EL CAJON, CA - July 27, 2021 (Investorideas.com Newswire) Solar stock news from Investorideas.com Newswire and RenewableEnergyStocks.com - Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single-source solar power and roofing systems installation company, today announced the company has commenced a share buyback program to reduce dilution through a series of purchases to retire shares of its common stock.
The company is purchasing and retiring 5,000,000 shares of preferred stock, which is convertible to 50,000,000 shares of common stock, from Brian Milholland, who is retiring as President from Solar Integrated Roofing Corp. but will remain involved as a consultant to the company.
"In an effort to reduce dilution and drive shareholder value, the company will be making a series of share buybacks beginning with today's announced purchase of Brian's preferred shares. It's truly been a privilege to work alongside Brian, as his impact over the last year has been immeasurable in helping us build towards the company we are today. We will certainly miss his full-time support, though we appreciate his agreement to remain with us in a consulting role, where his knowledge and expertise can continue to guide us moving forward. We wish him the very best in retirement," commented Massey.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power and roofing systems installation platform company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
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