VANCOUVER, British Columbia, May 8, 2012 /PRNewswire/ --Northstar Electronics, Inc. (OTCBB - NEIK), which previously signed aLetter of Intentto 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 Sonaris 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.
