SOURCE: Quasar Aerospace Industries, Inc.

August 04, 2009 13:42 ET

Quasar Aerospace Industries, Inc. Announces Stock Repurchase Program

JACKSONVILLE, FL--(Marketwire - August 4, 2009) - Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) (formerly) Equus Resources, Inc. (EQUR).

Quasar Aerospace, announced that at a regularly scheduled meeting of its board of directors today, the board authorized upon completion of funding of previous announced acquisitions Quasar will begin to repurchase up to ten percent (10 %) of the companies issued and outstanding shares at the companies sole discretion. There will be no fixed termination date for the repurchase program and can be expanded to up to twenty percent (20%) at the discretion of the management committee.

"We believe a stock repurchase program is a way to optimize the value to our shareholders," said Dean Bradley, Chief executive Officer, Quasar. "Our share repurchase program will allow us to return cash to our shareholders, while at the same time provide the flexibility to aggressively invest in the business for additional growth and differentiation, which we believe to be good for both our customers and our shareholders."

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. 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 Equus Resources, Inc. and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.

Contact Information