Exhibit 99.1
Utilicraft - CapNet Sign $260 Million Investment Banking Engagement Agreement
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ALBUQUERQUE, N.M., November 7, 2007 (Business Wire) -- Utilicraft Aerospace
Industries, Inc. (OTC BB:UITA.OB) announced today that the company has entered
into an Investment banking engagement agreement for a two year period with
CapNet Securities Corporation ("CapNet") as its exclusive financial consultant,
placement Agent and finder in connection with various financing strategies.
The initial (Stage 1) contemplated equity financing is planned at Ten Million
Dollars ($10 million) which will be used for the completion of the Utilicraft
Prototype Aircraft now under construction by Metalcraft Technologies.
The secondary (Stage 2) contemplated equity financing is planned at Two-Hundred
and Fifty Million Dollars ($250,000,000) which will be used to complete FAA
Certification and commence initial production of the Utilicraft Freight Feeder
Aircraft.
We are looking forward to working with Utilicraft on financing a new plane which
meets the specific needs of the air-freight business. These niche opportunities
we feel, represent an excellent opportunity for venture capital positioned in
the lower middle markets. (Xx Xxxx., CEO -CapNet Securities Corporation)
The agreement will be conducted on a best-efforts basis and may be terminated by
either party after six months.
About CAPNET Securities Corporation:
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CapNet Securities Corporation is an FINRA member broker/dealer, registered in 35
states, specializing in investment banking services. CapNet Securities provides
a custom approach to investment banking, adding significant value to
entrepreneur and investor alike, while also operating as a traditional full
service brokerage firm. CapNet provides a wide range of financial solutions to
meet specific client needs, be it an institution which needs expertise in the
fixed income market, or a small to medium enterprise requiring investment
banking services.
For more information on CapNet Securities Corporations visit their website at:
xxx.xxxxxxxxxxxxxxxx.xxx
About Utilicraft Aerospace Industries, Inc.:
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Utilicraft Aerospace Industries, Inc. was formed to implement a system solution
to the current problem of declining capacity in the short haul (or feeder) route
segments of the air cargo and overnight express companies.
The FF-1080 Freight Feeder aircraft is a new fuel-efficient cost-effective, air
vehicle which is the result of Utilicraft's extensive research and development.
The FF-1080 is revolutionary because of it's capability to carry standard
industry air containers on short-to-medium range/medium density routes combined
with the aircraft's integrated air cargo information system for the freight feed
market. The FF-1080 an all aluminum twin-engine, high-wing, un-pressurized,
fixed gear, single pilot capable, turboprop aircraft, specifically designed as a
utility air freight transport system. The aircraft satisfies an industry
recognized need to cost effectively feed containerized air cargo to the major
hubs of the scheduled passenger carriers and the overnight express airlines.
The aircraft is also designed for short take-off and landing (STOL) capability.
This feature makes the FF-1080 the only short-haul, heavy-lift containerized
Feeder aircraft capable of cost-effectively transporting ten revenue tons over
two thousand nautical miles from airfields with less than 3,500 feet of runway,
expanding air cargo capacity to many smaller cities and airports worldwide.
The Company has also developed the Automatic Flat Rate System (AFRS) Patent, a
Company owned system that will allow the FF-1080 aircraft to operate with
substantially more fuel efficiency than any other freight feeder aircraft in the
world, saving the operator substantial fuel operating cost, and consequently
reducing pollution as the aircraft operates in the freight feed system - making
it environmentally friendly. See more on the FF-1080 aircraft and the Company's
patents at xxx.xxxxxxxxxx.xxx and on Utilicraft Green Technology at
xxxx://xxx.xxxxxxxxxx.xxx/xxxxx_xxxx/xxxxx.xxxx.
Forward Looking Statements
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This press release contains "forward-looking" statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
in this press release involve risks and uncertainties and reflect the company's
current views with respect to possible future events. Readers are cautioned that
no forward-looking statement can be guaranteed and actual results or events may
materially differ from those projected or anticipated. In particular, the
following factors, among others, could cause actual results or events to differ
materially from those described in the forward-looking statements: the company's
ability to obtain and fulfill contracts for the sale of products, protect
intellectual property rights and manage future growth; market acceptance of
future products; product supplier delays; design and engineering certification
delays or denials; and the introduction of similar products by competitors. Any
forward-looking statement made in this press release is made as of the date of
this press release, and the company assumes no obligation to update any such
forward-looking statement, whether as a result of new information, future
events, or otherwise. Forward-looking statements in this press release should be
evaluated together with the many uncertainties that affect the company's
business.
For more information on Utilicraft Aerospace Industries, Inc., please visit
xxx.xxxxxxxxxx.xxx.
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For Investor Relations contact:
Email Investor Relations at xxxx@xxxxxxxxxx.xxx
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For Utilicraft Aerospace Industries, Inc. Product Information contact:
Xxxxx Xxxxx - VP Marketing, Utilicraft Aerospace Industries Inc.
(000) 000-0000
xxxx@xxxxxxxxxx.xxx
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