(via Thenewswire.ca)
March 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.
Aerocast 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.
About Small Cap Invest Ltd.
Small 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.
About Aerocast Inc.
Aerocast operates a high-growth sand-casting foundry that produces complex aluminum and magnesium castings primarily for the aerospace industry. Customers include Honeywell Aerospace, Hamilton Sundstrand and Shimadzu Precision Instruments. Aerocast is experiencing high demand for its products and has limited competition. Our company's senior management team has over 110 years combined experience in the aerospace foundry industry.
Aerocast shares trade on the Canadian National Stock Exchange (CNSX) under the symbol ‘A'.
For more information, contact Robert Jamieson Sr., at Tel. (602) 309-1177 and e-mail bob.jamieson@aerocastinc.com, or visit our website at www.aerocastinc.com.
On Behalf of the Board of Directors,
Aerocast Inc.
Per:
"Robert Jamieson"
President and Director
Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Not for Distribution in the United States or to U.S. Persons.
If you would like to receive regular updates on Aerocast please send your email request to info@aerocastinc.com.
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