Exosphere Aircraft Co., Inc. Announces Agreement and Plan of Mergerwith Freedom Grill May 06, 2010 09:04 AM Eastern Daylight Time   TEMPE, Ariz.--(EON: Enhanced Online News)--Exosphere Aircraft Co., Inc. (Pink Sheets: EXSA) announced today that it has executed an Agreement and Plan of Merger (“Merger Agreement”) with Freedom Grill. Under the terms of the Merger Agreement Freedom Grill, a California corporation with a principal place of business in Poway, CA, is merging 100% into a newly formed subsidiary of EXSA, wherein Freedom Grill remains as a wholly owned subsidiary of EXSA, with the management of Freedom Grill taking the management positions within EXSA, concurrent with closing. Steve Caliguri, President of Freedom Grill, said, "We are thrilled to take the next step in joining with EXSA to complete the merger requirements and move forward with our business plans for 2010 and beyond." This merger will enhance Freedom Grill's opportunity to gain additional brand recognition, greater market share and increase shareholder value. About Freedom Grill Freedom Grill, Inc., founded on July 4, 2002, designs and provides innovative products and accessories for the tailgating, camping and outdoor activities markets. The Company has combined the sizzle of the fast growing specialty automotive aftermarket with America's hunger for better cooking indoors and out. Headquartered in Poway, California, the Company's innovative market entry product, the Freedom Grill FG-100(TM), was an easily transportable, high-performance gas grill designed for the Extreme Tailgating crowd. The FG-50 "ride outside" tailgating grill was the first grill designed specifically to look and perform great on the back of a vehicle as well as a tabletop or cart. The grills mount to any standard tow hitch for maximum versatility. With the barbecue grill mounted outside the vehicle, there's more room inside for gear, food, or passengers. The swing away arm and high quality gas grills make Freedom Grills the ideal accessories for trucks, SUVs and RVs. The FG-50 grill is now marketed under the Margaritaville brand name through a licensing deal with Sunbeam, Jarden Consumer Products. Freedom Grill continues to sell accessories and trailer sized tailgating grills under the Freedom Grill brand name and is planning the release of a new grill later this year. With "The Official Grill of Tailgating(TM)" cooking outdoors has never been more convenient. Freedom Grills are perfect for tailgating, camping, fishing & hunting, and even home grilling on decks, patios, or backyards. For real barbecue aficionados Freedom Grill even offers an award winning line of Fire Brand Grilling Sauces. The Company's products are sold through specialty BBQ retailers, sporting goods stores and hardware stores. For more information on Freedom Grill, Inc., please visit the Company's website at www.freedomgrill.com Forward-Looking Statement: The statements in this press release regarding any implied or perceived benefits from the Merger with Freedom Grill are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, our ability to complete the Merger, the ability to coordinate the management of EXSA with that of Freedom Grill, the continued operation of Freedom Grill, costs of operations, continued maintenance of Freedom Grill, risks and effects of additional governmental regulations, future financial and operational results, competition, general economic conditions, and the ability to manage and continue the growth of Freedom Grill. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents we file from time to time with the Pink Sheets. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For further information, please contact: Exosphere Aircraft Company Email: EXSAinformation@Yahoo.com Contacts For Freedom Grill, Inc. Steve Glor, 858-513-8332 or SmallCapVoice.com, Inc. Stuart T. Smith, 512-267-2430 Info@smallcapvoice.com Permalink: http://eon.businesswire.com/news/eon/20100506005580/en