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.
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