Sylios Corp Announces Record Date for Spin-Off of AMDAQ Corp

ST. PETERSBURG, FL / ACCESSWIRE / August 29, 2017 / Sylios Corp (OTC PINK: UNGS), a holding company with operations engaged in the exploration and development of oil and natural gas properties, site specific real estate development, holdings in equities, corporate debt and alternative investments is pleased to update shareholders of important dates pertaining to the spin-off of the Company’s wholly owned subsidiary, AMDAQ Corp (f/k/a E 2 Investments, LLC)(the “Subsidiary”).

On August 25, 2017, the Company filed a Notice of Conversion with the State of Florida to effectively convert the Subsidiary from a limited liability company to a Florida for profit corporation. In addition, Articles of Incorporation were filed changing the name of the Subsidiary to AMDAQ Corp. Within the Articles, two classes of stock were designated. The first being Common stock with 250 million shares authorized and the second being Preferred stock with 5 million shares authorized.

The Record Date for the stock dividend is set at September 15, 2017, with a tentative Payment Date of October 2, 2017. The final Payment Date will be determined by the Financial Industry Regulatory Authority (“FINRA”). In order for Sylios shareholders to receive the stock dividend, shareholders must own shares of Sylios Corp as of the close of the Record Date. Sylios Corp’s common stock will begin trading ex-dividend at the open on September 16, 2017.

Shareholders of Sylios Corp entitled to receive the dividend will receive 1 share of AMDAQ common stock for every 750 shares of Sylios Corp common stock owned. In lieu of issuing fractional shares in connection with the stock dividend, the company will round fractional shares up to the next whole share. In a supplemental filing with OTC Markets dated August 28, 2017, the Company incorrectly gave a ratio of 1 share of AMDAQ per 1000 shares of Sylios Corp.

The Company’s transfer agent, Pacific Stock Transfer, will distribute shares of AMDAQ on the Payment Date to certificated shareholders. Shareholders are not required to submit any information to the Company’s transfer agent to receive the newly issued AMDAQ shares of common stock. Pacific Stock Transfer will also act as the transfer agent for AMDAQ.

Shareholders should direct any questions pertaining to the stock dividend to dividend@sylios.com. The Company will establish an information page that will go live tomorrow at the following address http://www.sylios.com/amdaqstockdividend, with details on the transaction.

Business Plan for AMDAQ

AMDAQ’S current operations concentrate around alternative investments through a variety of avenues:

Buying and selling of domestic equities
Purchase of third party debt issued by publicly traded entities
Purchase of mineral rights
Direct Stock Purchase participation with other publicly traded entities
Consulting capacity
Direct funding to small and microcap companies through the issuance of debentures

The Company anticipates updating shareholders on potential acquisitions and new business ventures this week.

About Sylios Corp

Sylios Corp, based in St. Petersburg, FL, is a holding corporation with operations engaged in the exploration and development of oil and natural gas properties, holdings in equities, alternative investments, corporate debt and site-specific real estate development. www.sylios.com

Forward Looking Statements and Disclaimer

Statements made in this press release that express the Company or management’s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will” and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company’s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company’s forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company’s future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues or results of operations. Additional risks and uncertainties are set forth in the Company’s Unaudited Annual Report for the year ended December 31, 2016, which can be found on the OTC Markets website, www.otcmarkets.com.

Contact:

Sylios Corp
(727) 482-1505
info@sylios.com

SOURCE: Sylios Corp

ReleaseID: 474029