Principal Solar, Inc.
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Principal Solar and Brookmount Explorations, Inc. (BMXI) Enter into an MOU for a Strategic Business Combination
DALLAS, TX / ACCESS Newswire / May 28, 2025 / Principal Solar, Inc. (OTC PINK:PSWW) (“Principal” or “the Company”), a strategic investor in, and acquirer of, organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors. It is also an investor in, and acquirer and operator of, undervalued petroleum-producing properties, today confirmed that its Board of Directors recently voted to enter into discussions with BMXI for a strategic business combination that will include assets to be contributed from BMXI in exchange for stock of Principal.
In keeping with the terms of the Memorandum of Understanding entered into with BMXI, The Board of Directors has voted to form a subsidiary to spin out certain legacy assets and liabilities of Principal, prior to closing of the merger, and seek a business investor to aid in the continued support and development of green tech assets of Principal.
The management of BMXI and Principal have been involved in discussions concerning the proposed transaction since last year and believe that the proposed transaction is in the best interests of the shareholders of both companies.
CEO K. Bryce Toussaint, MBA, CPA, Chairman of Principal Solar stated, “We were deliberate in seeking a potential merger partner who shared our vision of delivering shareholder value and developing assets that can be utilized in the supply chain for green energy tech.”
“Minerals such as gold, are used in that supply chain. We are fortunate to have found a management team with a history of developing commercial quantities of minerals and generating revenue,” Toussaint said.
Gold plays a crucial role in renewable energy systems due to its exceptional conductivity. Gold is used in photovoltaic solar cells and wind energy systems, enhancing the efficiency of energy transmission, making renewable energy systems more efficient and reliable.
Mr. Toussaint continued: “Brookmount’s North American gold assets, which are exclusively located in the high quality Tintina Gold Belt across Canada and Alaska, all represent excellent opportunities for low cost entry to production status in the near future, with further expansion being considered through acquisition of additional gold prospects in the Southern United States.
We believe that acquisition of this high quality portfolio of gold properties will provide great opportunities for our collective shareholders, particularly as non-recourse, project type financing can be used to fund both development to production, and additional resource assessment and confirmation through further drill programs. Clearly, with the current upward trajectory of the gold price, amid continuing global uncertainty, the timing for an acquisition such as this is attractive”.