VANCOUVER, British Columbia,
May 8, 2012 /PRNewswire/
-- Northstar Electronics, Inc. (OTCBB – NEIK), which
previously signed a Letter of Intent to acquire Echotec
Sonar Corp., is announcing a two week extension, to May 23rd, of the closing of the acquisition due
to additional time needed for Canadian legal requirements.
The company will release further information related to closing
when available.
About Echotec:
Echotec Sonar Corporation is a private Canadian company.
The founders have over eighty combined man-years of expertise
developing high frequency sonar products within the defense and
commercial fishing industries. Echotec Sonar is a world
leader in this field through experience, technical acumen, and a
team diversity, which understands the needs of many defense and
commercial entities. http://www.echotec.ca
About Northstar:
Northstar Electronics, Inc., is a holding company with executive
management specialized in design engineering, defense, advanced
systems, security, sonar, systems integration, and prototyping
fields. Northstar is actively pursuing opportunities through
acquisition, joint venture, or merger to increase revenues and
expand its base of subsidiaries.
For further information contact Rich
Kaiser, Investor Relations, YES INTERNATIONAL,
yes@yesinternational.com, 800-631-8127
Safe Harbor Statement
This press release contains forward-looking statements. These
forward-looking statements are based on the current plans and
expectations of management and are subject to a number of
uncertainties and risks that could significantly affect the
company's current plans and expectations, as well as its future
results of operations and financial condition. Such risks include,
but are not limited to, the effects of competition with existing
enterprises and/or new entrants into the company's markets and
industries, fluctuations in currency exchange rates, domestic and
global economic conditions generally, the company's ability to
obtain financing and attract suitable personnel where required to
fully implement its business plan, the adoption and acceptance by
the marketplace of the company's technologies and product and
service offerings, the possibility of new technologies that are
competitive with the company's planned product and service
offerings and the effects of future political and economic
developments both in the United
States and abroad, among others. The company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of information, future events or
otherwise.
SOURCE Northstar Electronics, Inc.