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Solar Integrated Roofing Corp. Announces Amendment of Settlement Agreement with Brian Milholland and Milholland Family Trust LP
Solar Integrated Roofing Corp. Announces Amendment of Settlement Agreement with Brian Milholland and Milholland Family Trust LP.
About this update from Solar Integrated Roofing Corporation
[{"type":"text","content":"\n HENDERSON, Nev., Jan. 18, 2023 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC:SIRC), an integrated, single-source solutions provider of solar power, roofing and EV charging systems, today announced the amendment of its settlement agreement with Brian Milholland and Milholland Family Trust LP. “We are pleased that both parties were able to work together to restructure the timing and manner of payment of the amounts due to Milholland under our September 2022 settlement agreement,” said George B. Holmes, Chairman and Chief Executive Officer of Solar Integrated Roofing Corp. “I would like to thank Brian Milholland for working with us to modify the payment terms to alleviate the significant cash burden of our prior settlement obligations.” Pursuant to the renegotiated settlement, SIRC will discharge its remaining $7.0 million obligation to Milholland by the issuance of an aggregate of 40 million shares of common stock, the payment of $1.6 million in four equal installments following a significant capital raise by SIRC, and the reimbursement of expenses. About Solar Integrated Roofing Corp. Solar Integrated Roofing Corp. (OTC: SIRC) is an integrated, single-source solutions provider of solar power, roofing and EV charging systems, specializing in commercial and residential properties throughout North America. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. For more information, please visit the Company's website at www.solarintegratedroofing.com or join us on Twitter or LinkedIn. Safe Harbor / Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements in this press include, among others, statements about our renegotiate...