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Article Excerpt
* B. Riley & Co., Inc. to Serve as Financial Advisors
* John Sawyer to be appointed CEO of Global Aircraft Solutions
TUCSON, Ariz. -- Global Aircraft Solutions, Inc. (OTC BB: GACF), an integrated aviation company engaged in aircraft trading, aircraft parts sales, and providing maintenance, repair and overhaul (MRO) services for commercial airlines, charter airlines and aviation leasing companies, today announced that the Company has acquired a 20% ownership interest in, and entered into an exclusive service agreement with, Global Aircraft Leasing Partners ("GALP"). Concurrently, the Company entered into a financial advisory services agreement with B. Riley & Co., Inc. ("B. Riley").
GALP is a start-up aircraft-leasing venture formed to acquire aircraft through a combination of debt and equity financing, and lease these commercial jet aircraft to operators throughout the world. GACF and GALP have entered into a strategic alliance wherein Global Aircraft will acquire a 20% interest in GALP in exchange for a capital contribution of $20,000, together...
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