CHATSWORTH, Calif., Oct. 7, 2004 (PRIMEZONE) -- Logistical Support, Inc. (OTCBB:LGSL), a Chatsworth, California firm that manufactures and develops parts and components for military aircraft, announced that the Company has completed a $2.0 Million common stock financing with institutional investors led by Hunter World Markets, Inc. of Beverly Hills, CA. Proceeds from the financing will be used to scale-up manufacturing and increase sales and marketing efforts. Additionally the company has entered into an investment banking agreement with Hunter World Markets, Inc. to provide support for mergers, acquisitions as well as future financings.
Bruce Littell, Logistical Co-Chairman and CEO said, "These proceeds enhance our financial strength and ability to capitalize on the opportunities within our industry and to generate future growth."
Further details on the financing are included on a Form 8-K filed by the company with the SEC pursuant to the Securities Exchange Act of 1934.
About Logistical Support, Inc.
Since 1973 Logistical Support, Inc's subsidiaries have been qualified sources for manufacturing and overhauling spare parts for the U.S. Government. These companies design, develop, fabricate and integrate spare parts for military aircraft.
Their product lines are broadly based and range from small machine components to complex assemblies, while their areas of expertise include aircraft hydraulics, landing gear, engine parts, structural assemblies and drive systems.
The company prides itself on quality which has been demonstrated by its delivery of thousands of parts to its customers without a single discrepancy.
About Hunter World Markets, Inc. (HWM)
Based in Beverly Hills, California Hunter World Markets, Inc. (HWM) is a member of NASD and SIPC and offers investment banking, investment advisory and institutional trading to select clients with a diversity of sector and industry experience, particularly in North American and European markets. HWM has equity underwriting capabilities that include capital rising through initial public offerings and private placements. In institutional trading, HWM offers highly individualized trading services to investment advisors, asset mangers, pension funds, insurance companies, hedge funds, banks and other institutional investors, and trades on all major exchanges in North America and Europe through RBC Dain Rauscher Inc.
Safe Harbor Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.