Business
Aerocast Announces $802,000 in Third Quarter Revenues, Enters into Listing and Financial Advisory Agreements, Grants Options
(via Thenewswire.ca)
About this update from Aero Energy Limited
[{"type":"text","content":"Aerocast Announces $802,000 in Third Quarter Revenues, Enters into Listing and Financial Advisory Agreements, Grants Options\n\n(via Thenewswire.ca)\nMarch 3 2009 Aerocast Inc. (\"Aerocast\" CNSX-A) announces that the company has SEDAR filed its third quarter unaudited interim financial statements and related management's discussion and analysis for the nine months ended December 31, 2008, which show that the company generated third quarter revenues of $802,131. The company's gross margins during this period totaled $224,451.\n\nAerocast also announces that it has entered into a listing engagement agreement with Small Cap Invest Ltd. of Frankfurt, Germany. Small Cap Invest has agreed to list Aerocast's shares on the Frankfurt Stock Exchange for a fee of $25,000, payable via the issuance of 500,000 common shares at a deemed price of $0.05 per share. The certificates for 250,000 of these shares shall be held in escrow pursuant to an escrow agreement, which provides that the 250,000 shares shall be released from escrow upon the Company closing a minimum $250,000 financing that has been facilitated by Small Cap Invest and if any shares remain in escrow after 24 months from the date of the escrow agreement, then the Company shall have the right to purchase such shares from Small Cap Invest at $0.05 per share. In addition, Aerocast has entered into a financial advisory agreement with Small Cap Invest whereby Small Cap Invest shall provide European financial advisory services to Aerocast for a fee of $US 3,000 per month. Small Cap Invest has also been granted an option to acquire up to 500,000 shares at $0.05 per share whereby one-half of the option vests immediately and one-half of the option shall vest upon Small Cap Invest having facilitated a minimum $250,000 financing into Aerocast. In addition, upon Small Cap Invest having facilitated a minimum $250,000 financing into Aerocast, Aerocast shall grant an additional option to Small Cap Invest acquire up to 250,000 common shares at an exercise price of $0.30 per share.\n\nAbout Small Cap Invest Ltd.\n\nSmall Cap Invest is a financial services provider for small and mid cap companies that focuses on discovering undervalued and promising growth companies which are either listed or seek to be listed on a European stock exchange.\n\nAbout Aerocast Inc.\n\nAerocast operates a high-growth s...