DOVER, DE / ACCESSWIRE / June 12, 2020 / Pacific Green Technologies, Inc. (the "Company" or "PGTK") (OTCQB:PGTK) announces that it has been made aware and requested by the OTC Markets Group to comment on recent trading and promotional activity concerning PGTK's common shares. The Company has been informed that this promotional activity coincided with higher than average trading volume in the Company's stock. The Company became aware of the promotional activities on June 4, 2020.
The Company hired consulting firm, GP528 Corp. ("GB528 Corp.") to provide introductions and an advertising campaign for the Company whereby GP528 Corp. would provide written content regarding the Company based on previously filed and disclosed press releases and corporate information that was provided to GP528 Corp. This information had previously been made available to the public in the Company's regulatory filings and is also posted on the Company's website. The Company requested that GP528 Corp. provide a draft of the proposed advertisement prior to release and the content was reviewed by the Company for accuracy in regards to the Company's information. The Company was not aware of the distribution prior to it occurring and had not seen the editorialized portion of any proposed release. Further, the Company did not become aware that GP528 Corp. had sub-contracted out any portion of the work GP528 Corp. was engaged to provide until June 4, 2020.
The Company's recent press releases and filings have reported on, and provided disclosure of, legitimate and ongoing corporate activity only, and are not part of any promotional activities or campaign. The Company encourages those interested in the Company to rely solely on information included in its press releases combined with its EDGAR filings, and disclosures made with OTCMarkets Group. In addition, PGTK strongly urges any prospective investors to obtain advice from a qualified investment professional prior to making any investment in the Company.
The following is a list of the third party investor relations providers engaged in the last twelve months, including each entity engaged during this period, the date they were engaged and a summary of services provided:
- GB528 Corp.: GB528 Corp. was engaged by PGTK as a consultant to assist the Company with introductions to Investment Banks, high net-worth individuals and family offices, as well as to manage specific targeted investor marketing. GB528 Corp. has been paid US$250,000 by PGTK in the twelve months preceding June 4, 2020.
- Catalyst Global, LLC. ("Catalyst"): Catalyst was engaged by the Company, with principal responsibilities (i) to jointly arrive at objectives with PGTK with respect to investor relations and financial relations and to develop and implement programs to achieve those objectives; (ii) to advise PGTK with respect to investor relations and financial policies, opportunities and problems; and (iii) at PGTK's request, provide additional services for special projects. Catalyst was engaged by PGTK on November 26, 2018 for a period of one year, with the agreement automatically renewing for successive one year periods unless not renewed in writing 60 days prior by either party. Catalyst has been paid US$118,000 by PGTK in the twelve months preceding June 4, 2020.
- Sana Group, Inc. DBA CEO Roadshow ("CEO Roadshow"): CEO Roadshow was engaged by PGTK to provide strategic consulting in the areas of investor relations, public relations and marketing, with principal responsibilities (i) to produce investor media including Executive interviews and video news releases; (ii) to provide a targeted distribution network; and (iii) to facilitate virtual roadshows with financial advisors and stock brokers. CEO Roadshow was first engaged by PGTK for on November 28, 2018, and continues to be retained by the Company. CEO Roadshow has been paid US$19,000 by PGTK in the twelve months preceding June 4, 2020.
The Company made direct inquiries with its officers, directors and controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) and has confirmed that none of these parties have directly or indirectly (other than as disclosed herein) been involved with the creation, distribution, or payment of promotional materials related to the Company and its securities.
Additionally, the Company made direct inquiries of its officers, directors and controlling shareholders and the Company can also confirm that none of these parties have sold or purchased PGTK's securities in the past 90 days, with the exception of Scott Poulter, a director and officer of the Company, who disposed of 40,000 shares of common stock on March 19, 2020 in an off market transaction. The Company confirms that it has not issued convertible securities allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
The Company feels that while certain statements made in the marketing materials were arguably promotional, the information pertaining to the Company were in fact accurate statements based upon the Company's previously filed and disclosed information and were not false or misleading.
About Pacific Green Technologies, Inc.
Pacific Green Technologies, Inc. (PGTK) is focused on addressing the world's need for cleaner and more sustainable energy. The company's strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting-edge technologies designed to meet the growing market for renewables and increasingly stringent environmental standards.
For more information, visit PGTK's website:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659
SOURCE: Pacific Green Technologies, Inc.
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Released June 12, 2020