QIND Appoints Investment Bank, Files Preliminary Schedule 14C Information Statement, and Provides S-1 Filing Update.

SAN FRANCISCO, CA / ACCESSWIRE / June 23, 2023 / Quality Industrial Corp. (OTC:QIND), is a mergers and acquisitions company focused primarily on the Industrial and Oil and Gas sectors. Earlier this week, the company appointed a prominent investment bank to act as its exclusive lead managing underwriter in connection with the sale of its common stock in a firm commitment public offering with a concurrent listing of the Company's common stock on the NYSE American. The company confirms that it plans to file its S-1 Registration Statement for the underwritten offering as well as its preliminary application for review by the New York Stock Exchange (NYSE) within the next 10 business days. Today, the company filed its preliminary Schedule 14C Information Statement following authorization by its Board of Directors for a reverse split of QIND's stock under the condition that it may only be accomplished for the purpose of and at the same time as listing of the Company's common stock on a National Exchange.

The Process

QIND has prepared its preliminary application for review by the NYSE and is now finalizing its S-1 Registration Statement for the underwritten offering. The S-1 is expected to be filed within the next 10 business days, during which the Investment Bank will be revealed. Upon approval of the company's NYSE application and completion of the offering, QIND intends to list to the NYSE American. If required in order to meet the bid price requirement for listing to the NYSE American, the company will affect the authorized reverse stock split simultaneous to its listing on the Exchange.

Investment Bank

QIND has exclusively appointed a New York headquartered Investment Bank to act as the lead managing underwriter in connection with the sale of the company's common stock in a firm commitment public offering and concurrent listing on a U.S. National Securities Exchange. The company's Capital Markets Advisor, Exchange Listing LLC is collaborating with the Investment Bank on the financing and listing of QIND.

"We are pleased to appoint a prominent Investment Bank to assist with our NYSE American listing. Having been impressed by the team's exemplary track record, their overall management experience and proactivity, we are confident that they are the right partner for this listing as well as our broader strategy." said QIND CEO, John-Paul Backwell.

S-1 Registration Statement

QIND expects to file an S-1 Registration Statement for the sale of its common stock in a firm commitment public offering and concurrent listing on a U.S. National Securities Exchange within the next 10 business days. The offering shall be for an amount of gross proceeds of up to approximately $7 million. Coinciding with the filing of the S-1 Registration Statement, QIND will submit is preliminary application for review by the NYSE.

Reverse Stock Split

Having today filed the required Schedule 14C Information Statement, QIND has given notice that its Board of Directors authorized a reverse split of the company's stock which may only take place in order to list QIND's common stock on a National Exchange and very significantly, the reverse split may only take place at the same time as the company's common stock is listed on a National Exchange.

The reverse stock split will have no immediate effect on the company's current value, as its market capitalization shall remain the same after it is executed. A reverse stock split has no direct effect on the total dollar value of a stockholder's shares.

QIND's Board of Directors will determine the ratio for the reverse stock split, if required, having authorized a range of 1-for-2 and not more than 1-for-20, thus providing the company with the flexibility to achieve the desired results of the reverse stock split. Upon receiving a market effective date from FINRA and following approval of the company's NYSE application as well as effectiveness of its S-1 Registration Statement, the company will choose the ratio required to meet or exceed the $2 bid price requirement for uplisting to the NYSE American. The reverse stock split will only take place if required at the time to meet the bid price requirement and is only authorized to take place for the purpose of as well as at the same time as uplisting to a National Securities Exchange.

QIND's Board and Management believe that the decision to authorize a reverse stock split only in connection with and simultaneous to a National Securities Exchange listing is in the best interests of the Company and its Shareholders. The company believes that QIND's share price is highly undervalued when compared to industry peers on core underlying valuation metrics as reflected by the company's audited annual and quarterly financial results. The company's Board and Management team unanimously agrees that listing on a National Securities Exchange will attract institutional investors to the company, with increased demand and liquidity as a result. Consequently, in order for the company to complete its eligibility for listing on a National Securities Exchange, the reverse stock split may be required. Furthermore, in an agreement signed with the company's Investment Bank, shares of QIND insiders will be locked-up for a period of six months following the company's listing on a National Securities Exchange.

"We firmly believe that an uplist to the NYSE American is in the best interest of our Shareholders. It is the optimal path for realizing the value we see in the company and for its expansion from a largely Middle Eastern operation with several Global Multinational Customers towards a fully Global operation servicing a much larger Global Customer base. We also plan to expand further into the Utilities and Industrial Manufacturing sectors, given that our company is one of very few globally which is fully certified to manufacture the scalable equipment and facilities required for hydrogen storage and power plants. This is a high demand, high growth sector, making listing on the NYSE American all the more important towards achievement of our growth objectives. It is exciting that we are taking very significant steps closer towards this milestone as well as towards even greater achievements by our company." Said QIND Chairman, Nicolas Link.

This Press Release does not constitute an offer of any securities for sale.

FORWARD-LOOKING STATEMENTS

This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.

CONTACT

Quality Industrial Corp.
315 Montgomery Street, San Francisco
CA 94104, USA
Phone: +1-800-706-0806
Email: info@qualityindustrialcorp.com
Investor site: https://qualityindustrialcorp.com
Twitter: @ QualityIndCorp @ILUS_INTL

SOURCE: Quality Industrial Corp.