LOS ANGELES, Oct. 22, 2019 (GLOBE NEWSWIRE) -- The Board of Directors of Graphene & Solar Technologies Ltd. (“Graphene”) (QB “GSTX”) announced that, following approval by OTC Markets Group, the Company’s common shares commenced trading on QB on September 19, 2019.
Roger May, Executive Chairman of Graphene, commented: “We are very pleased that several months of sustained effort by our Executive Management team has achieved the GSTX Uplift for GSTX from the 'Pink Sheets' to now be trading on the OTCQB."
This major achievement combined with the recent SEC approval of The Company’s Form S-1 Registration Statement effectively clears the path for development of a sustained and viable liquidity platform for funding our several ongoing production initiatives. Additionally, we believe that QB status will enhance access to additional funding to meet capital requirements arising both from development of several clean energy initiatives, in addition to the aggregation of manufacturing and processing facilities for graphene and affiliated next generation technology, which will represent the backbone of our product matrix as GSTX moves forward.
The Form S-1 Registration Statement provides for GSTX to issue up to 25 million new free trading shares at face value of up to $4 dollars per share to assist with fundraising efforts.
Appointment of New GSTX CEO
As part of our initiative to reposition and strengthen our management team, The Company has recently engaged Nils Ollquist as CEO. Mr. Ollquist is a seasoned banking and finance industry professional with over 30 years experience. He has spent the past 25 years executing a variety of senior executive roles in international banking in the US, Asia and Australia, the most recent being Head of Mergers & Acquisitions for Bank of America in Hong Kong, as well as initiating and managing a variety of investments in the technology, packaging and mining industries in Asia. After graduating with degrees in Economics and Law from the Australian National University in Canberra, Mr. Ollquist spent 5 years in the Australian Federal Treasury in a variety of roles in the Revenue, Loans & Investment Division, culminating in the position of Senior Executive Assistant to the Department Head, Sir Frederick Wheeler and a period of time seconded to the office of the Federal Treasurer.
Mr. May concluded: “This press release represents the leading edge of a new sustained communication program on behalf of our shareholders as the Company embarks on a program to capitalize on its technical experience and resources to establish a key role in energy and technology markets worldwide.
SEC Filings Web Links
Web-links to SEC Form 8K filings regarding the above:
https://www.otcmarkets.com/filing/conv_pdf?id=13653942&guid=XWXSUq7q12JBPth & https://www.otcmarkets.com/stock/GSTX/disclosure
About
Graphene & Solar Technologies has a proven ability to produce solar and electronics grade high purity quartz sand (HPQS), an essential material for the manufacture photovoltaic (PV) Solar Cells, semi-conductors, and high-end electronics. GSTX also owns two rare High Purity Quartz mineral deposits (15 million tons), feedstock for the manufacture of HPQS.
The Company has recently expanded its solar industry initiatives to focus upon the early stage development of graphene enabled solar modules and panels via strategic joint ventures with the graphene producers and research & development centers.
Company Contact: Roger May
| 88 Lorimer Street, Docklands | WELLS FARGO BANK Building, St 600, |
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| Email: [email protected] | Email: [email protected] |
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Safe Harbor Statement
Except for the historical information contained herein, certain of the matters discussed in this communication constitute “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995. negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.
