“In a move consistent with our strategic focus on logistics and EV technologies, Principal intends to spin-off our oil and gas activities into a new, separate company,” said
The new company will be led by Principal’s current COO,
“With its unique, eco-friendly approach to refurbishing and operating orphaned wells driven by burgeoning market demand for petroleum products, E-3 has the potential to deliver significant value while mitigating environmental damage,” said
The transaction is subject to customary conditions including but not limited to final approval by Principal Solar’s board of directors, the filing and effectiveness of a registration statement with the
Information regarding Principal’s E-3 Petroleum subsidiary may be viewed here: https://pswwenergy.com/e-3/
Mr. Lerner’s professional background is viewable here: https://pswwenergy.com/management-team/
About
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
Principal Solar Contact
Chairman and Chief Executive Officer
kt@pswwenergy.com
214.885.0032
Investor Relations Contact
invest@pswwenergy.com
Source:
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