IAHL Corporation Updates Its Acquisition of the Aircraft Manufacturer
17 Gennaio 2008 - 3:03PM
Marketwired
CAPE CORAL, FL announced today that its corporate attorneys have
completed its review of the contract for the previously announced
acquisition of a major aircraft manufacturer and the company's
President & CEO Mr. Peter Van Dyke has signed off on the
contract.
The contract has been executed by Mr. Van Dyke and is awaiting
the sellers to sign off on it; we anticipate this to occur today
and at that point we will issue a statement immediately naming the
acquisition and other pertinent information regarding this
transaction.
This contract is for the aircraft manufacturer only as the
second contract for the land and buildings/production facilities is
still under review by our counsel; we also anticipate this contract
to be executed this week.
"We are very pleased with the progress that has been made in
such a short period of time on this acquisition and look forward to
an expedited closing. This transaction has many advantages to the
company -- first and foremost is the immediate multi-million
dollars in revenues that it brings; secondly it gives the company
access to a production facility to manufacture the current product
line but also will enable the company to incorporate its Integrity
Aircraft program without having to outsource any
production/manufacturing of the Integrity," said Peter Van Dyke,
President & CEO.
Mr. Van Dyke also stated, "We are issuing this release as it is
extremely significant to the company and its shareholders to be
fully updated on such matters that will have a major impact on
their investments and company operations going forward."
About IAHL Corporation:
The company holds major proprietary and technological patents
for certain aircraft that, once implemented, will astound the
aircraft industry; the target market of the company is the
under-served rural areas of the world. The company's current share
structure is as follows:
Authorized Shares: 70,000,000
Preferred Shares: 20,000,000
Common Shares: 50,000,000
The company does not intend to change the capital structure of
the company in any fashion, except the possible reduction of
authorized common shares to better reflect and bolster the true
value of the company, its assets and business operations.
This press release does not constitute an offer of any
securities for sale. This press release contains certain
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 involve certain risks
and uncertainties that could cause actual results to differ,
including, without limitation, the company's limited operating
history and history of losses, the inability to successfully obtain
further funding, the inability to raise capital on terms acceptable
to the company, the inability to compete effectively in the
marketplace, the inability to complete the proposed acquisition and
such other risks that could cause the actual results to differ
materially from those contained in the company's projections or
forward-looking statements. All forward-looking statements in this
press release are based on information available to the company as
of the date hereof, and the company undertakes no obligation to
update forward-looking statements to reflect events or
circumstances occurring after the date of this press release.
IAHL Corporation Investor Relations Phone: 239-277-3883 Fax:
239-283-4843
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