PHOENIX, ARIZONA – (Disclosure & News Service – May 30, 2018) – PetroSun, Inc (OTC PINK: PSUD) The Board of Directors of PetroSun Inc (“PetroSun” or “the Company”) is pleased to announce that TorusMed Inc, a wholly owned subsidiary of PetroSun will spin-off and distribute all outstanding shares of the common stock of TorusMed to the PetroSun shareholders of record as of June 15, 2018. TorusAg, Inc, a wholly-owned subsidiary of TorusMed will remain a subsidiary of TorusMed after the spin-off.
TorusMed is currently distributing cannabidiol (“CBD”) oil and related products through a License and Distribution Agreement with Indicaid, Inc. TorusAg will cultivate industrial hemp in Arizona under recently enacted State of Arizona legislation scheduled to take effect in the fall of 2019.
PetroSun is in the energy sector and has no on-going synergies with the business of TorusMed. The management of PetroSun wants to provide value to its shareholders and the opportunity for TorusMed to finance its operations independently from
PetroSun. The Company will provide additional details of the spin-off as it becomes available.
PetroSun, Inc. 480-425-4290