Sylios Corp. (fka UNGS)

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New Filing today:

ITEM 1.01 Entry into a Material Definitive Agreement On April 30, 2014, the Company entered into definitive agreements with Asti Energy Corp for the disposition of certain assets currently operated by the Company's operating subsidiaries within the states of West Virginia and Kentucky. Included within the assets are certain leases covering mineral rights, oil and natural gas wells and ancillary facilities constructed by the Company for the delivery of natural gas in West Virginia. The Company has filed the required Bill of Sales, Assignments and Deeds with the designated County Clerks for the transaction. Terms of the transaction were not disclosed. The Company intends to use the proceeds from the sale of these assets to complete its recently announced acquisition, further expand the operations of its newly formed subsidiary, The Greater Cannabis Company, LLC, and to repurchase shares of its common stock under the Company's Share Repurchase Plan.