American Security Resources Corp. Inks Memorandum to Acquire Leitner-Wise Rifle Co.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 ), www.americansecurityresources.com, announced today that it has signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with principal shareholders and officers of Leitner-Wise Rifle Company (LWRC LWRC Lake Washington Rowing Club LWRC London Wheelchair Rugby Club (UK) LWRC Leitner-Wise Rifle Company LWRC Land Warfare Resource Corporation LWRC Land and Water Resources Council LWRC Lake Winnipeg Research Consortium, Inc. ) to acquire all the stock of LWRC. Leitner-Wise Rifle Co. Inc. Leitner-Wise Rifle Co. Inc. (www.leitner-wise.com) manufactures and markets innovative firearms products for military, paramilitary, police and commercial sale. LWRC's principal product, the LW15.499, is a groundbreaking, patented modification for the M-16 and AR-15 rifle. There are currently over 8,000,000 M-16s in service around the world. The LW15.499 conversion turns an M-16 into a fully automatic, durable and reliable 50 caliber rifle. This weapon has been through extensive testing by the U.S. military resulting in a $20,000,000 contract with a branch of the U.S. armed forces for 8,000 kits to upgrade M-16s. Testing continues with other branches of the military to address rapidly emerging threats faced by American forces. American Security Resources Corporation American Security Resources Corp. is a holding company actively seeking to acquire profitable, well-managed companies that provide products or services for Homeland Defense or national security. American Security Resources is under contract to acquire Rhode Island-based Systems Resource Management Inc. www.srminc.net , a defense IT and project management firm whose primary customer is the Naval Undersea Warfare Center The Naval Undersea Warfare Center (NUWC) is the United States Navy's full-spectrum research, development, test and evaluation, engineering and fleet support center for submarines, autonomous underwater systems, and offensive and defensive weapons systems associated with . 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 results will meet or exceed such expectations. |
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