Sincerity Applied Materials Holdings Corp. (OTC:SINC) is pleased to announce the successful spin-off of its Agroshield division through a repurchase agreement with Richard Selby, the previous owner and management of Agroshield.
Under the terms of the agreement, Mr. Selby has acquired 100% of Agroshield’s membership interests in exchange for 318,790,000 shares of SINC, which he originally received for the merger. This transaction fully separates Agroshield from SINC, allowing both companies to focus on their respective growth strategies.
CEO Yiwen (James) Zhang stated:
"This strategic divestment aligns with SINC’s long-term vision, enabling us to focus on our core businesses, including the upcoming launch of our groundbreaking Quantum Glass filtration technology. We appreciate Richard Selby’s leadership of Agroshield and wish him success in the future development of the business."
Following the spin-off, SINC will no longer consolidate Agroshield’s financials, and all existing liabilities and operations of Agroshield will remain with the newly independent entity.
About Sincerity Applied Materials Holdings Corp
Sincerity Applied Materials Holdings Corp is a renowned player in the applied materials industry. The company is dedicated to advancing technological innovations and providing high-quality solutions to its global customer base. With a commitment to excellence and integrity, Sincerity Applied Materials Holdings Corp is poised for continued growth and success in the market.
For more information, please visit www.sincnano.com
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@sincnano.com
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