TRANS-PACIFIC AEROSPACE Announces Successful Negot
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Posted On: 02/20/2018 9:05:17 AM
TRANS-PACIFIC AEROSPACE Announces Successful Negotiation of Debt Structure to Defer Payment Due Dates until July, 2018.
SAN MARINO, Calif., Feb. 20, 2018 /PRNewswire/ -- Trans-Pacific Aerospace (TPAC) (OTC: TPAC) announces the successful conclusion of negotiations aimed at deferring the due date for all convertible debt until July 2018. No outstanding obligations of the Company are now due prior to July 2018.
Bill McKay, CEO of TPAC stated: "We are very pleased to have been able to work with our lenders in order to defer the due dates for these obligations. We are hopeful and optimistic that TPAC will be in a position during the next few months to be able to repay these obligations through money raised in our ICO, rather than have the obligations convert into shares, thus creating a dilution of the stock. This deferral is part of our strategy to reduce and bring the share structure under greater control through loan repayment and share repurchase."
About Trans-Pacific Aerospace:
TPAC is developing green energy ventures in Europe and Africa through public and private and ICO ventures. TPAC has been instrumental in designing and manufacturing leading-edge green, ebikes, and utility vehicles and is leveraging that knowledge by importing these vehicles into North America, Europe, and Africa through public and private ventures. TPAC also designs and manufactures aerospace spherical bearings and is the only so approved manufacturer in China.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements involving a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "intends, "plans," "should," "seeks," or other variations or negatives thereof, or by discussions of strategies, plans or intentions. Our forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions and beliefs that, for many reasons, could cause our actual results to differ materially from those expected or implied by our forward-looking statements.
SAN MARINO, Calif., Feb. 20, 2018 /PRNewswire/ -- Trans-Pacific Aerospace (TPAC) (OTC: TPAC) announces the successful conclusion of negotiations aimed at deferring the due date for all convertible debt until July 2018. No outstanding obligations of the Company are now due prior to July 2018.
Bill McKay, CEO of TPAC stated: "We are very pleased to have been able to work with our lenders in order to defer the due dates for these obligations. We are hopeful and optimistic that TPAC will be in a position during the next few months to be able to repay these obligations through money raised in our ICO, rather than have the obligations convert into shares, thus creating a dilution of the stock. This deferral is part of our strategy to reduce and bring the share structure under greater control through loan repayment and share repurchase."
About Trans-Pacific Aerospace:
TPAC is developing green energy ventures in Europe and Africa through public and private and ICO ventures. TPAC has been instrumental in designing and manufacturing leading-edge green, ebikes, and utility vehicles and is leveraging that knowledge by importing these vehicles into North America, Europe, and Africa through public and private ventures. TPAC also designs and manufactures aerospace spherical bearings and is the only so approved manufacturer in China.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements involving a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "intends, "plans," "should," "seeks," or other variations or negatives thereof, or by discussions of strategies, plans or intentions. Our forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions and beliefs that, for many reasons, could cause our actual results to differ materially from those expected or implied by our forward-looking statements.
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