Northstar Electronics Announces Termination of Sale of NNL
26 Noviembre 2012 - 11:26AM
Marketwired
Northstar Electronics, Inc. (OTCQB: NEIK) has received notice that
the intended purchase of its subsidiary, Northstar Network Ltd
(NNL) has been canceled by Empower Technologies Corporation. It is
the Company's opinion that it was in compliance with all provisions
of the Definitive Share Purchase Agreement including loan
agreements. Previous unrelated loan settlements regarding ongoing
debt obligations of NNL remain in place.
Northstar is making plans to increase support of NNL's
activities to carry out an existing long-term contract and to
pursue additional project opportunities with a major
contractor.
Northstar through its subsidiary Echotec Sonar continues its
development and planned sales of the 3-D Sonar product.
About Northstar: Northstar Electronics, Inc., is a holding
company with executive management specialized in design
engineering, defense, advanced systems, security, sonar, systems
integration, and prototyping fields. Northstar is actively pursuing
opportunities through acquisition, joint venture, or merger to
increase revenues and expand its base of subsidiaries.
http://www.northstarelectronics.com or via new phone number
604-5581199
For further information contact Rich Kaiser, Investor Relations,
YES INTERNATIONAL, yes@yesinternational.com, 800-631-8127
Safe Harbor Statement This press release contains
forward-looking statements. These forward-looking statements are
based on the current plans and expectations of management and are
subject to a number of uncertainties and risks that could
significantly affect the company's current plans and expectations,
as well as its future results of operations and financial
condition. Such risks include, but are not limited to, the effects
of competition with existing enterprises and/or new entrants into
the company's markets and industries, fluctuations in currency
exchange rates, domestic and global economic conditions generally,
the company's ability to obtain financing and attract suitable
personnel where required to fully implement its business plan, the
adoption and acceptance by the marketplace of the company's
technologies and product and service offerings, the possibility of
new technologies that are competitive with the company's planned
product and service offerings and the effects of future political
and economic developments both in the United States and abroad,
among others. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of information, future events or otherwise.
For further information contact Rich Kaiser Investor Relations
YES INTERNATIONAL yes@yesinternational.com 800-631-8127
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