POWAY, Calif., Sept. 10, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Solar Integrated Roofing Corporation (OTC PINK: SIRC) announced today that the Company is retiring 20 million of its common shares.
Dave Massey, CEO of SIRC, commented, "We are in a period of aggressive and unprecedented growth at SIRC and are committed to keeping the outstanding share count at a level to increase shareholder value."
Massey continued, "our plan calls for the issuance of stock to complete certain acquisitions. In order to maintain shareholder value, I am directing the retirement of 20 million of my personal shares in the company."
Finally, Massey commented, "I want to ensure current and future shareholders' are not diluted by the issuance of shares to complete the growth by acquisition plan. I can think of no better way to demonstrate to our shareholders and to the market, the absolute faith and optimism I have in the company and our strategy."
About Solar Integrated Roofing Corporation
Solar Integrated Roofing Corporation (SIRC) is an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally. For more information, please visit:
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Source: Company press release.