CASG SUMMARY
LATEST INFO FROM STOCKHOUSE:
CA$G chose this particular US Auditor because they did last years audit on SL Venures (Food Design Corp)
Also, they chose an American auditor because in the US, audit firms are help liable for the accuracy of information, however in Canada they require that the client sign a disclaimer stating that their audit is based only on the accuracy of information provided. It seems to be more investigative in the US rather than reportive in Canada.
Moving to a more senior exchange will take many months due to applications, share price, and appropriate timing.
Audit will be completed any day now. The Aditors are waiting for one more signature from one of the principals related to SL Ventures. This is rapidly forthcoming, and may have happened today. Also CA$G have been given approx. 6-8 more questions to answer for the auditors, which CA$G feels are "givens" but formality requires the information to be provided.... Full Disclosure! A couple of examples of these questions... (1) The Auditors are contacting CA$G's client in Delaware to verify the current lease of 2 Monitor Jets. (2) The Auditors are trying to determine (within the Aerospace Industry the "Write Down" formula to use for the tooling equipment used to make the Windeagle. They feel that it has little to no resale value, and CA$G is educating them on the fact that this type of tooling equipment is very resaleable, if not verging on priceless.
The US NAVY is very anxious to put in their order for 26 (twenty six) Monitor Jets, and there are also many other countries, whose Military would place orders yesterday (DO THE MATH!!!). The delay in taking these orders is due to penalty clauses in most of these purchase contracts. Delivery must be met or the penalties are not pretty. CA$G will take these orders soon, but first they need to ensure that Parts supply, manpower, facilities, electronics testing, etc. are in Rock Solid, before they commit to any delivery dates, that they must adhere to.
CA$G has a meeting with the US NAVY on the 20th of July (this month). It is critical for CA$G to have the audit complete by this date, because a fully disclosed company is required for background checks from both the Military and the FBI. Which will be done without question.
The National Research Council is going to establish a "Manufacturing Centre of Excellence" and is very keen on having this centre located close to CA$G. This is because CA$G is a very reputable company, who works with the newest composite materials. They will likely be the only company working with these materials into the next Century. This is very advance material and technology, and CA$G is highly regarded by the National Research Council, therefore the NRC is waiting to see where CA$G will open it's next facility. This will very likely be in Quebec at St. Hubert......
SUMMARY OF NEWS ITEMS
Thursday, June 24, 1999
CANADIAN AEROSPACE GROUP LAUNCHES PANDA AIRCRAFT IN SOUTH AMERICA WITH US $58 MILLION ORDER FROM BRAZIL- SECOND YEAR PRODUCTION NOW ASSURED
Burlington, Ontario (BUSINESS WIRE)-JUNE 24, 1999 – The Canadian Aerospace Group International Inc., (CASG – OTCBB), continued to gain altitude on the announcement of a firm order for 15 Twin turboprop Panda Aircraft and spares. The sale is to a Brazilian transport business consortium in Sao Paulo and comprises 7 float-equipped models and 8 standard utility configuration aeroplanes.
The aircraft will be used domestically to haul passengers and time sensitive freight such as medical supplies, fresh food and other perishables into the huge regions across the Amazon Valley away from the more populated and well-serviced city centers. Current road and river transportation there is very slow and dangerous due to piracy, bad weather, road washouts etc. Further announcements are expected shortly by the Brazilian firm concerning route structures, tariffs, and operational schedules. The customer has requested that their name be kept confidential until a formal in country launch ceremony is held.
This order is a culmination of negotiations and evaluation of the aircraft and business opportunity that began in January 1998 on the Team Canada mission to South America. CASG Technical representatives will travel to China shortly to discuss airframe production allocation and timing. The customer expects to take delivery of the first float equipped Panda by mid 2000.
CASG President Phil Nelson said the order was most significant as the first in South America for the Panda, and negotiations are underway in five other countries there presently. The Ministry of International Trade and officials at various Canadian Embassies are assisting CASG in the promotion of its products. " Confirmed orders have now exceeded our forecast for the 1999-2000 period and production will be increased accordingly."
Confirmed orders for the Panda and Windeagle products now total more than $110 million USD for deliveries over the next twenty-four months.
For additional information on CASG, please contact the investor relations department at Tel: (905) 331-0355 Fax: (905) 331-0356 or visit the CASG web site www.canaero.com.
Monday, June 21, 1999.
Canadian Aerospace Group International Flying High with US $6.75 million in New Funding to Expand its Operations
BURLINGTON, ON, June 21 /CNW-PRN/ - ''There's excitement in the air and opportunity on the ground'' as the Canadian Aerospace Group International Inc., (CASG - OTCBB), announced today the formal signing of a contract for a significant equity injection into the company from Aardvark Group International. Aardvark, which is a private investment firm, has already begun to inject U.S. $6,750,000, which will be completed before the end of August 1999. The investment is a convertible debt with warrants to be exercised over the next two years at an average value of US $1.59 per share. The funds will be used as working capital and expansion of the business.
CASG Chairman, Joseph Rotolo, welcomed the investment stating ''CASG is setting up the foundation to become an industry leader in Aerospace. This new funding will enable the company to service its customer orders and seek out new strategic alliances that will further strengthen the company.''
CASG has announced orders for its product-lines totaling in excess of US $50 million this year far exceeding estimated projections.
CASG is a United States Corporation with four Canadian subsidiaries. Its head office is in Burlington, Ontario with manufacturing facilities at various locations in Canada. It is a group of companies established in 1996 to manufacture, assemble, and develop specific military, commercial and civil aviation aircraft using state of the art technology. The three main products of CASG include:
- the 19 seat Twin Panda regional airline utility transport,
- Windeagle general aviation aircraft and
- the Monitor military jet trainer.
Tuesday, June 1, 1999.
CANADIAN AEROSPACE GROUP INTERNATIONAL INC., AND CANADIAN GOVERNMENT ANNOUNCE "THE SKY'S THE LIMIT" IN QUEBEC
St. Hubert, Quebec (BUSINESS WIRE)-JUNE 1, 1999 - Looking to capitalize on the exceptional track record of Aerospace growth in the province of Quebec, Canadian Aerospace Group International Inc., (CASG – OTCBB), participated this morning in a press conference held by the Honourable Minister Martin Cauchon, Secretary of State responsible for Canada Economic Development, to announce a major Government of Canada financial contribution for the establishment of manufacturing facilities for Windeagle Aircraft Corporation at the Airport of St Hubert, Quebec, located on the south shore of the City of Montreal.
As the first of several millions of dollars of Canadian Government support for Windeagle Aircraft Corporation, Minister Cauchon announced to an audience of almost 200 media representatives, officials, aviation companies and other interested parties who were on hand to witness the formal establishment of Windeagle Aircraft Corporation in Quebec, that his department will contribute $1.625 million to the new manufacturing facility at St. Hubert Airport.
"The arrival of this major prime producer – The Windeagle Aircraft Corporation – at the Technobase (St. Hubert) will result in a critical mass to revitalize part of the former military base and create a technology centre in the field of aeronautics" stated Minister Cauchon.
Windeagle Aircraft Corporation will occupy a new multi-million dollar state of the art 50,000 square foot manufacturing facility at St. Hubert Airport, which is scheduled for completion by December this year. Windeagle will temporarily occupy a 24,000 square foot former military hanger on the base, where millions of dollars worth of Windeagle tooling and equipment are to be prepared for the immediate start of product manufacturing. The hiring process has begun for the technicians and aircraft assembly workers who will staff the new facility in September. More than 200 jobs will be created over the next three years related directly to this general aviation aircraft product.
The Windeagle general aviation aircraft is a proven FAA certified low wing single engine retractable 4 seat aircraft. It will appeal primarily to business people and flying schools throughout North America and Europe. It also has many applications for military liaison duties and has met with considerable interest in all of these markets. To date, 41 firm orders have been achieved including 15 for the new turbo prop version of the aircraft representing more than US $23 million in orders.
Windeagle Aircraft Corporation is a wholly owned subsidiary of the Canadian Aerospace Group International Inc. CASG has announced orders for its product-lines totaling in excess of US $50 million this year, far exceeding estimated projections.
For additional information on CASG, please contact Chinggis Capital Corporation. Telephone (416) 740-2426 Fax: (416) 740-7785. Additional information related to the press conference can also be obtained through the office of the Secretary of State for Canada Economic Development at 514-498-1282.
Visit the CASG web page www.canaero.com.
Thursday, April 15, 1999
CANADIAN AEROSPACE GROUP INTERNATIONAL INC., ANNOUNCES LAUNCH ORDER FOR TURBINE WINDEAGLE AIRCRAFT LINE
Burlington, Ontario-(BUSINESS WIRE)-April 15, 1999 - Canadian Aerospace Group International Inc. (OTC Bulletin Board: CASG), is pleased to announce an order for 15 Windeagle Turbo Prop Aircraft. This order has been placed by Interdoc Aerospace PTY Ltd. of Midrand South Africa. The signed order for these 15 aircraft brings the total of all Windeagle models ordered to date to 41 aircraft valued at over $23 Million USD. This order will officially launch the production of the Pratt & Whitney Canada powered turbo prop version of the Windeagle general aviation aircraft. The first delivery is expected for late 1999 to Interdoc.
The Windeagle Aircraft Corporation was formed by Canadian Aerospace Group to manufacture in Canada the FAA certified Windeagle 4 place general aviation business aircraft. The Windeagle is an updated version of the original Windecker Eagle, which was the first all advanced composite material aircraft. The Windeagle is a high performance retractable single engine aeroplane, which can be powered by either a 300 horsepower piston engine or 450-shaft horsepower turbo prop. Although well developed for the existing general aviation market at present, the company tends to continually update and modify the Windeagle to expand its market potential. Future modifications include pressurization, cabin enlargement, and winglets. The Windeagle has excellent performance and is priced well below the competition.
Interdoc Aerospace PTY Ltd., a large aircraft sales and management facility intends to act as a support and maintenance centre for the Windeagle line of aircraft in the sub Saharan marketplace. Interdoc's airline division has previously ordered 5 Twin Panda Aircraft from Canadian Aerospace Group and will take delivery of these aircraft over the next 18 months. Additional information on the products and companies in the Canadian Aerospace Group can be found at their web site at canaero.com
For additional information on CASG, please contact Chinggis Capital Corporation. Telephone (416) 740-2426 Fax: (416) 740-7785.
Friday, March 19, 1999.
Canadian Aerospace Group International Inc., formerly S.L. Ventures Inc. announces new OTC Bulletin Board trading symbol (CASG)
BURLINGTON, ON, March 19 /CNW-PRN/ - Canadian Aerospace Group International Inc. (CASG), which had been operating as S.L. Ventures Inc. (SLVM) has changed its trading symbol on the NASD OTC Bulletin Board effective immediately to CASG.
CASG is a Florida Corporation with four Canadian subsidiaries. Its head office is in Burlington Ontario with manufacturing facilities at various locations in Canada. It is a group of companies established in 1996 to manufacture, assemble, and develop specific military commercial and civil aviation aircraft using state of the art technology. The three main products of CASG are the 19 seat Twin Panda regional airline utility transport, the Windeagle general aviation aircraft and the Monitor military jet trainer and unmanned air vehicle line.
Additional information regarding CASG can be obtained through the web site located at http//www.canaero.com. The company corporate head quarters are located at 5353 John Lucas Drive, Burlington, Ontario L7L 6A8.
Wednesday, February 17, 1999.
SL Ventures, Inc. has changed its name to ''Canadian Aerospace Group International, Inc.''
BURLINGTON, ON, Feb. 17 /CNW-PRN/ - SL Ventures, Inc. (OTC Bulletin Board: SLVM - news), SL Ventures, Inc. has changed its corporate name to Canadian Aerospace Group International, Inc., (CAGI) effective immediately. A new trading symbol has been applied for.
CAGI is a Florida corporation with four Canadian subsidiaries. Its head office is in Burlington, Ontario and its manufacturing facility in North Bay, Ontario. It is a group of companies, formed to develop specific market opportunities in military, commercial and civil aviation, with a focus on state of the art technology. The first three products that CAGI is bringing to market, are the Twin Panda 19-seat regional airline utility transport, the Windeagle general aviation four passenger aircraft, and the Monitor military jet trainer.
Over the past three months, CAGI has received orders for its 19-seat Twin Panda regional aircraft. These total in excess of US$30 million. The Twin Panda offers outstanding performance and can be configured as a regional commuter, transport or utility aircraft. The Twin Panda is considered a logical replacement to the widely circulated, but aging fleet of DeHavilland Twin Otter aircraft that were built some 30 years ago.
Canadian Aerospace Group International, Inc. currently trades on the NASD Over the Counter Bulletin Board in the U.S. under the symbol SLVM.
Wednesday December 16, 1999.
S.L. Ventures Inc. - Canadian Aerospace Group Ltd. Receives US $21million Order from Interdoc Aerospace -Pty.- Ltd.
BURLINGTON, Ontario--(BUSINESS WIRE)--Dec. 16, 1998--(OTC Bulletin Board:SLVM - news) SL Ventures, Inc.(OTC Bulletin Board:SLVM-new) Canadian Aerospace Group Ltd. (CAG) has signed a very significant contract with Interdoc Aerospace (Pty.) Ltd. (Interdoc) of South Africa. The contract is for the purchase of five (5) Twin Panda 19-seat aircraft, and includes parts, supplies and maintenance support, making a total order of US$21 million.
Interdoc is a large aerospace sales company and airline consultancy, with headquarters in Johannesburg, South Africa, and operations throughout all sub-Saharan countries.
The Twin Panda uses the same airframe as the FAA-certified Y12/IV, manufactured by Harbin Aircraft Manufacturing Corporation of China. CAG significantly changes the final version of the aircraft, with the use of 'westernized' components, such as more powerful engines, sophisticated avionics, custom interiors and landing gear. This results in the Twin Panda having superior performance and dependability. The 19-seat regional airline utility transport is powered by twin turbo-prop Pratt & Whitney Canada engines, creating exceptional short take-off and landing (STOL) capabilities. Its high wing structure and solid all-weather reliability have caused many comparisons to be drawn between it and the 'aging' Dehavilland Twin Otter aircraft, which was built some 30 years ago, and has been out of production for many years.
The Twin Panda aircraft will be assembled and completed at one of CAG's manufacturing facilities located in North Bay, Ontario. The delivery of these aircraft to Interdoc will be spread out over a 2 year period, to be completed on or around the end of the year 2000.
CAG is a Canadian company, with its head office in Burlington, Ontario and a manufacturing facility in North Bay, Ontario. It is a group of companies, formed to exploit and develop specific market opportunities in military, commercial and civil aviation, with a focus on state of the art technology. The first three products that CAG will bring to market, are the Monitor military jet trainer, the Twin Panda 19-seat regional airline utility transport and the Windeagle general aviation aircraft.
Canadian Aerospace Group Ltd., is a wholly owned subsidiary of SL Ventures, Inc., which trades on the NASD Over the Counter Bulletin Board in the U.S. under the symbol SLVM.
Wednesday December 9, 1999.
SL Ventures, Inc./Canadian Aerospace Group Ltd. Contracts with Major U.S. Aerospace Guidance System Company to Develop a Line of 'Unmanned Military Aircraft'
BURLINGTON, Ontario--(BUSINESS WIRE)--Dec. 9, 1998--SL Ventures, Inc.(OTC Bulletin Board:SLVM - new) Canadian Aerospace Group Ltd. (CAG) is pleased to announce a newly formed Contractor Teaming Agreement with Micro Systems, Inc. of Fort Walton Beach, Florida.
Micro Systems, Inc. (Micro Systems) is a leading U.S. designer and manufacturer of guidance, command and control flight systems, for aerial target drones and unmanned air vehicles (UAVs). Micro Systems has provided logistics, flight test engineering, and depot support for Army and Air Force full and subscale aerial targets since 1976 and now provides control systems for the targets of all three military services.
By joining with CAG, Micro Systems has agreed to design a sophisticated guidance and flight control system specifically for conversion of CAG's state-of-the-art military jet aircraft, the Monitor, for unmanned flight missions. The variety of missions for which a UAV can be used, varies from passive surveillance, to threat simulation, to strike missions. More importantly, in today's world of decreasing defence budgets, the UAV can offer the military a very cost-effective alternative to those offered by manned aircraft.
There is a stated requirement by NATO and U.S. Armed Forces, for hundreds of aerial targets and UAVs each year. In fact, U.S. Armed Forces spend more than US$200 million annually on these. CAG and Micro Systems intend to jointly develop UAVs, aerial targets, as well as uninhabited combat air vehicles, for a number of these identified markets worldwide.
The Monitor, is composed entirely of advanced composites in its airframe. The use of this technology has many significant advantages that are of tremendous interest to the military. Not the least of which is the extremely low radar profile that a composite structure offers. This ''stealth'' feature has applications both in terms of the training it offers military personnel in terms of recognition and detection of stealth-type aircraft, and also in terms of the various missions it is capable of accomplishing.
CAG is a Canadian company, with its head office in Burlington, Ontario and a manufacturing facility in North Bay, Ontario. It is a group of companies, formed to exploit and develop specific market opportunities in military, commercial and civil aviation, with a focus on state of the art technology. The first three products that will be brought to market, are the Monitor military jet trainer, the Twin Panda 19-seat regional airline utility transport and the Windeagle general aviation aircraft. Canadian Aerospace Group Ltd., is a wholly owned subsidiary of SL Ventures, Inc., which trades on the NASD Over the Counter Bulletin Board in the U.S. under the symbol SLVM.
CORPORATE MANAGEMENT
Management Structure
CAG has assembled a management team of key individuals who bring together decades of combined experience and success in a wide variety of disciplines related to aerospace manufacturing and marketing. Some of these key players are as follows:
Philip Nelson - CAG President
Thirty plus years experience in the aerospace industry, including as head of his own company (Can-Aero Leasing) engaged in airline and aircraft maintenance, management, aircraft overhaul and manufacturing, and worldwide sales and consulting in the military, civil and commercial aviation sectors.
Joseph Rotolo - CAG Vice President
Twenty plus years of corporate management, including ten years as head of his own aerospace company (R3 Aerospace) engaged in aircraft modification work including direct contracting with major defense manufacturers and suppliers.
Peter de Ruyter- FAA Designated Engineering Representative
Accredited US Federal Aviation Administration (FAA) engineer and aircraft modification specialist with more than 30 years experience in civil and military aircraft design and maintenance programs for major manufacturers.
Harry Butts- VP Manufacturing
36 years experience with Grumman Corp. and Sikorsky Aircraft Corp. as composite materials engineer and manufacturing manager, including industry-leading work on state-of-the-art composite processes for the Sikorsky Commanche Helicopter.
Wayne Thompson-VP Flight Operations
Recently retired from Canadian Air Force as senior officer after 30-year tour including Snowbirds pilot, jet instructor, air operations manager, staff planner, airbase commander, training facilities commander, and government liaison.
I thought this DD would bring SI up to speed. This one looks like it is coming together nicely.
Happy investing,
Uptickin |
