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Simlatus No Longer Shell-Risk & Retires $1.7M in Convertible Debt

marketwirenews.com

SAN FRANCISCO, CA, June 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”), a company that operates multiple revenue streams in the CBD Industry, Major Broadcast Industry and Internet Provider Industry, announces today that Chairman and CEO, Richard Hylen, has provided the following statements.
Richard Hylen, Chairman and CEO, stated, “Simlatus Corporation is no longer considered a Shell-Risk by OTC Markets.  The Company’s most recent disclosure statements and Balance Sheet indicate satisfactory revenue and assets.  We need to prove to our shareholders and investors a vote of confidence by the Markets and that our Company is on a sound path for the future.
On June 3, 2019 the Company repurchased 18,159 shares of Series A at $1.79 per share from Optempus Investments.  This transaction prohibited the conversion of 3,250,000 common shares of stock.
Additionally, on June 13, 2019 the Company cancelled $2,200,000 in convertible Warrants in exchange of Preferred Series C stock having a value of $457,500 and a 6 month holding period with volume restrictions. This exchange and repurchase continues to support our corporate directive to reduce dilution and provide greater returns for the shareholders and investors of Simlatus Corporation.”
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or  obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Contact:Richard Hylen, CEO Tel: [phone]