- Principal Solar (OTCPK:PSWW) approves a plan to spin-off its E-3 Petroleum subsidiary into a separate public company focused on operating the company’s oil and gas leases.
- The new company will be led by the company’s current COO, Anthony Lerner.
“In a move consistent with our strategic focus on logistics and EV technologies, Principal intends to spin-off our oil and gas activities into a new, separate company. We feel that this transaction will increase stakeholder value while enabling each organization to exclusively focus on its core capabilities.” said K. Bryce “Rick” Toussaint, CPA, MBA, Principal’s Chairman and CEO.
Principal Solar to separate its oil and gas subsidiary
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| Symbol | Last Price | % Chg |
|---|---|---|
| PSWW | - | - |
| Principal Solar, Inc. | ||