Publicly-held AgriSolar Solutions (OTCMKTS:AGSO) on October 1, 2021 announced entering merger agreement with APE Titan NRG Inc, wholly owned subsidiary of Titan NRG Partners LLC.
The merger will ensure AgriSolarbeing the surviving corporation and changing name to Titan NRG, Inc. The officers will continue with Alex R. Majalca Jr. as the President and Chief Executive Officer while Henry Vargawill be Secretary/Treasurer as well as Chief Financial Officer. Furthermore, Ginger Cunningham will be a part of Board of Directors soon.
Post-merger, the company will be operating as holding firm for subsidiaries of Titan NRG: NRG Dynamics, Vespene, APE Fuels and NRG Rail. The firm’s post-merger operations will be a downstream energy as well as transportation company.
Presently, there are over 20+ transports in 9 states, retail propane serving southern AZ with 1500+ leased tanks, wholesale purchasing as well as sales with Vespene besides a long-term lease on fresh 18 car rail facility in Tucson.
Alex Majalca, Chief Executive Officer, said that the focus in upcoming weeks would be to streamline operations and apply for name as well as ticker symbol changes with FINRA. The CEO added that the company’s goal is to list on OTCQB and it has retained services of an auditor for helping in accomplishing this.
Market Reaction:
On Friday, AGSO stock soared 20% to $0.48 with more than 573K shares, compared to its average volume of 147K shares. The stock has moved within a range of $0.3610 – 0.4925 after opening the trade at $0.40.
