Winter Park, FL , Feb. 15, 2022 (GLOBE NEWSWIRE) -- Aqua Power Systems Inc. (OTC Pink: APSI) today announced that Company management is engaged in active discussions with several potential target merger and acquisition candidates.  Discussions are active and ongoing with in person meetings being scheduled.

The candidate companies are from a variety of industries and additional candidates are expected to be added to the list of those being reviewed by the Company.  The Company seeks to review candidates with strong management teams in place, substantial current revenues, large overall industry size, strong company growth and marketing plans. 

The Company has made its first foray into the popular Sandbox metaverse with the successful acquisition of prime real estate within the coveted and known neighborhood of Snoop Dogg.  This neighborhood popularly referred to as the "The Snoopverse" is centrally located and has experienced significant increases in both popularity and land values.  As part of a forward-looking growth strategy the Company believes the purchase will prove to be a valuable asset and bring significant untold opportunities for the future incoming merger/acquisition candidate. 

Stephen Carnes, President of APSI, stated, "When I took the helm of Aqua Power in December 2021, my vision was to set the course of a total clean-up and total restoration of the Company. Through my initiatives Aqua Power has successfully canceled approximately 9 million common shares from the Outstanding Share count and the Company is seeking to cancel an additional 32 million common shares.  The Company is in the later steps of fulfilling necessary legal obligations in pursuit of this 32 million share cancellation at which time Aqua Power seek final court approval to cancel the shares. Based on where we are at in this process, all of the obligations are on schedule to be met within Q1 with a request to seek cancellation in very early Q2, leaving APSI with a float of under 18 million shares."

"Regarding the announcement of the Sandbox property purchase, I believe this asset acquisition secures Aqua Power a very prime piece of real estate as the future of the metaverse just begins to unfold.  I realize that most people have little understanding of the metaverse, which is exactly why today's announcement is so exciting as we are on the cutting edge of opportunities.  For most people, the discussion of the 'meaning of the metaverse' is like discussing 'the meaning of the internet' in the 1970's.", Carnes was quoted as stating.

Carnes went on to state, "APSI is now an amazingly clean vehicle that is ready for a merger and acquisition. The path has been paved for something truly special to come into Aqua Power through the substantial efforts to clean-up the Company with the elimination of debt and significantly reducing shares outstanding in addition to submitting audited financials and achieving fully-reporting status. I now seek very strong companies to bring into Aqua Power in order to maximize shareholder value both in the short-term and long-term alike. I appreciate the vote of confidence that I receive on a regular basis from shareholders via email and phone calls. I am confident that the best is yet to come, and I am working to secure the first merger-acquisition for shareholders during this first quarter."

For a complete list summary of 2021 achievements that detail debt elimination, audit completion, share cancellation, and other achievements, interested parties are invited to view the Company's press release dated December 13, 2021. 

Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the Company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Stephen Carnes
407-674-9444

Attachments

• $APSI - AQUA POWER SYSTEMS ENGAGED IN ACTIVE CONVERSATIONS WITH MERGER CANDIDATES IN CONJUNCTION WITH ACQUISTION OF SANDBOX METAVERSE PROPERTY
• $APSI - AQUA POWER SYSTEMS ENGAGED IN ACTIVE CONVERSATIONS WITH MERGER CANDIDATES IN CONJUNCTION WITH ACQUISTION OF SANDBOX METAVERSE PROPERTY