TEL-AVIV, Israel, April 14, 2015 /PRNewswire/ --
Blackbird International Corporation (OTCBB: BBRD), a global
leader in renewable sea wave energy technology (WERPO), is pleased
to announce that it will initiate a planned share buyback program
of its common stock from the open market up to 7 million
shares.
Mr. Shmuel Ovadia, Director and
inventor of BBRD's technology stated: "We believe the common shares
of BBRD are very valuable and this share buyback program will not
only strengthen the company's capital structure, but ultimately
increase the value of the shares to our loyal shareholders. This
repurchase program demonstrates our commitment to building
long-term shareholder value and further shows our confidence in the
growth potential of WERPO. Given the strong demand for WERPO's
technology and the expansion of our brand, we see tremendous
opportunities ahead."
The share repurchases will be made from time to time over the
next 6 months at the Company's discretion. The repurchase program
may be suspended or discontinued at any time.
About Blackbird International Corporation:
Blackbird International Corporation (http://www.werpo.us) is the
sole shareholder of Wave Electricity Renewal Power Ocean Ltd
(WERPO).
About WERPO sea wave energy technology (BBRD):
WERPO, having received the rights for all of SDE Ltd.'s
technology, property, know-how, IP (patents, et. al.), contracts
and subsidiaries, is able to promote its sea wave energy solution
around the world.
WERPO's unique technology is based on the utilization of sea
waves' rise and fall to yield hydraulic pressure that produces
electricity, while exploiting the full potential of wave speed,
height, depth and currents beneath the surface of the water. This
technology was chosen as number one in its field by an independent
team of scientists from PesWiki and also as one of the top 100
renewable energies.
The Israeli company with its proven technology has several
projects around the world with government entities as well as with
the private sector. It has established 11 joint ventures with local
partners in 9 different countries including a second project in
China.
Forward-Looking Statements:
This news release contains "forward-looking statements," as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the
future.
For further information please contact:
Maximum Performance Advisors, Inc.
+1-858-381-4677
SOURCE Blackbird International Corporation