One OTC stock that has started to look increasingly interesting is Clean Vision Corp. (OTC US:CLNV). The company’s main operating segment is “Clean-Seas”, which engages in pyrolysis waste-plastic conversion technology – it takes plastics out of the environment and turns them into a range of useful substances in the energy industry.
The path for waste-plastic as a major source of energy over coming decades is already established. But no one has put together the infrastructure to monetize that thesis until CLNV.
Clean-Seas has already started to scale up the operation, but recent messaging from the company suggests it is on its way to dominating this market with recent deals in Morocco and Malaysia.
Shareholder Friendly
As a sign of confidence, the company announced this morning that its Board of Directors has declared a special dividend of five shares of the Company’s common stock for every one hundred shares of Common Stock issued and outstanding.
According to the company’s release, on February 16, 2023, the Board approved the Dividend and set the record date for the Dividend as February 27, 2023 and the payment date as March 13, 2023.
As noted by management, the Dividend will be distributed on the basis of five shares of Common Stock for every 100 shares of Common Stock owned on the Record Date, with any fractional shares rounded down to the shareholders’ lower 100-share amount owned.
The Dividend Shares will carry a standard restrictive legends, which means the Dividend Shares may not be resold until they are ‘aged’ and/or registered in a suitable registration statement. Clean Vision’s officers, directors, five percent-or-higher shareholders, and certain employees or consultants are subject to the same if not greater resale restrictions.
The release notes that the majority of shareholders will receive their respective portion of the Dividend Shares directly via their broker or investment firm that holds investment on their behalf in street name. Shareholders whose shares are registered directly with the Company’s transfer agent (EQ Shareowner Services) will receive the Dividend Shares via EQ by mail.
In other words, there are still ten days left before the record date. And shareholders of record as of the Record Date do not need to take any action whatsoever to receive the Dividend Shares and are encouraged to consult with their financial planning professional, accountant or licensed stockbroker with any questions regarding the individual disposition of their dividend shares.
Dan Bates, the company’s CEO, said, “We are happy to announce the Board has declared this special dividend to recognize and appreciate the support our shareholders have displayed throughout the early stages of the Company’s growth. Now, as we enter the next phase for our strategic long-term plans, we wanted to acknowledge and reward the shareholders for their support and confidence in the team at Clean Vision.”
Scaling Up
One reason for that increasing confidence is the fact that Clean Vision Corp. (OTC US:CLNV) recently announced that Clean-Seas signed a definitive agreement to acquire 51 percent of Morocco-based Ecosynergie Group to continue the rapid scale-up.
The deal stands to set up Clean-Seas with a new operation in Morocco turning waste plastic into valuable energy goods. Amont those outputs will be CLNV’s proprietary AquaH™ clean hydrogen fuel.
Commenting on the transaction, Mohammed El Abbassi, ESG Director and General Manager, said, “Our team believes this transaction is a big win for Morocco and for everyone involved. Combined with the Clean-Seas team and its capital commitment, we anticipate having the resources needed to reduce waste-plastic economically and profitably, while creating jobs and producing clean fuels to help offset higher energy prices.”
CLNV CRO, Dan Harris, added, “This transaction is a terrific start to 2023, and we couldn’t be happier with our partners in Morocco. Everyone involved with this project is committed to its success, not just financially but for the positive impact it will have on the environment and the local community.”
