|Aerocast Announces Offering of $0.10 Unites|
June 11, 2012: Aerocast Inc. (CNSX: A; Frankfurt Stock Exchange: 0AE; www.aerocastinc.com)announces a private placement offering of up to 20,000,000 units of the company's securities at $0.10 per unit to raise proceeds of up to $2,000,000.00. Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant shall entitle the holder to purchase one common share at a price of $0.20 per share for a period of 24 months. Finder's fees may be payable in relation to this offering. Proceeds of this financing will be used for general working capital. The company's management belives that itf the full financing is raised in a timely fashion, then the company may have sufficient funds to become profitable and self-sustaining.
The company further announces that neither it nor its wholly owned subsidiary, Aerocast International Inc., are currently able to meet their respective obligations as they come due. Certain customers are paying some of the subsidiary's bills and the company is very grateful for this support.
In addition to the private placement offering, Aerocast management is actively looking for and reviewing strategic alternatives available to the company.
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About Aerocast Inc.
Aerocast operates a high‐growth sand casting foundry that produces complex aluminum and magnesium castings primarily for the aerospace industry. Aerocast quality systems have earned ISO 9001‐2008 and AS 9100B 2004 certifications as well as several NADCAP approvals for certain processes. Customers include Honeywell Aerospace, Hamilton Sundstrand, Sikorsky Aircraft and Shimadzu Precision Instruments. Aerocast is experiencing high demand for its products and has limited competition.
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