AGRISOLAR SOLUTIONS, INC. (AGSO) GRANTED DEFAULT JUDGMENT TO CANCEL 33,544,602 RESTRICTED SHARES OF ITS OUTSTANDING COMMON STOCK

Rhea-AI Summary

AgriSolar Solutions, Inc. (OTC PINK: AGSO) announced a court-ordered default judgment on October 7, 2021, to cancel approximately 33,544,602 restricted shares, representing 53% of its common stock. The 2nd Judicial District Court of Denver deemed these shares improperly issued. AgriSolar plans to notify EQ Shareowner Services to formalize the cancellation. CEO Alex Majalca Jr. expressed gratitude to shareholders and legal counsel, stating that this resolution may eliminate the need for a reverse stock split. Future updates will reflect the new share structure on OTC Markets.

Positive

• Court ruling allows for the cancellation of 33,544,602 restricted shares, improving the company's share structure.
• Elimination of the possibility of a reverse stock split, which may reassure investors.

Negative

• None.

Tucson, Arizona , Oct. 11, 2021 (GLOBE NEWSWIRE) -- Publicly-held AgriSolar Solutions, Inc. (OTC PINK: AGSO) ("AgriSolar") announces that it was granted a default judgment to cancel approximately 53% of its restricted shares of its issued and outstanding common stock. On October 7th, 2021 in the 2nd Judicial district court of Denver County, Colorado, the shares were deemed to have been improperly issued, and the court has ordered them to be canceled.

The Company will be sending a certified signed court order to EQ Shareowner Services (Equiniti) to formally cancel these shares. The Company profile on OTC Markets will be updated with the new share structure in the coming weeks.

Shareholders interested in viewing the signed court order authorizing the cancellation of these shares can do so on the Company’s OTC Markets page. https://www.otcmarkets.com/stock/AGSO/disclosure

AgriSolar CEO, Alex Majalca Jr., commented, “I’d like to thank our committed shareholder base for staying with us throughout this complex process. I would also like to thank our proficient team of attorneys at Hathaway & Kunz LLP for assisting us in navigating through this process. It’s been quite an undertaking.  When we’re able to get this process completed, I think it’d be safe to say that a Reverse Split will be off the table.”

About AgriSolar Solutions Inc.:
AgriSolar Solutions Inc,. (AGSO) has entered into a merger agreement with APE Titan NRG Inc., ("Titan NRG") a wholly owned subsidiary of Titan NRG Partners LLC. ("NRG Partners"). Under the terms of the merger, AgriSolar will be the surviving corporation, and it will change its name to Titan NRG, Inc. Following the merger, the surviving company will operate as a holding company for the following subsidiaries of Titan NRG: NRG Dynamics, APE Fuels, Vespene, and NRG Rail. The company’s post-merger operations, through its subsidiaries, will be as a downstream energy and transportation company. Consolidated, there are currently 20+ transports in 9 states, retail propane serving southern AZ with 1500+ leased tanks, wholesale purchasing and sales with Vespene, and a long-term lease on the new 18 car rail facility in Tucson, AZ., with 1.2mm gallons of propane/butane storage approved.

Contact:
Alex R. Majalca Jr. President/Chief Executive Officer
AgriSolar Solutions, Inc.
alex@titannrg.com

www.titannrg.com
www.twitter.com/agso_
www.twitter.com/nrgtitan
ir@titannrg.com                                                                              

NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at https://www.otcmarkets.com/stock/AGSO/profile Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties, and other factors, which may cause actual results, performance, or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should, and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.

Attachment

• $AGSO - AGRISOLAR SOLUTIONS, INC. (AGSO) GRANTED DEFAULT JUDGMENT TO CANCEL 33,544,602 RESTRICTED SHARES OF ITS OUTSTANDING COMMON STOCK

FAQ

What was announced by AgriSolar Solutions on October 11, 2021?

AgriSolar announced a court-ordered default judgment to cancel about 33,544,602 restricted shares of its common stock.

What percentage of shares were canceled by AgriSolar Solutions?

Approximately 53% of its restricted common stock shares were canceled.

What does the court ruling mean for AgriSolar Solutions' share structure?

The ruling improves the company's share structure by eliminating improperly issued shares.

Will AgriSolar Solutions conduct a reverse stock split?

The CEO indicated that a reverse stock split will likely be off the table following the cancellation of shares.

Where can shareholders view the court order from AgriSolar Solutions?

Shareholders can view the signed court order on AgriSolar's OTC Markets page.