{"id":393977,"date":"2020-12-07T05:35:06","date_gmt":"2020-12-07T10:35:06","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393977"},"modified":"2020-12-07T05:35:06","modified_gmt":"2020-12-07T10:35:06","slug":"global-warming-solutions-inc-reaches-debt-elimination-agreement-with-creditors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/global-warming-solutions-inc-reaches-debt-elimination-agreement-with-creditors\/","title":{"rendered":"GLOBAL WARMING SOLUTIONS INC. REACHES DEBT ELIMINATION AGREEMENT WITH CREDITORS"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">Jacksonville, Florida, Dec.  07, 2020  (GLOBE NEWSWIRE) &#8212; Global Warming Solutions Inc. (OTC MARKET: GWSO) &#8211; a developer of technologies aimed at mitigating the effects of global warming &#8211;\u00a0is pleased to announce a significant transaction that will materially improve its balance sheet and represents a key step in unlocking the Company\u2019s potential to deliver its future growth strategy. The company reached an agreement with creditors that will completely eliminate the debt in the amount of $527,000 owed to them by the Company. The Company won\u2019t issue any shares to the debt holders under the terms of this agreement.<\/p>\n<p align=\"justify\">This is the second major improvement to the company&#8217;s Balance Sheet since November 2020.\u00a0 In November, the Company\u2019s CEO Vladimir Vasilenko canceled 12 million of his shares representing approximately a 30% increase in shareholder value.<\/p>\n<p align=\"justify\">Vladimir Vasilenko stated, \u201cThis is the best position the Company has been in.\u00a0 With the share cancellation and debt elimination, we have reversed any potential for shareholder dilution.\u00a0 With the capital structure simplified it creates material value for the Company\u2019s shareholders and positions the Company to take advantage of future organic M&amp;A opportunities.\u201d<\/p>\n<p>To learn more about Global Warming Solutions, Inc. Visit:\u00a0<strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=hoNTLdzMkQfx2aWtDXFwqkjvq6IPXMRP7hvyaPtE2EhJTxyGjAZfGpTr7oV2hzY1BsbLdM-XGzaYd6wc1k5U8RQag7AeNrK_hDNC2o85YII=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>http:\/\/www.gwsogroup.com<\/u><\/a><\/strong><\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company\u2019s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company\u2019s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: potential, expect, look forward, believe, dedicated, building, or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC) available at\u00a0<strong><u>www.sec.gov<\/u><\/strong>\u00a0and on the Company\u2019s website at\u00a0<strong><u>https:\/\/www.gwsogroup.com<\/u><\/strong>.<\/p>\n<p>Contact:<\/p>\n<p>Vladimir Vasilenko<br \/> CEO<br \/> Global Warming Solutions, Inc.<br \/><strong><u>Vladimir@gwsogroup.com<\/u><\/strong><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5Nzc0NiMzODU5MjMxIzIyMDE0MjM=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/252e072e-8ab4-4bca-bc37-2746e2ff2a8f\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Jacksonville, Florida, Dec. 07, 2020 (GLOBE NEWSWIRE) &#8212; Global Warming Solutions Inc. (OTC MARKET: GWSO) &#8211; a developer of technologies aimed at mitigating the effects of global warming &#8211;\u00a0is pleased to announce a significant transaction that will materially improve its balance sheet and represents a key step in unlocking the Company\u2019s potential to deliver its future growth strategy. The company reached an agreement with creditors that will completely eliminate the debt in the amount of $527,000 owed to them by the Company. The Company won\u2019t issue any shares to the debt holders under the terms of this agreement. This is the second major improvement to the company&#8217;s Balance Sheet since November 2020.\u00a0 In November, the Company\u2019s CEO Vladimir Vasilenko canceled &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/global-warming-solutions-inc-reaches-debt-elimination-agreement-with-creditors\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GLOBAL WARMING SOLUTIONS INC. REACHES DEBT ELIMINATION AGREEMENT WITH CREDITORS&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-393977","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GLOBAL WARMING SOLUTIONS INC. 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(OTC MARKET: GWSO) &#8211; a developer of technologies aimed at mitigating the effects of global warming &#8211;\u00a0is pleased to announce a significant transaction that will materially improve its balance sheet and represents a key step in unlocking the Company\u2019s potential to deliver its future growth strategy. The company reached an agreement with creditors that will completely eliminate the debt in the amount of $527,000 owed to them by the Company. The Company won\u2019t issue any shares to the debt holders under the terms of this agreement. This is the second major improvement to the company&#8217;s Balance Sheet since November 2020.\u00a0 In November, the Company\u2019s CEO Vladimir Vasilenko canceled &hellip; Continue reading &quot;GLOBAL WARMING SOLUTIONS INC. REACHES DEBT ELIMINATION AGREEMENT WITH CREDITORS&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/global-warming-solutions-inc-reaches-debt-elimination-agreement-with-creditors\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-07T10:35:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5Nzc0NiMzODU5MjMxIzIyMDE0MjM=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/global-warming-solutions-inc-reaches-debt-elimination-agreement-with-creditors\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/global-warming-solutions-inc-reaches-debt-elimination-agreement-with-creditors\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"GLOBAL WARMING SOLUTIONS INC. 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