundation (www.mineseeker.org)
will continue with its awareness and victim support programs. As
part of the deal, The Mineseeker Foundation will be licensing
Mineseeker brands to Mineseeker Operations which will enable it to
exploit the intellectual property built up by the Foundation over
the last decade.
Mineseeker Operations will be showcasing its products to the
humanitarian de-mining community in Croatia on April 27th - 29th at
a convention that will be attended by NGO's, funders, affected
Governments and supply companies.
A formal press announcement will be made on completion.
A rumor has been spread by people who do not seem to bother with
the truth or getting the facts straight that QASP is dealing with
the Mineseeker Foundation which is totally incorrect. QASP is
acquiring a 51% interest in Mineseeker Overseas Operation, Ltd.,
which is incorporated in BVI.
This for-profit corporation is currently negotiating hundreds of
millions of dollars of contracts with companies in the Balkans and
Africa. The particulars of these contracts will be shared at an
appropriate time. QASP has invested $847,000 in Mineseeker
Operations to date and will be advancing an additional $160,000
this week which will take our investment to just over
$1,000,000.
Last week the representatives of the Irish corporation, their
attorney, Quasar's management team and their two attorneys met in
Freeport, Grand Bahama to iron out last minute details of our long
term funding. We anticipate closing this financing and our first
five acquisitions in a matter of days now.
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. undertakes no obligation to
update such statements.
Contact: Quasar Aerospace Industries, Inc.
IR@quasaraerospace.net
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