Letter of Intent Formalized for Acquisition

Rhea-AI Summary

NRP Stone, Inc. (OTC PINK:NRPI) has initiated formal negotiations to acquire the remaining 20% stake in Uplift Aerospace, aiming for complete ownership. A Letter of Intent was signed on January 12, 2022, with an expected completion in the upcoming weeks. This strategic acquisition is anticipated to enhance shareholder value due to Uplift's collaborations with Blue Origin and a new NASA contract.

Positive

• Acquisition of remaining 20% stake in Uplift Aerospace will result in 100% ownership.
• Strategic partnerships with Blue Origin and NASA could enhance revenue.

Negative

• None.

PARK CITY, UT / ACCESSWIRE / January 13, 2022 / NRP Stone, Inc.(OTC PINK:NRPI recently opened formal negotiations to acquire the remaining 20% of the issued and outstanding common stock of Uplift Aerospace, providing NRP Stone, Inc. 100% ownership of Uplift. A Letter of Intent was formalized on January 12, 2022 and the transaction is expected to be completed in the coming weeks. This acquisition is expected to bring additional value to shareholders as a result of Uplift's project with Blue Origin, recently announced contract with NASA, and the Space+ program.

ABOUT UPLIFT AEROSPACE

An emerging leader in the rapidly transforming space industry, Uplift Aerospace is pioneering revolutionary systems to manufacture, trade, and deliver products for a multiplanetary economy.

MEDIA CONTACT: press@upliftaerospace.com

US OTC Symbol: NRPI; CUSIP: 62940J200. For the latest updates, visit upliftaerospace.com and follow @upliftaerospace on Facebook, Instagram, and Twitter.

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.

View source version on accesswire.com:
https://www.accesswire.com/683336/Letter-of-Intent-Formalized-for-Acquisition

FAQ

What is the purpose of NRPI's acquisition of Uplift Aerospace?

The acquisition aims to establish full ownership of Uplift Aerospace, enhancing shareholder value through strategic projects.

When was the Letter of Intent for the Uplift acquisition formalized?

The Letter of Intent was formalized on January 12, 2022.

How will the acquisition impact NRPI shareholders?

The acquisition is expected to bring additional value to shareholders through Uplift's contracts with Blue Origin and NASA.

What percentage of Uplift Aerospace is NRPI acquiring?

NRPI is acquiring the remaining 20% of Uplift Aerospace's issued and outstanding common stock.

What is the expected timeline for completing the acquisition?

The acquisition is expected to be completed in the coming weeks following the Letter of Intent.