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.
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