NAPC Defense, Inc. (OTCPK: BLIS) begins Highly Anticipated Visits with Key European Contacts, and to Saudi Arabia for CornerShot Demonstrations
Rhea-AI Summary
NAPC Defense, Inc. (OTCPK: BLIS) has begun a strategic European and Saudi Arabian corporate trip. The company met with defense contracting partners in Germany and other countries for Allied defense supplies. Now in Saudi Arabia, NAPC will demonstrate CornerShot firearm tactical devices and represent other arms technologies.
NAPC received a Letter of Intent from Saudi Arabia for 37,000 CornerShot units, valued at $370 million. The company anticipates a new Definitive Order Agreement following demonstrations. NAPC has exclusive rights to produce and sell CornerShot in Saudi Arabia and the US, with production equipment ordered for near-term manufacturing.
As a licensed munitions broker, NAPC expects orders for Allied and NATO forces, with potential inventory valued over $2.5 billion, yielding 10-20% brokering fees.
Positive
- Received LOI from Saudi Arabia for 37,000 CornerShot units worth $370 million
- Exclusive license to produce and sell CornerShot in Saudi Arabia and US
- Production equipment ordered for near-term manufacturing of CornerShot
- Potential for significant brokering fees (10-20%) on $2.5 billion inventory of munitions and military hardware
Negative
- No definitive order agreement yet for the Saudi Arabia CornerShot deal
- Large-scale production of CornerShot not yet begun
LARGO, Fla., July 25, 2024 (GLOBE NEWSWIRE) -- NAPC Defense, Inc. (OTCPK: BLIS) (“NAPC”) announces that its representatives began its European and Saudi Arabian corporate trip. For the past two weeks, management met with defense contracting partners in Germany and other countries for strategic supply of needed defense items for Allied Countries.
The NAPC team is now in Saudi Arabia, upon invitation from the Saudi Government and related Ministries, and will perform numerous live-fire demonstrations of CornerShot firearm tactical devices. Additionally, NAPC Defense will be representing other arms and munitions technology for potential orders, as well as other related business as requested by parties from Saudi Arabia.
As previously announced, NAPC received a signed and stamped LOI from Saudi Arabia for an initial order of 37,000 units of the CornerShot, valued at (U.S.)
The CornerShot technology licensed from Silver Shadow of Israel will be manufactured by NAPC Defense in the United States near its Largo, Florida headquarters. All necessary production equipment has been ordered and paid for so that large scale production of the CornerShot can begin in the near-term. NAPC Defense has an exclusive license to produce and sell CornerShot for Saudi Arabia and The United States.
Recently, NAPC Defense displayed and presented the CornerShot at police and tactical unit conferences in Florida and New Jersey, with significant order interest. NAPC has also demonstrated CornerShot to several law enforcement and military units at its Largo, Florida location, utilizing its indoor smokeless demonstration range and real range use.
As previously disclosed, NAPC Defense is licensed and approved to broker munitions and military hardware already produced and in inventory at various locations worldwide. NAPC anticipates orders for different munitions and military hardware items that are of need to Allied and NATO forces for the Ukrainian conflict and the Middle East. The inventory of these items, if sold at currently offered fair value, totals over (U.S.)
About NAPC Defense, Inc.
NAPC Defense, Inc. https://www.napcdefense.com/ is an armament sales and production company, fully licensed in the United States, with exclusive rights to produce and sell CornerShot USA weapons systems in the U.S and Saudi Arabia, in addition to brokering arms and munitions throughout the world all with US State Department approval. Additional smaller weapons platforms, a series of ballistics protection technologies and related products are in development or being finalized for sale.
FORWARD LOOKING STATEMENTS:
This press release and the statements of representatives of NAPC. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information.
These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should,’ “believes," "expects," "anticipates,” “estimates," "intends," "plans, “ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, NAPC's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with the SEC. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
COMPANY CONTACT:
Kenny West, CEO (754) 242-6272 Ext.713
FAQ
What is the value of the Letter of Intent NAPC Defense (BLIS) received from Saudi Arabia?
Where will NAPC Defense (BLIS) manufacture the CornerShot devices?
What percentage of brokering fees does NAPC Defense (BLIS) expect to realize on munitions and military hardware transactions?
In which countries does NAPC Defense (BLIS) have exclusive rights to produce and sell CornerShot?
