TEL-AVIV, Israel, April 14, 2015 /PRNewswire/ --
Blackbird International Corporation (OTCBB: BBRD), a global leader in renewable sea wave energy technology (WERPO), is pleased to announce that it will initiate a planned share buyback program of its common stock from the open market up to 7 million shares.
Mr. Shmuel Ovadia, Director and inventor of BBRD's technology stated: "We believe the common shares of BBRD are very valuable and this share buyback program will not only strengthen the company's capital structure, but ultimately increase the value of the shares to our loyal shareholders. This repurchase program demonstrates our commitment to building long-term shareholder value and further shows our confidence in the growth potential of WERPO. Given the strong demand for WERPO's technology and the expansion of our brand, we see tremendous opportunities ahead."
The share repurchases will be made from time to time over the next 6 months at the Company's discretion. The repurchase program may be suspended or discontinued at any time.
About Blackbird International Corporation:
Blackbird International Corporation (http://www.werpo.us) is the sole shareholder of Wave Electricity Renewal Power Ocean Ltd (WERPO).
About WERPO sea wave energy technology (BBRD):
WERPO, having received the rights for all of SDE Ltd.'s technology, property, know-how, IP (patents, et. al.), contracts and subsidiaries, is able to promote its sea wave energy solution around the world.
WERPO's unique technology is based on the utilization of sea waves' rise and fall to yield hydraulic pressure that produces electricity, while exploiting the full potential of wave speed, height, depth and currents beneath the surface of the water. This technology was chosen as number one in its field by an independent team of scientists from PesWiki and also as one of the top 100 renewable energies.
The Israeli company with its proven technology has several projects around the world with government entities as well as with the private sector. It has established 11 joint ventures with local partners in 9 different countries including a second project in China.
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
For further information please contact:
Maximum Performance Advisors, Inc.
SOURCE Blackbird International Corporation