Steele Oceanic Corp. (fka SELR)

[powerbattles]

SELR Acquisition of Global Seafood International, Inc. (GSI)

On October 1, 2016, the Company completed a Stock Purchase Agreement for GSI. As consideration for the transaction, the Company provided Global 2.0, 284,490 shares of Series B Convertible Preferred Stock. These Series B Preferred Shares are not subject to the reverse stock split discussed otherwise in this filing and would convert into 284,490 shares of common stock at the discretion of sellers of Global 2.0. In the event the sellers of Global 2.0 determined to convert their Series B Preferred Shares, based on the current issued and outstanding shares and shares reserved for issuance as of the date herein, would receive 9.48% of the issued and outstanding shares of common stock on a post-split basis. Steele Oceanic currently holds all the issued and outstanding shares of GSI.
GSI began its first year of business in 2016, operating primarily as a 'trading company', acquiring inventories at record low prices when many buyers were constrained by line of credit reductions or cut off completely and continues to engage in this business subsequent to the acquisition by Steele Oceanic on October 1, 2016.
Chilean Aquaculture and the Company's focus on the Southern Most Regions

In 2016, GSI developed a purchasing strategy focused on Salmon produced in the furthest south waters in Chile. This is a very significant and differentiable aspect of Steele Oceanic's business plan