SOURCE: IAHL Corporation

January 17, 2008 09:03 ET

IAHL Corporation Updates Its Acquisition of the Aircraft Manufacturer

CAPE CORAL, FL--(Marketwire - January 17, 2008) - IAHL Corporation (PINKSHEETS: IAHL) announced today that its corporate attorneys have completed its review of the contract for the previously announced acquisition of a major aircraft manufacturer and the company's President & CEO Mr. Peter Van Dyke has signed off on the contract.

The contract has been executed by Mr. Van Dyke and is awaiting the sellers to sign off on it; we anticipate this to occur today and at that point we will issue a statement immediately naming the acquisition and other pertinent information regarding this transaction.

This contract is for the aircraft manufacturer only as the second contract for the land and buildings/production facilities is still under review by our counsel; we also anticipate this contract to be executed this week.

"We are very pleased with the progress that has been made in such a short period of time on this acquisition and look forward to an expedited closing. This transaction has many advantages to the company -- first and foremost is the immediate multi-million dollars in revenues that it brings; secondly it gives the company access to a production facility to manufacture the current product line but also will enable the company to incorporate its Integrity Aircraft program without having to outsource any production/manufacturing of the Integrity," said Peter Van Dyke, President & CEO.

Mr. Van Dyke also stated, "We are issuing this release as it is extremely significant to the company and its shareholders to be fully updated on such matters that will have a major impact on their investments and company operations going forward."

About IAHL Corporation:

The company holds major proprietary and technological patents for certain aircraft that, once implemented, will astound the aircraft industry; the target market of the company is the under-served rural areas of the world. The company's current share structure is as follows:

Authorized Shares:                        70,000,000
Preferred Shares:                         20,000,000
Common Shares:                            50,000,000

The company does not intend to change the capital structure of the company in any fashion, except the possible reduction of authorized common shares to better reflect and bolster the true value of the company, its assets and business operations.

This press release does not constitute an offer of any securities for sale. This press 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. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Contact Information

  • IAHL Corporation
    Investor Relations
    Phone: 239-277-3883
    Fax: 239-283-4843