Astra Energy (OTCQB: ASRE), a renewable and waste-to-energy project developer and technology acquisition company, has announced that it will move forward with the process of listing subsidiary Regreen Technologies Inc., or Spinco, on a senior U.S. exchange with an accompanying IPO or to spin-out Regreen into an existing company on a senior U.S. exchange. The move was unanimously approved by the company’s board of directors. Regreen Technologies offers its exclusive Regreen Total Waste System, which is a patented series of equipment and processes featuring specialized technology designed to convert solid waste material into a marketable product through the cleanest measures and without causing damage to the environment. According to the announcement, Astra would distribute the common shares of Spinco to Astra’s shareholders, who will ultimately own shares in two public companies: Spinco and Astra. Spinco will focus on the manufacturing, licensing and distribution of equipment based on the Regreen patented technology, while parent company Astra continues the development of its clean and renewable energy projects abroad and the advancement of the Holcomb Energy Systems initiatives.
“We believe the spin-out of Regreen Technologies will be very beneficial to shareholders as it will unlock the value of the technology assets by allowing it to be developed separately by a skilled and focused management team, and it will allow our shareholders to own shares in two companies,” said Astra Energy CEO Ron Loudoun in the press release. “This further demonstrates our commitment to significantly enhance shareholder value with another move in a series of corporate actions designed to enhance shareholder protection and unlock fair value of our asset. We recognize the challenges investors face in today’s market climate and will continue to be aggressive in order to achieve fair market value for our assets and to protect shareholders.”
To view the full press release, visit https://ibn.fm/YcSmN
About Astra Energy Inc.
Astra Energy is an integrated solutions provider investing in and developing clean and renewable energy projects in markets where demand is high, supply is limited and there is an opportunity to address other imminent market needs. Astra’s corporate strategy is rooted in securing technologies and assets; identifying viable market opportunities; and bringing together resources, expertise, technology and defined action plans to execute first-in-class projects that benefit communities, local economies, the planet and the company’s investors. The company’s goal is to create a more secure and sustainable power sector that supports its purpose, mission and values to transform the economic, environmental and social landscape for generations to come. For further information about the company, visit www.AstraEnergyInc.com.
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