BCSC removes CTO in Canada

Dallas, Texas, Oct. 23, 2018 (GLOBE NEWSWIRE) -- Astro Aerospace Ltd. (the “Company” or “Astro”) (OTCQB: ASDN) and its wholly-owned subsidiaries, announces that effective __Monday Oct 22, 2018, the British Columbia Securities Commission confirmed that it removed the cease trade order originally imposed on the Company on September 7, 2010 as a result of the Company becoming compliant by filing the outstanding financial statements and management discussion and analysis for the years ended December 31, 2017 and 2016, and for the quarters ended March 31, 2018 and June 30, 2018. 

Bruce Bent states “ we would like to than the BCSC for their cooperation in removing this cease trade order in Canada. This will now allow Canadian investors access to participate in our common stock through their respective brokers.

About Astro Aerospace Ltd.

The Company is a developer of self-piloted and autonomous, manned and unmanned, eVTOL (Electric Vertical Take Off and Landing) aerial vehicles. The Company intends to provide the market with a mainstream mode of everyday, aerial transportation for both humans and cargo. Astro currently has a working prototype and is making engineering and mechanical improvements to it.

The British Columbia Securities Commission originally applied the cease trade order to the Company on September 7, 2010. During this time, the Company was named Lux Energy Corp. On September 6, 2011, the Company terminated its registration with the Securities and Exchange Commission by filing a Form 15-15D. On September 16, 2011, the Company changed its name to Sunbelt International Inc. On January 31, 2014, the Company changed its name to Nevcor Business Solutions, Inc. On July 3, 2014, the Company was purchased by Lawrence and Loreen Calarco and changed its name to CPSM, Inc. On March 14, 2018, MAAB Global Limited, which is 100% owned by Bruce Bent, acquired controlling interest in the Company and changed its name to Astro Aerospace Ltd.

Forward-Looking Statements

This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that Astro anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, comments with respect to strategies, expectations, planned operations and future actions of the Company. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Astro to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Astro, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement.

Investors are cautioned that, except as disclosed in the Filing Statement any information released or received with respect to the reverse take-over may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The British Columbia Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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