SAN FRANCISCO, CA / ACCESSWIRE / June 12, 2023 / Quality Industrial Corp. (OTC:QIND), is a mergers and acquisitions company focused primarily on the Industrial and Oil and Gas sectors. Having prepared its preliminary application for review by the NYSE, the company is now finalizing the appointment of the Investment Bank that will underwrite its soon to be submitted New Stock Offering. Upon approval of the company's NYSE application and effectiveness of the Offering, QIND will immediately uplist to the NYSE American.
"We have made significant progress towards QIND's NYSE American listing and we wish to proactively keep Shareholders and those who are following our progress informed of steps taken and the steps we plan to take over the coming weeks. We look forward to announcing the appointment of our Investment Bank this week, filing our S-1 shortly thereafter, pressing on with our Roadshow and delivering this significant milestone for our QIND and ILUS Shareholders" added QIND CEO, John-Paul Backwell.
QIND wishes to update Shareholders and Interested Parties that it has taken or is currently in the process of taking the following steps towards its NYSE American listing:
- Preliminary Application for review by NYSE has been prepared in conjunction with appointed Capital Markets advisor
- New Stock Offering on S-1 Registration Statement has been prepared
- Company is preparing to appoint and announce the Investment Bank that will underwrite the Offering this week
- Roadshow commencing from late June 2023 through July 2023
- Preparation to appoint new QIND Chief Financial Officer with extensive International Capital Markets experience
- Finalizing appointment of Independent Board of Directors as required
- Following approval of NYSE American application, the uplist to NYSE American shall take place immediately upon effectiveness of the company's S-1 Registration Statement.
Nicolas Link chairman of QIND commented: "We anticipate that our roadshow and uplist to NYSE American will drive demand in our stock so that the underlying value of QIND will materialize for our Shareholders. The company's trailing P/E ratio is currently almost 4x below the median for its sector*. Our Board does not believe that QIND's full underlying value will be realized on OTC Markets, which is one of the key reasons why we keep our stern focus on uplisting QIND to the NYSE American."
*Trailing GAAP Price to Earnings Ratio was 5.09 for QIND compared to a sector median of 19.30 as of June 12, 2023.
This Press Release does not constitute an offer of any securities for sale.
FORWARD-LOOKING STATEMENTS
This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.
CONTACT
Quality Industrial Corp.
315 Montgomery Street, San Francisco
CA 94104, USA
Phone: +1-800-706-0806
Email: [email protected]
Investor site: https://qualityindustrialcorp.com
Twitter: @ QualityIndCorp @ILUS_INTL
SOURCE: Quality Industrial Corp.