Quasar Aerospace Industries, Inc. Announces Stock Repurchase Program
JACKSONVILLE, FL, Aug 04, 2009 (MARKETWIRE via COMTEX) -- Quasar Aerospace
Industries, Inc. (PINKSHEETS: QASP) (formerly) Equus Resources, Inc. (EQUR).
Quasar Aerospace, announced that at a regularly scheduled meeting of its board of
directors today, the board authorized upon completion of funding of previous
announced acquisitions Quasar will begin to repurchase up to ten percent (10 %)
of the companies issued and outstanding shares at the companies sole discretion.
There will be no fixed termination date for the repurchase program and can be
expanded to up to twenty percent (20%) at the discretion of the management
committee.
"We believe a stock repurchase program is a way to optimize the value to our
shareholders," said Dean Bradley, Chief executive Officer, Quasar. "Our share
repurchase program will allow us to return cash to our shareholders, while at the
same time provide the flexibility to aggressively invest in the business for
additional growth and differentiation, which we believe to be good for both our
customers and our shareholders."
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
Equus Resources, Inc. and Quasar Aerospace Industries, Inc. under take no
obligation to update such statements.
Contacts:
Dean Bradley
904-612-8485
deanbrad@bellsouth.net
Scott Martin
770-521-9410
scott.martin@jpccapital.com
SOURCE: Quasar Aerospace Industries, Inc.
mailto:deanbrad@bellsouth.net
mailto:scott.martin@jpccapital.com
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