Sincerity Applied Materials Holdings Corp (OTC) Issues Clarification Regarding False Claims and Blackmail Attempts by Mina Mar Group

Sincerity Applied Materials Holdings Corp (OTC) today clarifies its position regarding blackmail attempts made by Mina Mar Group, led by Miro Zecevic, and refutes the false claims associated with these actions. The company is committed to transparency and wishes to address the recent false accusations made by the group.

Background and Clarification on Blackmail Attempts:

SINC’s current management took over the company in September 2017 after a period of financial instability under the leadership of its former CFO, Nils Ollquist. At that time, the company was burdened with toxic convertible notes, taken as a fundraising method under the former CFO’s guidance, with the promise that a private placement would resolve these debts. However, just before the notes were due in early 2018, SINC was informed that the promised private placement would not materialize, forcing the company to raise $1.2 million from families and friends to repay the debt. Subsequently, CFO Nils Ollquist was terminated on March 2, 2018, and the company shifted direction.

In 2019, SINC engaged Mina Mar Group, which marketed itself as a broker for OTC shells and potential buyers for SINC’s controlling block of shares. After multiple failed attempts to secure a buyer and after a year of unsuccessful negotiations, SINC decided to withdraw its interest in selling and notified Mina Mar Group of its decision in November 2019. This decision was made in full compliance with the agreement’s provisions, including the required written notice.

On January 22, 2020, in response to losing the deal, Mina Mar Group filed a DFAN14A against SINC in an apparent act of retaliation. The DFAN14A filing lacked merit and failed to present a complete and valid argument for any claims made against the company. Recently, on October 5, 2024, Mina Mar Group escalated their attempts, falsely claiming on X.com (formerly Twitter) that they hold "200 or 300 million shares sitting dormant at various brokerages." SINC categorically denies these false accusations. Unless Mina Mar Group recently acquired these shares, it is impossible for them to hold such a position.

SINC encourages investors and the public to disregard these false claims. The company has not engaged in any agreements or activities that would allow Mina Mar Group to hold or control such a large number of shares.

Commitment to Transparency and Awareness:

SINC reiterates its commitment to maintaining transparency with its investors and the public. In line with OTC Market Groups' Stock Promotion Policy, SINC would like to clarify that it has not engaged in any stock promotional activities, nor does it have any plans to do so. Should any promotions occur, SINC will disclose them in a timely and transparent manner in accordance with OTC Market Groups' guidelines.

SINC remains focused on its operations and growth, committed to providing value to its shareholders while upholding the highest standards of business conduct.

About Sincerity Applied Materials Holdings Corp Sincerity Applied Materials Holdings Corp (OTC: SINC) is incorporated in Nevada, USA, specializing in applied materials and chemicals. With a strong commitment to innovation and quality, SINC aims to deliver superior products and services across various global industry verticals.

Forward-Looking Statements

This press release contains forward-looking statements that are based on current expectations, assumptions, estimates, and projections about Sincerity Applied Materials Holdings Corp and its industry. These forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those anticipated. The company disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Contact:

Yiwen Zhang, CEO Sincerity Applied Materials Holdings Corp

+61 4 2100 7277 /  ir@sincerityplastics.com

Note: The information provided in this press release is subject to change, and readers are advised to refer to the latest filings and updates on the SEC's website and OTC Markets for the most current and accurate information.