Clarifies That The Company Will Be Issuing Additional Restricted Shares To Holders Of Common Stock As Of December 10, 2021.
NEW YORK, NY / ACCESSWIRE / October 6, 2021 / Green Stream Holdings Inc. (OTC PINK:GSFI) ("the Company") (https://greensolarutility.com), an emerging leader in the solar utility and finance space, recently announced that its Board of Directors has approved a special stock dividend (the "Distribution") to Green Stream Holdings Inc. stockholders of one share of restricted common stock for every 100 shares of common stock presently owned. After the announcement was released on October4, 2021 the Company received some questions about the procedure regarding transaction. This press release is meant to address that shareholder question.
The Company restated that, On October 1, 2021, the Board of Directors of Green Stream Holdings, Inc. (the "Company") authorized a stock dividend of one (1) share of the Company's common stock, par value $0.001 par value (the "Common Stock"), for each one hundred (100) shares of Common Stock held on December 10, 2021 (the "Record Date"). In response to shareholder reaction, the Company reiterates that this transaction is an issuance of additional shares from the company to each shareholder who holds a minimum of 100 shares on the Record Date. Those shareholders will receive: "… one (1) share of the Company's common stock, par value $0.001 par value (the "Common Stock"), for each one hundred (100) shares of Common Stock held on December 10, 2021..."
The Distribution will take place in the form of a pro rata common stock dividend to each Green Stream stockholder of record on the Distribution Date. No action is required by the applicable shareholders.
No fractional shares of common stock will be distributed. Instead, Green Stream stockholders will receive a number rounded to the next highest number. The Distribution is intended to qualify as tax free to Green Stream stockholders for U.S. federal income tax purposes.
No vote or action is required by Green Stream's stockholders in order to receive the Distribution, which is subject to certain customary conditions, which conditions are expected to be satisfied on or prior to the distribution date.
About Green Stream Finance, Inc.
Green Stream Finance, Inc., a solar utility and finance company with satellite offices in Malibu, CA and New York, NY, is focused on exploiting currently unmet markets in the solar energy space, and is currently licensed in California, Nevada, Arizona, Washington, New York, New Jersey, Massachusetts, New Mexico, Colorado, Hawaii, and Canada. The Company's next-generation solar greenhouses constructed and managed by Green Rain Solar, LLC, a Nevada-based division, utilize proprietary greenhouse technology and trademarked design developed by world-renowned architect Mr. Antony Morali. The Company is currently targeting high-growth solar market segments for its advanced solar greenhouse and advanced solar battery products. The Company has a growing footprint in the significantly underserved solar market in New York City where it is targeting 50,000 to 100,000 square feet of rooftop space for the installation of its solar panels. Green Stream is looking to forge key partnership with major investment groups, brokers, and private investors in order to capitalize on a variety of unique investment opportunities in the commercial solar energy markets. The Company is dedicated to becoming a major player in this critical space. Through its innovative solar product offerings and industry partnerships, the Company is well-positioned to become a significant player in the solar space.
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Green Stream Finance, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Green Stream Finance, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
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SOURCE: Green Stream Holdings Inc.