PHOENIX, ARIZONA—(Disclosure & News Service – July 13, 2017) – PetroSun, Inc (OTC PINK: PSUD) announced today that the Company has acquired Torus TechWorks, LLC, a Delaware limited liability company, whose primary assets are energy related technologies. The terms of the transaction consists of ten million shares of PetroSun restricted common stock and ten million shares of PetroSun stock warrants at twenty cents per share. The stock warrants are exercisable for a period of eighteen months.
Torus TechWorks current assets include Sonoran Dish Energy, LLC, Sonoran CryoDesal, LLC, Emerald Energy NW, LLC, TorusMed, LLC and Torus MediaWorks, LLC.
PetroSun previously executed an exclusive license agreement covering the oil and gas industry from Sonoran Dish Energy and Sonoran CryoDesal. The acquisition of Torus TechWorks will allow the Company to become fully involved in the broad spectrum of uses for both the solar thermal, 24-hour power generation and thermal driven desalination technologies. Torus TechWorks holds a fifty percent equity interest in Sonoran Dish Energy and Sonoran CryoDesal.
The Torus TechWorks agreement to acquire a twenty percent interest in Emerald Energy NW provides PetroSun a direct involvement in the proprietary methods of purification and liquefaction of helium gas mixtures. The modular and mobile design of the Emerald Energy helium processing plant allows for a higher efficiency and expedited timeline for the commissioning of the facility. The initial helium processing plant will be located in the Holbrook Basin of Arizona and is scheduled to commence operations during the second quarter of 2018.
TorusMed (medical research and development) and Torus MediaWorks (publishing, music and film) are both assets outside of PetroSun’s core energy related businesses. The management of PetroSun is considering other options for these assets in the near future.
PetroSun, Inc. 480-425-4290