Principal Solar Releases Shareholder Update

Rhea-AI Summary

Principal Solar, Inc. (OTC Pink: PSWW) provided a shareholder update highlighting its upcoming special board strategy meeting and the finalization of the Double-H Services acquisition. The meeting will focus on adding key executives to the management team and exploring non-dilutive financing options. Additionally, opportunities for its oil and gas subsidiary, E-3 Petroleum, are being evaluated in light of high oil prices. Chairman and CEO K. Bryce “Rick” Toussaint emphasized the board's commitment to growth and stakeholder value.

Positive

• Finalization of Double-H Services acquisition may enhance operational expertise.
• Focus on non-dilutive financing strategies could prevent shareholder dilution.
• Potential opportunities for E-3 Petroleum in high oil price environment.

Negative

• None.

Topics Include Upcoming Special Board Strategy Meeting, Finalization of Double-H Services Acquisition, Exploration of New Initiatives, More

DALLAS, TEXAS, March 17, 2022 (GLOBE NEWSWIRE) -- Principal Solar, Inc. (OTC Pink: PSWW) (“Principal” or “the Company”), a strategic investor in organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in undervalued petroleum-producing properties, today released a shareholder update from K. Bryce “Rick” Toussaint, CPA, MBA, the Company’s Chairman and CEO.

Fellow Shareholders,

Thank you for the opportunity to share this update regarding Principal’s recent and upcoming activities. So far, 2022 has been a busy year for the Company, with more activities ahead.

I have scheduled a special meeting of the board for a planning session at the end of this month in which we plan to discuss a range of topics and strategic initiatives. The meeting will be held in Enid, Oklahoma, where PSWW’s board will be attending along with  members of Double-H Services’ management team.

With the recent finalization of the terms of Principal’s acquisition of Double-H Services (“Double-H”), we have a number of related items on our meeting agenda. I plan for us to discuss the contractual terms of potentially adding two key Double-H executives to Principal’s management team and at least one Double-H equity owner to our board of directors. These individuals have the potential to bring significant trucking and logistics expertise to the Company.

During the meeting, we also plan to explore additional avenues to finance future transactions via debt and other structures, including legal joint ventures. As stakeholders, Principal’s management is keenly interested in prioritizing potentially non-dilutive financings.

In recent news, Principal’s board also met to to discuss initiates for its oil and gas subsidiary, E-3 Petroleum, Inc. (“E-3”). The board feels that in an extended period of high oil and gas prices, 2022 and 2023 may offer significant opportunities for E-3. To that end, Principal has engaged Petry Rosie & Sinex, P.L.L.C , a Houston-based law firm with significant energy sector provenance to assist the Company in executing its strategic initiatives.

I’m proud of the work the board is doing at Principal Solar. We remain committed to driving growth and delivering value for our customers, partners, and stakeholders, and I look forward sharing our progress as we continue to execute our strategic initiatives.

Onward!

Sincerely,

K. Bryce “Rick” Toussaint, CPA, MBA
Chairman and CEO
Principal Solar, Inc.

About Principal Solar
Principal Solar is a strategic investor in organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer and operator of undervalued petroleum-producing properties.

For further information, please visit the Company’s website at www.pswwenergy.com. 

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 
The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe PSWW' hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWWs' control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with PSWWs' most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by PSWW.

Principal Solar Contact
K. Bryce “Rick” Toussaint, CPA, MBA
Chairman and Chief Executive Officer
kt@pswwenergy.com

Investor Relations Contact
Michael Briola
invest@pswwenergy.com

FAQ

What are the key points from the Principal Solar press release dated March 17, 2022?

The press release discusses the finalization of the Double-H Services acquisition, an upcoming special board meeting to strategize, and the exploration of financing options for future transactions.

What does PSWW plan to discuss in the special board meeting?

The board meeting will address strategic initiatives, adding key executives from Double-H Services, and exploring financing avenues.

How might the acquisition of Double-H Services affect PSWW?

The acquisition is expected to bring significant trucking and logistics expertise, potentially enhancing operational capabilities.

What opportunities is PSWW exploring for its subsidiary, E-3 Petroleum?

PSWW is evaluating significant opportunities for E-3 Petroleum given the current high oil prices.

How does PSWW plan to finance future transactions?

PSWW is interested in non-dilutive financing strategies, including legal joint ventures.