Asgard Holdings, Inc. (AGHG) Executes LOI with SuperCritical Thermal Systems, Inc.

ESCONDIDO, Calif. -- Asgard Holdings, Inc. (Pink Sheets:AGHG) announced today that it has executed a Letter of Intent to invest in the technology known as the SuperCritical Air Mobility Pack (SCAMP), which specializes in high tech cryogenic systems and insulation projects.

SCAMP provides breathing air and full body cooling for hazardous materials workers, firefighters, and industry. SCAMP solves the major, recognized problem of heat stress in workers in impermeable suits and/or hot environments.

Using cryogenic technology, SCAMP has reduced the weight of the breathing air supply while providing cooling at the same time. The conventional compressed air one hour duration SCBA system weighs 35 pounds. To obtain cooling, the worker must carry a portable cooling device weighing an additional 15-25 pounds for a total of 50-60 pounds. The SCAMP supplies a one hour breathing and cooling apparatus in a package weighing less than 30 pounds.

Virgil Williams, CEO of Asgard Holdings, Inc., states, "It is very exciting to find a company with these credentials and experience. Don Gier, CEO, holds a Ph.D from Iowa State University. Hal Gier, Technical Director, is a graduate engineer from CalTech and holds a Ph.D in Aerospace Engineering. They have been active in this technology for over 10 years and are ready to move forward to final certification and production.

"I have spent time with the principals in their corporate setting in Longmont, Colorado to the extent that I am very comfortable with their plan to bring this project to fruition. Mr. Gier presently holds 4 patents in this arena. Department of Transportation certification has been received and National Institute of Occupational Safety and Health (NIOSH) certification is in process."

Mr. Williams stated in closing, "Asgard (SYMBOL: AGHG) is equally impressed not only with the product but also with the end user customer support and monitoring. We look forward to working together. We will continue to provide updates as these very positive business matters unfold."

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission.