Hot off the news front, looking forward to what happens next. Hopeful for an increase, wonder if the short interest traders are finally out? Exciting to watch either way.
PHOENIX, ARIZONA – (Disclosure & News Service – October 4, 2018) – PetroSun, Inc (OTC PINK: PSUD) The Company announced today a corporate update to the September 25, 2018 announcement of the spin-off of Torus TechWorks, Inc, a wholly- owned subsidiary of PetroSun. The management of PetroSun views the spin-off of Torus TechWorks and its technologies as a means to enhance shareholder value and to bring these technologies into commercial use within the next few months.
The distribution of Torus TechWorks shares to the PetroSun shareholders of record at the close of business on October 25, 2018 will be at a ten-to-one ratio. Therefore, for each ten shares of the common stock of PetroSun held on the above-mentioned date and time, those PetroSun shareholders will be issued one share of the common stock of Torus TechWorks.
Torus TechWorks intends to list its securities with OTC Markets, but there is no assurance that this will be completed or if completed, when it will be completed.
The Company will provide additional details regarding the spin-off of Torus TechWorks in the future, including the financing of its operations and equipment.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “ongoing”, “plan”, “potential”, “predict”, “project”, “should”, “will”, “would”, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Market.com website.
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