PHOENIX, ARIZONA – (Disclosure & News Service – September 25, 2018) – PetroSun, Inc (OTC PINK: PSUD) The Board of Directors of PetroSun Inc (“PetroSun” or “the Company”) announced today that Torus TechWorks, Inc, a wholly-owned subsidiary of PetroSun, will be spun-off and a future distribution of the outstanding shares of the common stock of Torus Techworks will be made to the PetroSun shareholders of record as of the close of business on October 25, 2018. PetroSun previously announced the Company’s strategy to drive its next phase growth by consolidating technologies into a spin-off to allow for increased focus and engage symmetry in like technologies.
Torus TechWorks is focused on the current commercialization of its water purification, cryogenics, solar and thermal energy, material separations, transportation and other technologies that possess a symbiotic relationship with these technologies.
PetroSun is fully engaged in the exploitation of its helium, crude oil, natural gas and lithium resources and views the spin-off of Torus TechWorks as providing value to its shareholders. This action will also provide Torus TechWorks with the opportunity to finance its operations independently from PetroSun.
The Company will provide additional details regarding the spin-off in future releases.
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