TORONTO, ONTARIO -- (MARKET WIRE) -- 04/11/08 -- Venga Aerospace Systems Inc. (TSX VENTURE: VAV)(PINK SHEETS: VNGAF)(the "Company") announced that the term sheet it signed with Anchor Securities Limited of Toronto, Canada, wherein the Company would receive up to $1.75 million in financing, has now lapsed. The Company further confirmed that it is in continuing discussions with Anchor Securities with respect to the raising of financing for Global Mineral Investments, LLC's ("GMI") proposed gold mining operations in Sinoe County, Liberia. These discussions include the extension of the original term sheet and the possibility of the parties securing an NI 43-101 compliant technical report that would analyze and estimate the levels of mineralization of GMI's Liberian concessions. Venga currently holds a 4% equity interest in GMI.This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that may cause the Company's results to differ materially from expectations and speak only as of the date hereof.
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Contacts:
Venga Aerospace Systems Inc.
Hirsh Kwinter
President
(514) 489-7175
Email: deepfocusart@rogers.com
