US Nuclear Corp – Cali from Above Restructuring

Rhea-AI Summary

On March 3, 2023, US Nuclear Corp (UCLE) sold its interest in Cali from Above, a drone services company, to its President and CEO, Robert Goldstein. UCLE received 65,000,000 shares in Averox, Inc. (OTC: AVRI), making it the owner of approximately 26% of AVRI's outstanding shares. Goldstein believes Cali from Above can thrive as a separate public entity in the growing drone industry. A Cooperation Agreement was also established, granting USN exclusive rights to source and manufacture Cali products, enhancing its customer base.

Positive

• Acquisition of 65 million shares of Averox, increasing ownership to 26%.
• Signing of a Cooperation Agreement for exclusive sourcing and manufacturing rights.

Negative

• None.

LOS ANGELES, CA, March 27, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- On March 3, 2023, US Nuclear Corp (UCLE) sold its interest in Cali from Above, a private company engaged in the business of UAV/drone sales and drone services, located in Canoga Park, California to its President and Chief Executive Officer, Robert Goldstein, in consideration of UCLE receiving 65,000,000 shares of common stock in Averox, Inc. (OTC: AVRI) resulting in UCLE owning approximately 26% of issued and outstanding shares of common stock in AVRI. Mr. Goldstein commented, “We believe that Cali from Above has high potential and can better serve the fast-growing drone industry in a separate public company.” Simultaneous with the closing of this agreement, Mr. Goldstein sold his interests in Cali from Above to AVRI as part of the restructuring. USN and Cali from Above have also signed a Cooperation Agreement giving USN exclusive sourcing and manufacturing rights for Cali products, thus making Cali a new USN customer.

About Averox:

Previously, Averox had been primarily a software development company. Now Averox’s goal is to become a leader in important growth industries.

About Cali from Above:

CALI specializes in buying and selling drones, also affixing drone accessories and drone payloads. Also pilot training, drone inspection of wind turbines, solar panels, construction jobs, and many other purposes or missions.

Safe Harbor Act

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Investors may find additional information regarding US Nuclear Corp. at the SEC website at http://www.sec.gov, or the company’s website at www.usnuclearcorp.com

CONTACT:

US Nuclear Corp. (OTC-QB: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Richard Landry, Chief Financial Officer
(818) 883 7043
Email: info@usnuclearcorp.com
http://usnuclearcorp.com

FAQ

What did US Nuclear Corp (UCLE) announce on March 3, 2023?

UCLE announced the sale of its interest in Cali from Above to its CEO, Robert Goldstein, receiving 65 million shares in Averox, Inc. (OTC: AVRI).

How much of Averox, Inc. does US Nuclear Corp own after the transaction?

After the transaction, US Nuclear Corp owns approximately 26% of the issued and outstanding shares of Averox, Inc.

What is the significance of the Cooperation Agreement signed by US Nuclear Corp?

The Cooperation Agreement grants US Nuclear Corp exclusive sourcing and manufacturing rights for products from Cali from Above, establishing it as a new customer.