Horizon Aircraft is an advanced aerospace engineering company that has developed the world's first eVTOL that can fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Our unique designs place the mission first and prioritize safety, performance, and utility. Our Cavorite X5 eVTOL is designed to enter the market quickly and service a broad spectrum of early use-cases.
Visit www.horizonaircraft.com for more information.
About Astro Aerospace
Astro Aerospace is the developer of an advanced, autonomous, short haul, eVTOL (Electric Vertical Take-off and Landing) aerial vehicles. Our mission is to make self-flying unmanned and manned vehicles available to anyone, at any time, from anywhere, bringing a new and exciting aircraft into a mainstream mode of transportation.
Our vision is "Flight Made Easy".
Visit www.flyastro.com for more information.
Forward-Looking Statements
Certain information in this news release constitutes "forward-looking information" under applicable securities laws. "Forward-looking information" is defined as disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action and includes future-oriented financial information with respect to prospective financial performance, financial position or cash flows that is presented as a forecast or a projection.
Forward-looking statements are often but not always, identified by the use of such terms as "may," "might," "will," "will likely result," "would," "should," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "continue," "target" or the negative and/or inverse of such terms or other similar expressions.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the filing of a notice under the Investments Canada Act, the ability of the Company to receive regulatory approval by the relevant governmental agencies, including the Director of Investments under the Investment Canada Act, the ability of the parties to close the transaction on the terms mentioned within this news release, the Company's ability to integrate Horizon's business as planned, the commercial viability of Horizon's prototypical Cavorite X5 aircraft, the ability of the Company to commence production of the Cavorite X5, the viability of the Covorite X5's proprietary fan-in-wing technology, the expected performance of the Cavorite X5, the continuance of current industry trends, the Company's anticipated revenue, estimated margins, the effect of the transaction on the Company and its strategy going forward, the Company's ability to obtain regulatory approval with respect to the Company's products, in particular, the prototypical Cavorite X5 by the relevant governmental authorities, including the U.S. Federal Aviation Authority (FAA), and expectations with respect to future production costs of the Company's products. While Astro and Horizon consider these assumptions to be reasonable, based on information currently available, they may prove to be incorrect.
Readers are cautioned not to place undue reliance on forward-looking statements.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company's reliance on one key customer for a substantial percentage of its revenue, the Company's ability to consummate any proposed financing, acquisition or transaction, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition or transaction will not occur or whether any such event will enhance shareholder value, the Company's ability to continue as a going concern, the Company's ability to attract, maintain and increase the number of its customers, the Company's ability to maintain compliance with certain financial and other covenants, the effects of the global Covid-19 pandemic, changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company's subsidiaries; and other risks, uncertainties and factors. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
