TORONTO, Oct. 28, 2008 (GLOBE NEWSWIRE) -- Aspire International, Inc's ("Aspire" or the "Company") (OTCBB:APIT) wholly owned subsidiary Aspire GuangXi Inc. announced today that the Company has signed a funding agreement with a private investor.
The company has secured financing of US$1.2 million from Clearstone Partners, Inc., a private investment company located in the Turks and Caicos Islands. This investment is a promissory note with maturity date of October 15, 2009. The company will issue 2 million restricted shares as collateral.
Clearstone Partners is an offshore private equity investor dedicated to serving the financial needs of US Publicly Traded Companies. "We are pleased to add Aspire International, Inc. to our portfolio," said Mark E. Theriot, Clearstone's Managing Director. "The potential of emerging companies in the Chinese mining industry is limitless and we are ecstatic to assist Aspire International in its endeavors." Contact Clearstone Partners, Inc. (www.clearstoneadvisors.com) US Advisor Office at 760-536-4371. The investment opportunity was sourced through Noble Woods, Managing Director of Nobleco, Inc. (www.noblecoinc.com). Nobleco Inc. is a Chicago based private investment banking firm with contact number 888-915-4900 ext 500.
About Aspire International Inc.
Aspire International Inc. (OTCBB:APIT) was registered in the state of Maryland.
Perfisans Networks Corporation, (www.perfisans.com), is a wholly owned subsidiary of Aspire International Inc. and is headquartered in Markham, Ontario, Canada.
Aspire GuangXi Inc. (http://www.apit.ca) is a Wholly Owned Foreign Enterprise (WOFE) in China. The company is led by a seasoned management team to manage and oversee the mining operations.
Cautionary Statement
This press release contains statements relating to future results of Aspire (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; changes in product mix; product obsolescence; the availability of manufacturing capacity; fluctuations in manufacturing yields; pricing pressures and other competitive factors; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the uncertainties of litigation; our ability to attract and retain qualified personnel; as well as other risks and uncertainties, including those detailed from time to time in Aspire's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.