It's the Galaxy Ray Gun, and it "SHOOTS LOUD CAPS". The art's ripping off elements of the Star Wars (A New Hope) style C movie poster (my all-time favorite SW poster, by the way). Here's a picture from the back of the Episode IV DVD box for reference.
On the gun itself it says, "1979 Made By Redondo". On the bottom left half of its card it says, "EDGE MARK MINI-GUN SERIES".
On the bottom right of the card it shows an illustration of how to load the gun.
Then, running across the very bottom of the card it says, "Made in Spain exclusively for Edge Import Corp., Mt. Vernon, N.Y. 19550 [the "9" in "19550" might be an 8 or a 0, it's hard to tell.] Copyright 1979".
On the back, as with many other bootlegs and knockoffs, it's plain cardboard. The card has been punched/ indented with multiple diagonal rows.
There's a bunch of SW knockoff cap guns out there, each one weirder than the last. This same Redondo gun has been put onto a different card which says "GALAXIA". And hey, ever see the infamous "Galaxi Spacial" card that shows an image of Darth Vader holding a head? I'm talking a bodiless head.