Quasar Aerospace Industries, Inc. CEO Announces Increase in the Corporation's Authorized Shares
Market Wire "US Press Releases "
JACKSONVILLE, FL -- (MARKET WIRE) -- 02/09/10 --
Quasar Aerospace Industries, Inc.
(PINKSHEETS: QASP) -- Dean Bradley, the CEO of Quasar Aerospace Industries,
Inc. hereby informs the public that the Board of Directors of the
corporation has approved unanimously a resolution increasing the number of
Authorized Shares (A/S) of common stock from 750,000,000 to 1,500,000,000.
The officers have filed Amended and Restated Articles of Incorporation with
the Secretary of State for Colorado effecting this change.
The reason for this change is that the terms of the funding of the balance
of our $350,000,000 financing requires us to issue Class B non-voting
shares equal to forty percent of the total outstanding common stock to the
lender.
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.
Contact:
Quasar Aerospace Industries, Inc.
IR@quasaraerospace.net
