|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.0083 - 0.0083|
|52 Week Range||0.0036 - 0.0500|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
ST. JOHN'S, NL , July 15, 2019 /CNW/ - Bradley A. Chislett announced that on September 30, 2018 he acquired via private placement 23,684,211 units of Northstar Electronics Inc. ("Northstar") (NEIK). Each unit was comprised of a common share of Northstar and half of one warrant, with each whole warrant entitling the holder to acquire an additional common share for USD$0.05 until September 30, 2020 . The acquisition resulted in a holding of 18.5% of the issued and outstanding common shares of Northstar, which would increase to 25.4% if all of the acquired warrants are exercised.
Northstar is pleased to announce that it has signed an agreement with a global leader in the aerospace industry, to enable a cashless acquisition of worldwide rights for a family of single engine Turbo-Prop industrial aircraft. Northstar is now working with that company to secure the approval of this agreement for credit under international industrial offset commitments, and to make contractual arrangements for key technical support services as we prepare for production. To bring our new aircraft to market, Northstar is planning an international expansion through strategic regions and a comprehensive approach to manufacturing, sales, and support.
Northstar Electronics, Inc. (NEIK) is pleased to provide an update to its shareholders on a key milestone achieved by its subsidiary, Northstar Sealand Enterprises Ltd. (NSEL), on a major acquisition. As previously reported, NEIK and NSEL have been working closely with a major global Aerospace Company with the objective to acquire the worldwide rights and IP for a high-performance Turbo-Prop industrial aircraft. Recently, the Aerospace Company presented the main details of this complex transaction to the Canadian government’s Industry, Science and Education Department (ISED), where the plan was met with positive and enthusiastic feedback from the department’s representatives.