ARSC to Acquire Mag-Wind Vertical Axis Wind Turbine Technology and Manufacturing Company.HOUSTON -- American Security Resources Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARSC ARSC Arctic Region Supercomputing Center ARSC Association for Recorded Sound Collections ARSC Accounting and Review Services Committee ARSC Aircraft Repair and Supply Center (USCG) ARSC Arizona Remote Sensing Center ) announced today that it has executed Letters of Intent to acquire majority control of Mag-Wind Company LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (www.mag-wind.com) which holds exclusive world wide rights to develop and market the Mag-Wind magnetically levitated, patent protected, vertical axis wind turbine, and to acquire majority control of VAWT VAWT Vertical-Axis Wind Turbine Manufacturing Company (VAWT) which holds exclusive Mag-Wind manufacturing rights for North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Bob Farr, President of ARSC, said "We are excited about acquiring these two companies. Mag-Wind anticipates marketing later this summer into the largest untapped vertical axis wind turbine market, the residential market, which is also the target market for our HydraStax[R] fuel cell product. VAWT Manufacturing has the ability to produce at one location the larger Noble wind turbine for us in addition to the Mag-Wind turbine." Farr continued, "We are working on acquisition funding using industrial development bonds which will be very beneficial to us and our shareholders as it is completely non-dilutive and has very favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. terms." American Security Resources Corporation ARSC is a holding company actively seeking to acquire companies and technologies that will advance the development of alternative energies. ARSC, through its Hydra Fuel Cell subsidiary, is developing high volume, mass producible hydrogen fuel cells. Its American Hydrogen Corp. subsidiary is developing a method to inexpensively formulate hydrogen from ammonia. For more information, please see: www.americansecurityresources.com Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This news release contains certain "forward looking statements" within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations. |
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