CirTran Announces $1 Million Investment by Private California Company.SALT LAKE CITY -- CirTran Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CIRT CIRT Computer Incident Response Team CIRT Critical Incident Response Team CIRT Camara Nacional de La Industria de Radio y Television (Mexican Association of Broadcasters) CIRT Central Institute of Road Transport ), a full-service contract manufacturer of IT, consumer and consumer electronics products, today announced that a $1 million investment in the company has been made by a private California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). company. Iehab J. Hawatmeh, CirTran's founder and president, said that ANAHOP, an Anaheim, Calif.-based company headed by Albert Hagar Albert Hagar (1827 – September 14 1924) was a Canadian merchant and politician. Born in North Plantagenet Township, Upper Canada (now Ontario), the son of a former Montreal merchant, he was educated in Vermont and became a farmer, merchant and lumber dealer and owned a , has contracted to purchase 14,285,715 shares of CirTran's restricted common stock for $.07 per share without any registration rights. The initial payment of $500,000 was made to CirTran on May 24, he said, with two additional payments of $250,000 each scheduled to be completed on or before June 2 and June 30, 2006, respectively. In addition, Hawatmeh said that ANAHOP's principals will receive warrants to purchase additional shares of CirTran common stock, up to 15 million shares, at an exercise price of $0.15 per share, up to 5 million shares at $0.25 per share, and up to 10 million shares at an exercise price of $0.50 per share. "CirTran's management team, board and employees in the U.S. and China welcome this investment by ANAHOP," Hawatmeh said. "It is rewarding and encouraging when knowledgeable business investors, including Albert Hagar, Fadi Nora and their ANAHOP team, show faith in the solid footing and growth potential of your organization." Speaking for ANAHOP, Hagar said his investment group "believes in CirTran -- both in the short term and in the future. "CirTran has a strong management team, a viable and exciting strategic plan in place and being executed, and growing business opportunities addressed by that plan in the U.S. and in Asia," said Hagar. "ANAHOP believes in and shares CirTran's excitement about the future, and looks forward to a strong return on this investment." About CirTran Corp. Founded in 1993, CirTran Corp. (www.CirTran.com) is a premier international full-service contract manufacturer. Headquartered in Salt Lake City, its ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000-certified, non-captive 40,000-square-foot manufacturing facility is the largest in the Intermountain in·ter·moun·tain adj. Located between mountains or mountain systems, especially lying between the Rocky Mountains and the Sierra Nevada or Cascade Range in the western United States. Region, providing "just-in-time" inventory management techniques designed to minimize an OEM's investment in component inventories, personnel and related facilities while reducing costs and ensuring speedy time-to-market. In 1998, CirTran acquired Racore Technology (www.racore.com), founded in 1983 and reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. as Racore Technology Corp. in 1997. In 2004, it formed CirTran-Asia as a high-volume manufacturing arm and wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. with its principal office in ShenZhen, China. CirTran-Asia operates in three primary business segments: high-volume electronics, fitness equipment and household products manufacturing, focusing on the multibillion dollar direct response industry. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. All trademarks are properties of their respective owners. |
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