Sylios Corp Updates Shareholders on Operations

ST. PETERSBURG, FL / ACCESSWIRE / May 21, 2015 / Sylios Corp (OTC Pink: UNGS), a holding corporation with operations engaged in the exploration and development of oil and natural gas properties, real estate development, equity investments and the development of products utilized for the medical and recreational marijuana industry is pleased to provide shareholders with an update on operations.

The Company recently filed its September 30, 2014 Quarterly Report, December 31, 2014 Unaudited Annual Report,  March 31, 2015 Quarterly Report and an Attorney Letter with Respect to Current Information to bring the Company current in its filings with OTC Markets. On May 19, 2015, the Company’s status with OTC Markets was elevated to “Current Information”.

In respect to its recently announced marina development, the Company is currently interviewing and requesting bids from three marina developers for the build-out phase. Permits are still on schedule for submission to the required regulatory agencies. In addition, the Company is in its final stages of due diligence for a second marina development in Aventura, FL. The project allows for the development of ten dockominiums housing yachts from 80-100′ in length. Projected gross sales range between $2.5-3.0 million. Two of the four required permits are in hand, substantially decreasing the amount of time before construction can begin. The Company will make its final determination prior to month’s end as whether to close on the transaction.

The GCC Superstore remains under construction with progress being made weekly. The Company has added one additional tier-1 supplier for products ranging from vaporizers, grinders and other accessories. Additional suppliers will be added as the Superstore comes closer to opening. The Company’s current projection is for a July 4th Grand Opening for the GCC Superstore. The Company will be providing a detailed update on the automated dispensing kiosk the week of June 1st.

The Company has elected to place its Kentucky oil and gas operations up for sale to generate the required capital needed for its marina development(s) project and its cannabis division. By doing so, the Company will divert itself from raising capital through dilutive means.

Wayne Anderson, President of Sylios Corp, noted, “I am pleased to be able to provide shareholders with an update on all operational fronts. Each of the projects detailed will have an impact on the Company’s revenue in the second half of 2015 and through 2016.”

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, real estate development, equity investments and the development of products utilized for the medical and recreational marijuana industry. More information can be found at the Company’s corporate website at www.sylios.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company’s Unaudited Annual Report for the year ended December 31, 2014, which can be found on the OTC Markets website, www.otcmarkets.com.

Contact:

Sylios Corp
(727) 821-6200
info@sylios.com

SOURCE: Sylios Corp

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