Sollensys Corp.’s Largest Shareholder Cancels Shares for Acquisition to Increase Share Value

Sollensys Corp. (OTCQB:SOLS) announced that in connection with the recently completed acquisition of the South Korean touch screen panel manufacturer that its largest shareholder cancelled 200,000,000 common shares which offset the issuance of 200,000,000 common shares for the acquisition. The company has approximately 100,000,000 shares in the float and 400,000,000 restricted shares including the shares issued for the acquisition.

Frank Woo, the CEO of Sollensys Corp. stated, “We were pleased that the largest shareholder cancelled shares to offset the amount issued in the acquisition. We did not want the outstanding shares to increase or the public shareholders to suffer any dilution due to the acquisition. We intend to bring substantial value to our shareholders.”

See Sollensys.com and Sollensys.co.kr for additional information.

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