LAS VEGAS, May 21, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Adama Technologies Corp. (OTCPINK:ADAC) announced today that they are in the process of bidding on new Triunion Pin contracts with the United States government. The Company is currently about midway through production of an existing government contract with this part and is currently bidding on several other contracts for this essential landing gear component. The Triunion Pin is a weight bearing, cylinder shaped, landing gear component that acts as the pivot point for the landing gear. The current contract that is in production is for 60 units.
Harold Tanner, President of Adama Technologies, commented, “The Triunion Pin is a part we are very familiar with and have a lot of experience manufacturing. We feel that our experience will be very helpful in earning us these additional contracts we are currently bidding.”
In the omnibus spending bill passed in March, Congress approved more than $650 billion in military spending. This bill directs more than $10 billion to build 90 Joint Strike Fighters and nearly $1.8 billion for 24 F/A-18 Super Hornets. The priority being placed on additional aviation assets has opened the door for many new government contracts.
Mr. Tanner continued, “Right now there is a tremendous opportunity in the government contract space, particularly for military defense contractors and contractors in the aerospace defense sector. This has opened the door for increased opportunity that will ultimately lead to increased revenues.”
The Company also stated that they are in the process of completing their annual audit and are working to have the completed 10K filed as quickly as possible.
The Company stated that they will continue to keep investors updated through continued press updates as well as through their social media outlets. The Company also remarked that work on a new corporate website had begun in earnest.
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About Adama Technologies Military Defense Operations
Adama Technologies completed the acquisition of Alpine Industries in November of 2016. Alpine Industries is a precision machining and aerospace manufacturing company. Since its inception in 1974, Alpine has manufactured several hundred aerospace landing gear components and other spare parts. Alpine continues to work as a US government contractor and currently holds over 15 US Military contracts with the majority of them with the US Air Force. Presently, Alpine manufactures such items as M1 Mine Clearing Blades, hypo-chlorination units, tow bridles, 60 ton jacks for the C5A, AIM-9 missile body trainers, numerous bolts and screws, drag links for the F-16 fighter planes, and many other landing gear parts. In addition to the US military, Alpine also manufactures parts for several private companies including parts for drilling components used in oil and water wells, roller-coasters, motorcycles, zip line parts, crash pads, and drilling carts. Contact Information: Address: 1000 N. Green Valley Suite 380 Henderson, NV 89074 Phone: (866) 859-8697 Website: www.AdamaTechnologies.com
Disclaimer This release contains forward-looking statements that are based on beliefs of Adama Technologies Corp. management and reflect Adama Technologies Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words "estimate," "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of Adama Technologies Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Adama Technologies Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company's filings with the SEC including 10K, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. There is no assurance Adama Technologies Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company's due diligence on the potential acquisition of oil and gas assets will be favorable nor that definitive terms can be negotiated. Information in this release includes representations from the private companies referred to which has not been independently verified by the company. A downturn in oil prices would affect the potential profitability of the proposed acquisition negatively.
