Webstar Technology Group Inc. (WBSR) To Issue Stock As Dividend To Shareholders In Company That Is Positioned As A Player In The Emerging ECO Tech Market
Webstar Technology Group (OTCQB: WBSR) announced an Asset Purchase Agreement with Electrical Compression and Optimization (ECO), transferring certain assets in exchange for 201,057,278 common shares in ECO. These shares will be distributed to Webstar's shareholders on a 1-for-1 basis, with shareholders of record as of 5 PM June 21, 2024, set to receive this dividend.
The transaction positions Webstar shareholders in the emerging electrical compression technology market. CEO Don Roberts highlighted ECO's potential in enhancing battery life for electric vehicles and reducing global electrical consumption. The share distribution process is expected to complete by July 31, 2024.
- Webstar shareholders will receive a 1-for-1 stock dividend in ECO.
- ECO focuses on promising technology that could double electric car battery range and reduce electrical consumption by 50%.
- Webstar is selling certain assets, which may impact its core operations.
The Company Is Selling Certain Assets To A Private Company, Electrical Compression and Optimization, Incorporated ("Buyer") In Return For Shares In Buyer;
The Company Will Be Issuing Existing Shareholders Of Record As Of 5 PM June 21, 2024, Stock On A One 1-For-1 Basis Of Their Holdings, As A Dividend
JACKSONVILLE, FL / ACCESSWIRE / June 18, 2024 / Webstar Technology Group Inc. (OTCQB:WBSR), a software marketing and technology company that identifies, incubates and acquires exclusive rights to promising proprietary technology products and services and provides its shareholders access to participate in cutting edge technology opportunities, today announced it is entering into an Asset Purchase Agreement with a private company, Electrical Compression and Optimization, Incorporated, a Wyoming corporation ("ECO or Buyer") which will acquire certain of the Company's assets.
At the time of Closing of the Agreement, Buyer shall transfer to Seller Two Hundred One Million, Fifty-Seven Thousand Two Hundred Seventy-Eight Common Shares (201,057,278) through its transfer agent VStock Transfer LLC, to Seller for dividend distribution to Seller's common stock shareholders.
Electrical Compression and Optimization, Incorporated ("ECO") is a new company that is at the forefront of the emerging global Electrical Compression technology market.
Don Roberts, the CEO of the Company said: "Possible applications of the Enhanced Electrical Compression process could enable electric cars to double battery range and travel twice as far on a single charge (DC markets) and world-wide electrical consumption for homes and business (AC markets) could be reduced by
He continued: "ECO will initially develop Phase One ofthe DC power module for extending battery life (twice as many miles traveled on same charge) of electric vehicles of all varieties of voltages and applications. Phase Two will focus on compressing AC Power for homes and businesses all over the world."
This process should be completed by July 31, 2024 through VStock Transfer.
About Webstar Technology Group, Inc.
Webstar Technology is pioneering a new era of innovation that will unleash the power of the internet and global data delivery capabilities that have never before been realized. Our Warp-G Enterprise Software and Gigabyte Slayer mobile application are designed to increase data stream delivery well beyond existing 4G and projected 5G. Combined with our "Smart-Caching" encryption technology and advanced storage optimization capabilities, Webstar will provide disruptive global data delivery, storage, and protection capabilities for every business, every customer. Webstar Technology Group-"Transforming the Connected World through innovative technologies that help businesses thrive and enrich people's lives!"
For more information on Webstar Technology Group Inc. please go to our website: https://webstartechnologygroup.com
Forward Looking Statements Disclaimer: This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Webstar Technology Group Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such forward -looking statements include the words "vision," "seek", "grow", "plan" and other expressions of a forward-looking nature. More information about the potential factors that could affect the business and financial results is and will be included in Webstar Technology Group Inc.'s filings with the OTC Markets, Securities and Exchange Commission and/or posted on the company's website.
Contact:
Webstar Technology Group, Inc.
Don Roberts, CEO
904-312-9681
info@webstartechnologygroup.com
SOURCE: Webstar Technology Group, Inc.
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