newsfilter
← Latest News
GlobeNewswire·

Powerus Receives Pakistan Ministry of Defence Order and Signs Strategic Memorandum of Understanding

PUSA
  • Powerus received a limited procurement order from Pakistan's Ministry of Defence for unmanned aerial systems & associated support.
  • The order expands Powerus's international defense business, with no other terms disclosed.
  • A strategic memorandum of understanding was signed to frame potential expanded cooperation in unmanned & autonomous systems.
  • The memorandum is non-binding, creates no purchase obligation, & requires definitive agreements & government approvals for any future programs.
  • A Powerus delegation led by Co-Founder Brett Velicovich met with Pakistan's Chief of Army Staff, Field Marshal Syed Asim Munir, at General Headquarters in Rawalpindi.
  • Powerus has entered a definitive merger agreement with Aureus Greenway Holdings Inc. (NASDAQ: PUSA), subject to customary closing conditions.
  • Under the merger terms, Powerus will be the surviving entity & AGH will adopt the name "Powerus Corporation."
  • The merger is expected to close in the fourth quarter of 2026, pending regulatory approvals & customary conditions.
  • AGH has filed a Form S-4 registration statement with the SEC regarding the proposed business combination.