SINC Completes Acquisition of AgroShield LLC and Announces Major Patent Filing

Rhea-AI Summary

Sincerity Applied Materials Holdings Corp (SINC) has completed the acquisition of AgroShield , a prominent manufacturer serving various sectors in the USA. The deal involves SINC acquiring 100% of AgroShield's shares in exchange for 49,000,000 shares of SINC's common stock. This strategic move expands SINC's footprint in the applied materials and chemicals industry, particularly in agriculture and aquaculture markets.

Additionally, AgroShield, now a SINC subsidiary, has filed a patent for an innovative underwater vehicle delivery system incorporating SINC's Quantum Glass technology. The acquisition brings new management team members to SINC, including Richard W. Selby as Vice Chairman. A conference call is scheduled for August 1, 2024, to discuss the acquisition's impact and future plans.

Positive

• Acquisition of AgroShield expands SINC's market presence in agriculture and aquaculture sectors
• Patent filing for innovative underwater vehicle delivery system using SINC's Quantum Glass technology
• Addition of experienced management team members to drive growth and innovation
• Potential for new market opportunities in aquatic environmental remediation and swimming pool markets

Negative

• Issuance of 49,000,000 shares of SINC's common stock may lead to shareholder dilution

MELBOURNE, AUSTRALIA / ACCESSWIRE / July 22, 2024 / Sincerity Applied Materials Holdings Corp ("SINC"), a prominent player in the applied materials and chemicals industry, is pleased to announce the successful completion of its acquisition of AgroShield LLC, a prominent manufacturer and distributor serving the agriculture, aquaculture, bioproduct and waste management sectors in the United States of America. This acquisition underscores SINC's commitment to expanding its footprint and enhancing its portfolio through strategic growth initiatives.

Details of the Acquisition:

Transaction Overview: Under the terms of the agreement, SINC has acquired 100% of the issued and outstanding shares of AgroShield LLC. In exchange, the shareholders of AgroShield have received 49,000,000 shares of SINC's common stock. AgroShield Chairman and incoming Sincerity Vice Chairman, Richard Selby, stated, "The incorporation of Sincerity's Quantum Glass biofiltration media into our game-changing SNUVER AI filtration system (Patent Pending) create synergistic opportunities for advancing solutions in the global aquatic environmental remediation market, as well as expanding Sincerity's presence in the commercial and residential swimming pool market globally. These markets have tremendously exciting potential for SINC, and we will setup a separate business unit for these disruptive technologies."

Strategic Benefits: The acquisition enables SINC to enhance its capabilities in its unique Quantum Glass technologies, providing new market coverage for growth and innovation in the USA. AgroShield LLC's market presence in agriculture and aquaculture complements SINC's existing offerings and expands its reach into new markets. These markets create a solid foundation for excellent shareholder returns.

Patent Filing Announcement:

In addition to the acquisition, SINC is also pleased to announce that AgroShield, now a wholly owned subsidiary, has successfully filed an innovative patent after three years of dedicated research and development. The patent is filed for AgroShield's underwater vehicle delivery system that incorporates Sincerity's copper-infused Quantum Glass, and ionically charged biochar filtration media. This significant advancement in aquacultural technology underscores AgroShield's commitment to innovation and sustainability.

New Management Team Members:

SINC is also pleased to announce the appointment of the following new Sincerity team members:

• Mr. Richard W. Selby, Vice Chairman

• Mr. Jeffrey E. Randall, Sr. Vice President

• Mr, Christopher D. Abbott, Vice President of Product Development

• Mr. Kyle Fuson, Director of Marketing and Communications

• Ms. Tiffany Campbell, Public Affairs Manager

These appointments are integral to our strategic vision and will play a crucial role in driving SINC's market penetration, growth, and innovation in the coming years.

Upcoming Conference Call

Sincerity Applied Materials Holdings Corp (OTC PINK:SINC) will hold a conference call for shareholders, analysts, and prospective investors on Thursday August 1, 2024, at 4 pm EST. During the call, James Zhang and Richard Selby will discuss the impact of the acquisition, future plans, and take questions from guests via chat. Guests must RSVP at tiffany@agro-shield.com. This is a Microsoft Teams event and seating will be limited.

About Sincerity Applied Materials Holdings Corp Sincerity Applied Materials Holdings Corp (OTC: SINC) is incorporated in Nevada, USA, specializing in applied materials and chemicals. With a strong commitment to innovation and quality, SINC aims to deliver superior products and services across various global industry verticals.

About AgroShield LLC AgroShield LLC is a Wyoming-based corporation engaged in the manufacturing and distribution of products and technologies for the agriculture, aquaculture, and waste management industries. AgroShield provides innovative solutions to improve efficiency and sustainability in these critical sectors.

Forward-Looking Statements

This press release contains forward-looking statements that are based on current expectations, assumptions, estimates, and projections about Sincerity Applied Materials Holdings Corp and its industry. These forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those anticipated. The company disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Contact:

Yiwen Zhang, CEO Sincerity Applied Materials Holdings Corp
+61 4 2100 7277 / ir@sincerityplastics.com

Note: The information provided in this press release is subject to change, and readers are advised to refer to the latest filings and updates on the SEC's website and OTC Markets for the most current and accurate information.

SOURCE: Sincerity Applied Materials Holdings Corp.

View the original press release on accesswire.com

FAQ

What company did SINC acquire on July 22, 2024?

SINC (Sincerity Applied Materials Holdings Corp) acquired AgroShield , a manufacturer and distributor serving agriculture, aquaculture, bioproduct, and waste management sectors in the USA.

How many shares of SINC stock were issued for the AgroShield acquisition?

SINC issued 49,000,000 shares of its common stock to acquire 100% of the issued and outstanding shares of AgroShield

What new patent did AgroShield file after being acquired by SINC?

AgroShield filed a patent for an innovative underwater vehicle delivery system that incorporates SINC's copper-infused Quantum Glass and ionically charged biochar filtration media.

When is SINC's conference call to discuss the AgroShield acquisition?

SINC will hold a conference call on Thursday, August 1, 2024, at 4 pm EST to discuss the impact of the acquisition and future plans.