Acquisition Details and Market Activity

Rhea-AI Summary

NRP Stone, Inc. (OTC PINK:NRPI) successfully closed its acquisition of Uplift Aerospace, Inc. on June 30, 2021. This strategic move was made to benefit shareholders, with Uplift receiving 50 million restricted shares in exchange for 80% of its business. NRP Stone anticipates generating revenue after years of development, supported by Uplift's future activities with significant space industry players. Uplift aims to create short and long-term revenue streams through marketplace product sales, engagement fees, and in-space mining projects.

Positive

• Acquisition of Uplift Aerospace expected to generate immediate revenue.
• Uplift's business initiatives include partnerships with government and private space companies.
• Diverse revenue model from product sales, engagement fees, and potential government grants.
• Long-term plans for in-space mining and infrastructure development.

Negative

• 50 million restricted shares issuance may lead to shareholder dilution.
• The company is still navigating the complex FINRA symbol and name change process.

PARK CITY, UT / ACCESSWIRE / July 8, 2021 / NRP Stone, Inc. (OTC PINK:NRPI) closed its acquisition of Uplift Aerospace, Inc. prior to receiving a name and symbol change at the request of Uplift. This was agreed to be in the best interest of all shareholders. "We view the hastening of the closing as a strategic move forward for both entities," observed David Clark, President of NRP. The acquisition closed on June 30, 2021, at the request of Uplift Aerospace, which received 50 million restricted shares of NRP Stone, Inc. stock in exchange for 80% of Uplift. This acquisition will also put NRP Stone in a revenue position after experiencing years of development. "We believe," stated Mr. Clark, "this is positive for all shareholders. We are very pleased with their business initiatives as revenues grow and money is garnered from Uplift's future activities with major players."

The application with FINRA for a symbol and name change is still in the process. The Company has been able to satisfy all requirements throughout the process since its March filing and is working to satisfy the most recent round of requests. The name and symbol change will be announced when it is received from FINRA.

Uplift is working with one governmental agency as well as multiple private space companies. Revenues will be coming from short-term, as well as long-term projects. "Short-term revenues," stated Josh Hanes, CEO of Uplift Aerospace, "will be generated by both engagement fees and product sales through our marketplace in space planned for this next year." As part of our revenue model, Uplift will commission and sell fine art for showcase in space and on earth, engage with luxury brands and designers to create and sell products, and apply for governmental grants. In the long-term, Uplift is planning to commercialize in-space mining, infrastructure, manufacturing, and production technology.

Media Contact: press@upliftaerospace.com

US OTC Symbol:NRPI; CUSIP: 62940J200. Follow us on Facebook, Twitter, and Instagram @upliftaerospace or on the web at www.upliftaerospace.com

Disclosures and Caution Concerning Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, economic and market factors, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company, its management, or affiliates, undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

SOURCE: NRP Stone, Inc.

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https://www.accesswire.com/654719/Acquisition-Details-and-Market-Activity

FAQ

What is the significance of NRP Stone's acquisition of Uplift Aerospace?

The acquisition aims to generate immediate revenues for NRP Stone after years of development and aligns with Uplift's future initiatives in the space industry.

When did NRP Stone acquire Uplift Aerospace?

NRP Stone closed the acquisition of Uplift Aerospace on June 30, 2021.

How will Uplift Aerospace generate revenue after the acquisition?

Uplift will generate revenue through engagement fees, product sales in its marketplace, and long-term projects in in-space mining and manufacturing.

What challenges does NRP Stone face after acquiring Uplift Aerospace?

NRP Stone faces potential shareholder dilution due to the issuance of restricted shares and must successfully navigate the FINRA name and symbol change process.

What are Uplift Aerospace's long-term business plans?

Uplift plans to commercialize in-space mining, infrastructure, and production technology.