Attention Business/Financial Editors:
AADCO announces closing of third advance of funding announced April 13, 2006
AA: TSX - Venture Exchange
BRAMPTON, ON, July 4 /CNW/ - AADCO Automotive Inc. (the "Company") is pleased to announce the closing of the third advance of $200,000 of funding announced on April 13, 2006. As previously announced, the Company had entered into a convertible debenture (the "Debenture") in the maximum amount of $500,000 with Quorum Secured Equity Trust. The Company has met the criteria set out in the Debenture for the advances by executing efforts in the area of strategic acquisitions. To date, $450,000 has been advanced under the Debenture.
About AADCO Automotive Inc. -- AADCO supplies recycled OEM automotive parts to collision repair businesses, mechanical shops, other recyclers, and consumers throughout the Greater Toronto Area. The Company is headquartered in Brampton, Ontario and is listed on the TSX Venture Exchange - AA.V.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This press release includes forward-looking statements, including statements relating to the Company's marketing strategy, future sales growth, profitability, competitive position, and release of new products. The words "plan", "expect", "believe", "intend", "anticipate", "forecast", "target", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. The Company does not undertake to review or update these forward-looking statements.
For further information: AADCO Automotive Inc., (905) 789-9313, Charles Hodgkinson, CEO, chodgkinson@aadco.ca
