Jacksonville, Florida, Dec. 07, 2020 (GLOBE NEWSWIRE) -- Global Warming Solutions Inc. (OTC MARKET: GWSO) - a developer of technologies aimed at mitigating the effects of global warming - is pleased to announce a significant transaction that will materially improve its balance sheet and represents a key step in unlocking the Company’s potential to deliver its future growth strategy. The company reached an agreement with creditors that will completely eliminate the debt in the amount of $527,000 owed to them by the Company. The Company won’t issue any shares to the debt holders under the terms of this agreement.
This is the second major improvement to the company's Balance Sheet since November 2020. In November, the Company’s CEO Vladimir Vasilenko canceled 12 million of his shares representing approximately a 30% increase in shareholder value.
Vladimir Vasilenko stated, “This is the best position the Company has been in. With the share cancellation and debt elimination, we have reversed any potential for shareholder dilution. With the capital structure simplified it creates material value for the Company’s shareholders and positions the Company to take advantage of future organic M&A opportunities.”
To learn more about Global Warming Solutions, Inc. Visit: http://www.gwsogroup.com
Forward-Looking Statements
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company’s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company’s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: potential, expect, look forward, believe, dedicated, building, or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC) available at www.sec.gov and on the Company’s website at https://www.gwsogroup.com.
Contact:
Vladimir Vasilenko
CEO
Global Warming Solutions, Inc.
Vladimir@gwsogroup.com