General Automotive Announces the Engagement of Aegis Capital Corp.
March 08 2012 - 9:36AM
General Automotive Company (OTCBB:GNAU), a North American provider
of parts, accessories and advanced technology for the automotive
industry is pleased to announce that it has engaged Aegis Capital
Corp, a registered broker/dealer, as a placement agent and
financial advisor to the Company. The engagement agreement states
that Aegis Capital Corp. will provide advisory services and
placement of up to $1,000,000 in Debt and/or Equity financing.
General Automotive's CEO and President, Dan Valladao, commented,
"We are extremely excited to be working with Aegis Capital towards
financing some of the new growth initiatives for the company. We
believe with Aegis as our Capital partner we can continue to expand
our distribution and manufacturing opportunities worldwide."
About General Automotive Company
General Automotive Company provides original equipment and
aftermarket automotive parts and automotive technology in the
United States and internationally. It focuses on automotive parts
sales and distribution through its subsidiary, OE Source L.C.
General Automotive is also a partnered in GreenCell Inc., a joint
venture with SenCer Inc., a New York based ceramic technology
company. GreenCell, Inc., has created "Ultra-Temp," a proprietary
technology and a potential game changer for the manufacturing of
multiple automotive products including oxygen sensors, brakes and
SOFC fuel cells for powering automobiles. General Automotive
Company ("GAC") is also focused on expanding its operating growth
platform through multiple and ongoing acquisitions of successful
automotive parts companies. General Automotive Company is based in
Orlando, Florida.
About Aegis
Aegis Capital has been in business for the past 27 years and
maintains a conflict free service platform catering to the needs of
private clients, institutions and corporations. Aegis Capital
Corporation was founded in 1984 by the current CEO and Chairman.
Aegis's origins were based on servicing the specific needs of an
extremely affluent customer base. Today, we have become a premiere
full-service investment banking firm with eleven locations and
employees stretching from Florida to Rochester, NY. We have clients
in all 50 states and overseas. Aegis has been able to bring quality
service through its clearing relationships of Penson and JP
Morgan.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are based on current plans and
expectations of management and are subject to a number of
uncertainties and risks that could significantly affect the
Company's current plans and expectations, as well as future results
of operations and financial condition. Specifically, the Company's
ability to raise additional capital, execute its business plan and
strategy, sustain or increase gross margins, achieve profitability
and build shareholder value are forward-looking statements. A more
extensive listing of risks and factors that may affect the
Company's business prospects and cause actual results to differ
materially from those described in the forward-looking statements
can be found in the reports and other documents filed by the
Company with the Securities and Exchange Commission. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT: Paula Bausman
Investor Relations
407-363-5633
pbausman@generalautomotive.com