November 11, 2008
Aspire Signs a Mining Subcontract Agreement
TORONTO, Nov. 11, 2008 (GLOBE NEWSWIRE) -- Aspire International, Inc.'s ("Aspire" or the "Company") (OTCBB:APIT) wholly owned subsidiary, Aspire GuangXi, announced today that the Company has signed a mining subcontract management agreement with GuangXi WuXuan GuangDa Mining Company Limited (GuangXi GuangDa) to develop the GuangXi FangCheng Pingwang Nawang Manganese mining property.
The GuangXi FangCheng Pingwang Nawang manganese mining property currently has a total area of 21.3km(2). Aspire GuangXi subcontracted a mining site to GuangXi GuangDa to manage the production of Manganese ore for three (3) years until May 2011, with an additional two (2) year renewal right. GuangXi GuangDa will put in necessary equipments and expertise to increase the daily capacity to 300 MT. GuangXi GuangDa will receive a management commission of 30% from the sales. GuangXi GuangDa will be responsible for all the mining site management including human resource, safety, government liaison and machine maintenance. GuangXi GuangDa will guarantee a daily production of 300 MT daily. Currently, the production is about 100 MT daily and expects to ramp up the capacity shortly.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.
More information can be obtained from the Company's web site at www.perfisans.com and http://www.apit.ca
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.
This news release was distributed by GlobeNewswire, www.globenewswire.com
CONTACT: Aspire International, Inc. Investor Relations (905)943-9996 x 230 [email protected]