Sylios Corp (OTCPK:UNGS) agreed to Spin-Off of 80.01% of The Greater Cannabis Company, LLC on December 28, 2016. The name of the spun-off entity will change from The Greater Cannabis Company, LLC to The Greater Cannabis Company, Inc. The shareholders of Sylios will receive 1 share of GCC common stock for every 500 shares of Sylios common stock owned. The transaction will be treated as a stock dividend. Sylios currently anticipates an ex-dividend date of February 10, 2017. Both dates are subject to change. As on January 6, 2017, the record date has been changed to February 3, 2017 with ex-dividend date at February 1, 2017. GCC will undergo a two-year audit during the month of January 2017 and then file its initial registration statement with the Securities and Exchange Commission to be a fully reporting company. Sylios plans on listing GCC on the OTCMarkets OTCQB market place. Post-split, GCC intends on filing a registration rights offering for its existing shareholders. The offering will give each shareholder the right to purchase additional units in GCC for a defined period of time. Shareholders will have the right to purchase additional units of GCC at a fixed price of $0.25 per unit for a total equity raise of $0.5 million. On February 22, 2017, Sylios entered into an anti-dilution agreement with The Greater Cannabis Company, Inc., whereby Sylios has the right to participate in future financing transactions with The Greater Cannabis Company, Inc. to avoid dilution of its ownership. On March 7, 2017, Sylios received notification from FINRA that they had received the necessary documentation to process the corporate action requested by Sylios and its transfer agent, Pacific Stock Transfer. The payment date was revised to March 10, 2017. Pacific Stock Transfer Company acted as transfer agent to Sylios. Sylios Corp (OTCPK:UNGS) completed the Spin-Off of 80.01% of The Greater Cannabis Company, LLC on March 10, 2017.