Syncronys International announces its planned spinoff of wholly owned subsidiary, Lectric, along with the Seeker Technologies closing date of acquisition
MANDEVILLE, La., March 18, 2013 /PRNewswire/ — Syncronys International (OTC Pink: SNTL)
Syncronys International, Inc. is pleased to announce that shareholders of record, on a future record date to be determined, will receive shares of its wholly owned subsidiary Lectric. Lectric will soon thereafter apply to be publicly traded on the OTCQB. Rex Gay, Syncronys CEO said, “We wanted to reward all of our loyal shareholders of Syncronys as we proceed with acquisition of Seeker Technologies (Seeker-Tec).” “The Seeker-Tec acquisition is on schedule to close on March 29th. Shareholders will now own shares in two exciting, young public companies. I look forward to announcing additional developments, for both companies in the near future.”
Syncronys International will be paying a dividend consisting of shares of common stock of Lectric Inc. as a spin-off of SNTL. According to Rex Gay, Syncronys CEO, “The Company is pleased to provide current shareholders with the opportunity to be part of the alternative energy industry and its Seeker Tec business as well.
The sale, assignment and transfer to Lectric Inc. of all of that Corporation’s assets, business and operations as a going concern will be conducted at the date hereof and prior to the Corporation’s acquisition of Seeker Technologies Ltd. Syncronys, International, Inc. will pay dividend consisting of shares of common stock of Lectric Inc. The Corporation’s current stockholders will receive the distribution of such dividend. Expected effective date will be in time for a registration statement to be filed by Lectric Inc. pursuant to the Securities Act of 1933.
Lectric Inc. will be focused on sales, distribution and installation of a wide range of green energy products and applications. Lectric Power will sell and distribute power generation equipment for use in commercial, home and agricultural applications and solutions.
Syncronys International, Inc. will continue to expand its Seeker-Tec business as well as to explore other opportunities. Further, we plan to regularly communicate our progress to our shareholders.
Safe Harbor Statement
This release contains forward-looking statements that relate to future events or performance. These statements reflect the company’s current expectations and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. The company does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other company statements will not be realized. Furthermore, readers are cautioned that these statements involve risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from the forward-looking statements. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.
SYNCRONYS INTERNATIONAL, INC.
REX GAY, CEO
SOURCE Syncronys International, Inc.