SOURCE: Alas Aviation Corp.
LEMON GROVE, CA--(Marketwired - Jan 9, 2014) - Alas Aviation Corp., (OTCQB: ALAS) (the "Company" or "Alas"), on December 31, 2013, entered into a Share Exchange Agreement with OELC LLC ("OELC") and OLEC's wholly owned subsidiary Énergie, LLC ("Énergie" or the, "Company"). Following closing of the Share Exchange Agreement, Alas Aviation will hold 100% of the financial and governance rights of OELC and through its ownership of OELC and 100% of the operating subsidiary, Énergie. The closing of the Share Exchange Agreement is conditioned upon certain, limited customary representations and warranties. Following the closing of the Share Exchange Agreement, Alas intends to change its name to Excellux, Inc. and continue Énergie's historical businesses and proposed businesses as a wholly owned subsidiary.
ABOUT ÉNERGIE: Énergie was founded in 2001 and focuses on providing specialized interior lighting solutions to the architecture and interior design markets. The Company is headquartered in Wheat Ridge, Colorado and also maintains a production and assembly facility in Zeeland, Michigan. Énergie's business is based upon the Company's partnership with various European suppliers of innovative highly efficient LED lighting technology. The Company is capitalizing on these European lighting companies' desire to penetrate the North American markets by solving many of the problems these manufacturers encounter when approaching the market. These obstacles include designs that do not meet UL/CUL standards and building codes, the need to provide appropriate marketing and product information and specifications, among others. Énergie's business strategy is to enter into exclusive sales agreements with European suppliers that have unique lighting products; and to bridge the divide between North American architects' and designers' desired access to innovative European products and European manufacturers' desire to find a cost effective way to penetrate the North American markets for their products. These European partners are continually developing new products and Énergie generally negotiates the right of first refusal to launch such products in North America.
Safe Harbor Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks, including those set forth in the Company's current reports filed with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the Company undertakes no obligation to update such statements.