FINRA approves XcelPlus International’s 1-to-100 reverse stock split

Rhea-AI Summary

XcelPlus International Inc. (OTC PINK: XLPI) has announced a 1-for-100 reverse stock split effective July 26, 2021. This move is part of a recapitalization strategy to enhance the company's ability to acquire new technologies and intellectual property, aligning with its Energy That Cleans initiative. CEO Charles Robinson emphasized that this recapitalization will position XcelPlus as a leader in the waste-to-energy sector, anticipating significant announcements regarding their Cool Plasma technology in the near future.

Positive

• 1-for-100 reverse stock split may enhance stock price and market perception.
• Recapitalization strategy aims to facilitate acquisition of advanced technologies.
• Positioning as a leader in the waste-to-energy sector is expected to attract investors.

Negative

• None.

RENO, NV, July 23, 2021 (GLOBE NEWSWIRE) -- XcelPlus International Inc. (OTC PINK: XLPI) today announced a 1-for-100 reverse split of its outstanding common stock. The effective date of the stock split is July 26, 2021.

The reverse split initiates a recapitalization action that is part of XcelPlus International’s comprehensive effort to facilitate the acquisition of new technologies, including patents and other intellectual property, to complement the company’s Energy That Cleans^TM initiative.

“Completing this recapitalization will help position XcelPlus as a leader in the waste-to-energy industry” stated Charles Robinson, Chief Executive Officer of XcelPlus International. “We expect to be making several consequential announcements in the near future as we work diligently to bring our Cool Plasma^TM technology to the world.” 

Forward Looking Statements
Certain statements in this communication constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements of future expectations and events, future strategic objectives, business prospects and anticipated results. Forward looking statements can often be identified by words such as  “will,” “can,” “moving,” “expect,” and similar expressions and include, but are not limited to, statements regarding or relating to the company’s acquisition strategies, the company’s initiatives, the company’s positioning in the waste-to-energy industry, market acceptance of and demand for our products and services including Cool Plasma^TM technology, our ability to bring products, services and technologies to market and the ultimate success in the marketplace of such products, services and technologies. Forward-looking statements are not guarantees of future results and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied in such statements. These statements are based on management’s current views and assumptions, speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update any forward-looking statements for any reason, except as required by law.

Contact: Ian Douglass
Chief Communications Officer
info@xcelplusint.com
346-348-4034

FAQ

What is the purpose of the reverse stock split announced by XLPI?

The reverse stock split aims to enhance the company's market perception and facilitate acquisitions of new technologies.

When is the reverse split for XLPI effective?

The reverse stock split for XcelPlus International (XLPI) is effective on July 26, 2021.

What technologies does XLPI plan to acquire after the reverse split?

XLPI plans to acquire new technologies and intellectual property to support its Energy That Cleans initiative.

What is the future outlook for XLPI after the reverse stock split?

XLPI's CEO stated the recapitalization will position the company favorably in the waste-to-energy industry, with upcoming announcements on Cool Plasma technology.