Trans-Pacific Aerospace Company, Inc. (“TPAC” or the “Company“) (OTCBB:TPAC)
is pleased to announce a buy-back program for the repurchase of common
shares presently in the public float. TPAC has effective as of today,
repurchased and retired 500 million common shares under this program and
intends to repurchase up to 1.8 billion total common shares.
Bill McKay, the CEO of TPAC stated: “Earlier this year we committed to
our shareholders that we would repurchase shares of TPAC common stock,
thereby reducing the float. This is one of several objectives that we
have laid out for TPAC and we are very optimistic that in the coming
weeks and months we will make good on other commitments made to our
shareholders, including purchase orders and acquisitions. We will
acquire as many common shares as possible, so as to obtain a more
manageable share structure and float and thereby truly reflect the value
of the Company. I would like to personally thank the shareholders who
have shown remarkable patience and faith in TPAC and our objectives. We
are optimistic that we will acquire more shares and when we do so, we
will announce the retirement of large blocks through future press
releases and/or Twitter posts. The Twitter account @TPACbearings is the
official social media site for TPAC. ”
About Trans-Pacific Aerospace
TPAC uses its proprietary aerospace bearing technologies at its facility
in China to manufacture and sell component parts for both new commercial
and general aviation aircraft and for spares for the existing commercial
fleet. The component parts are referred to as self-lubricating spherical
bearings and they help with several flight-critical tasks, including
aircraft flight controls and landing gears. TPAC is the first and only
manufacturer in China to qualify under SAE-AS81820 and 81934.
Forward-Looking Statements
This press release contains or incorporates by reference
"forward-looking statements" including certain information with respect
to plans and strategies of TPAC. For this purpose, any statements
contained herein or incorporated herein by references that are not
statements of historical fact may be deemed forward looking
statements. Without limiting the foregoing, the words "believes,"
"suggests," "anticipates," "plans," "expects," and similar expressions
are intended to identify forward-looking statements. There are a number
of events or actual results of TPAC operations that could differ
materially from those indicated by such forward looking statements.
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