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JACKSONVILLE, FL -- (Marketwire) -- 09/28/12 -- Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) -- Quasar is pleased to provide this update to its shareholders and the investment community. The following details recent issuances of securities to its officers and directors as well as changes in management structure we believe will be beneficial to the Corporation. We are extremely pleased to add Mr. Jimmie Carter as Chief Financial Officer to our management team. His past experience with public and private companies will enable us better detail our financial position to our shareholders.

Unregistered Sales of Equity Securities.

1. On February 7, 2012, Quasar Aerospace Industries, Inc. held a Special Meeting of the Board of Directors and unanimously adopted a resolution issuing four and a half (4,500,000) million common shares of Quasar Aerospace Industries, Inc. to Joseph Canouse and/or his assignees to be issued, distributed or reserved, in consideration of twenty-two thousand, five hundred and ninety-seven dollars ($22,597.00) as past personal contributions by Joseph Canouse and past services as Chief Executive Officer and earning due to him in the sum of ninety thousand dollars ($90,000.00); and

2. On February 7, 2012, the Board during the Quasar Aerospace Industries, Inc. Special Meeting of the Board of Directors recognized that Joseph Canouse assigned the four and a half (4,500,000) million common shares of Quasar Aerospace Industries, Inc. issued to him to Get Wings, Inc., a non-profit corporation which Joseph Canouse is establishing for the purpose of providing scholarships for Veterans and active duty military service member to allow these individuals to obtain FAA certifications and to service the local community.

3. On September 13, 2012, Quasar Aerospace Industries, Inc. held a Special Meeting of the Board of Directors and unanimously adopted a resolution issuing nine million (9,000,000) common shares of Quasar Aerospace Industries, Inc. to Joseph Canouse and/or his assignees to be issued, distributed or reserved, in consideration of past services as Chief Executive Officer for earnings due to him in the sum of forty-five thousand dollars ($45,000.00).

4. On September 26, 2012, Quasar Aerospace Industries, Inc. held a Special Meeting of the Board of Directors and unanimously adopted a resolution issuing five million (5,000,000) common shares of Quasar Aerospace Industries, Inc. to William Cirmo and/or his assignees to be issued, distributed or reserved, in consideration of past services as an officer of subsidiaries of Quasar Aerospace Industries, Inc. and now as Chief Operating Officer of Quasar Aerospace Industries, Inc. for earnings due to him in the sum of ten thousand dollars ($10,000.00).

5. On September 26, 2012, Quasar Aerospace Industries, Inc. held a Special Meeting of the Board of Directors and unanimously adopted a resolution issuing five million (5,000,000) common shares of Quasar Aerospace Industries, Inc. to Donnell J. Vigil and/or her assignees to be issued, distributed or reserved, in consideration of past services as Corporate Secretary and now as President of Quasar Aerospace Industries, Inc. for earnings due to her in the sum of ten thousand dollars ($10,000.00).

6. On September 26, 2012, Quasar Aerospace Industries, Inc. held a Special Meeting of the Board of Directors and unanimously adopted a resolution issuing two and a half million (2,500,000) common shares of Quasar Aerospace Industries, Inc. to Jimmie N. Carter and/or his assignees to be issued, distributed or reserved, in consideration for accepting the position as Chief Financial Officer of Quasar Aerospace Industries, Inc. in the sum of five thousand dollars ($5,000.00).