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10.7.2003: Meldung: Capstone completed primary due diligence for acquisition of FPOW
Capstone International Corporation (OTC/BB: CILC-CITC) ("Capstone") today announced that in furtherance of its business development plan, as first announced in its news release of May 6th, 2003, Capstone has completed the primary due diligence for the Company""s first acquisition in the power generation and utilities industry. Capstone has requested its attorneys prepare final documents for the Merger/Acquisition of First National Power Corporation (FPOW), a private company based in Toronto, Canada. The spokesperson for First National Power, stated, "...this is an exciting time for us and we believe the FPOW business model combined with our marketing skills will allow us to acquire and penetrate newly defined regulated and deregulated markets. FPOW is not limited in its international plan and will save the consumer significantly on their home energy bills. At First National Power, the primary focus is the international market for green powered energy conservation and reduced electricity costs. This strategy will relieve the pressure which is currently experienced by utilities in keeping up with electricity supply and demand, and have a major impact on reducing harmful gas emissions, a widespread concern today".
About First National Power Corporation
First National Power Corporation is a developer of renewable energy to meet the growing demand for clean, renewable sources of power. First National""s focus is on wind power, the most rapidly growing source of electricity generation in the world. The team of experienced professionals at First National brings together a full range of project development, technical, financial and marketing skills to design, construct and operate wind power facilities. Combining this with First National""s aggressive marketing plans and its relationships with private investors will allow the new Company, upon completion of the Merger, to accelerate the design and construction process and reduce the need to acquire data in order to satisfy typical funding or granting protocols. Mr. Frank Cavicchia, spokesperson for First National Power stated, "...First National is poised to become the largest producer of clean electricity, using wind power...that is our goal and we are focused on achieving it. Currently, First National Power is pursuing talks with the objective of developing a production site with upwards of 15 megawatts in Ontario as a test market. Such a site would make First National Power the largest producer of wind power in the province, thus taking First National Power on its way to becoming a leader in wind power generation in North America."
About Capstone International Corp. (OTC/BB: CILC-CITC)
The primary focus of Capstone International Corporation is to increase the share value for its Shareholders. With this goal in mind, the Management of CITC has been pursuing businesses with high growth investment opportunities that will reflect this increase. The acquisition of First National Power is the first step in our focus to become a major player in the utilities market in the United States and Canada, and to join the lucrative and expanding market in wind power generation, which already includes well known and successful companies such as General Electric (GE), which recently bought Enron Wind; British Petroleum (BP), which has changed their name to ""Beyond Petroleum""; and Sunoco, which now has a division for renewable energy called ""SunCor"". Terms of the agreement will be announced upon completion of the Merger/Acquisition. Kevin M. Murphy, Director of Capstone stated, "...the information available on the internet on our new target industry at such sites as http://www.awea.org/pubs/documents/GlobalWEMarketReport2003.pdf will give our shareholders, friends and future investors a fair background as we develop our new Website."
Corporate Contact:
Kevin M. Murphy 1-253-549-4336 -weekdays 11:00 AM to 7:00 PM
About First National Power Corporation
First National Power Corporation is a developer of renewable energy to meet the growing demand for clean, renewable sources of power. First National""s focus is on wind power, the most rapidly growing source of electricity generation in the world. The team of experienced professionals at First National brings together a full range of project development, technical, financial and marketing skills to design, construct and operate wind power facilities. Combining this with First National""s aggressive marketing plans and its relationships with private investors will allow the new Company, upon completion of the Merger, to accelerate the design and construction process and reduce the need to acquire data in order to satisfy typical funding or granting protocols. Mr. Frank Cavicchia, spokesperson for First National Power stated, "...First National is poised to become the largest producer of clean electricity, using wind power...that is our goal and we are focused on achieving it. Currently, First National Power is pursuing talks with the objective of developing a production site with upwards of 15 megawatts in Ontario as a test market. Such a site would make First National Power the largest producer of wind power in the province, thus taking First National Power on its way to becoming a leader in wind power generation in North America."
About Capstone International Corp. (OTC/BB: CILC-CITC)
The primary focus of Capstone International Corporation is to increase the share value for its Shareholders. With this goal in mind, the Management of CITC has been pursuing businesses with high growth investment opportunities that will reflect this increase. The acquisition of First National Power is the first step in our focus to become a major player in the utilities market in the United States and Canada, and to join the lucrative and expanding market in wind power generation, which already includes well known and successful companies such as General Electric (GE), which recently bought Enron Wind; British Petroleum (BP), which has changed their name to ""Beyond Petroleum""; and Sunoco, which now has a division for renewable energy called ""SunCor"". Terms of the agreement will be announced upon completion of the Merger/Acquisition. Kevin M. Murphy, Director of Capstone stated, "...the information available on the internet on our new target industry at such sites as http://www.awea.org/pubs/documents/GlobalWEMarketReport2003.pdf will give our shareholders, friends and future investors a fair background as we develop our new Website."
Corporate Contact:
Kevin M. Murphy 1-253-549-4336 -weekdays 11:00 AM to 7:00 PM