Great Rock Acquires Pioneering Autonomous Robotics Company
TORONTO, September 24, 2015 /PRNewswire/ --
Great Rock Development Corp. (OTC: GROC) is pleased to announce the acquisition of Cyberworks Robotics Inc., a pioneer in the autonomous robotics industry.
About Cyberworks Robotics
Cyberworks Robotics brings a wealth of experience and knowledge to Great Rock as it is an established leader in the Automation Industry and has the technological reach to target several vertical markets.
These include, but are not limited to, automation of the industrial cleaning and wheel chair markets. The industrial cleaning market alone is the largest prospective industry for deployment of fully autonomous robots and is an area in which we believe Cyberworks Robotics has a dominant position having created the worlds first robotic cleaners that had international sales starting in the late 1980's. Additionally;
• In 1984 Cyberworks Robotics demonstrated the world's first autonomous robot which could navigate and work in unknown areas without any apriori teaching or map learning - it was the world's first truly autonomous mobile robot.
• Cyberworks Robotics developed the world's first robotically assisted electric scooter for the disabled in 1991 with then industry leader Everest & Jennings.
As part of the acquisition Great Rock is to issue 160,000,000 restricted common shares and 400,000 super voting shares to the shareholders of Cyberworks Robotics.
Capital Structure
In follow up to our September 11, 2015 and September 15, 2015 press releases, Great Rock has finalized the cancellation of a total of 120,000,000 shares of common stock and through the divestiture eliminated all but approx. $14,000 of debt. Post acquisition the new total issued & outstanding share amount is 247,520,269 issued common shares. The float is estimated at approximately 38,000,000 shares consistent with the past 3 years.
Management looks forward to sharing more information on our progress through timely news releases and email updates.
To be added to the Great Rock mailing list email [email protected] with GROC in the subject.
About Great Rock Development
The global marketplace demands efficiency. At Great Rock we design and implement a variety of solutions, including automation in order to streamline labor and energy costs while improving speed and efficiency within the workplace. At Great Rock, our business solutions span several industries. From agricultural fields to manufacturing and big box super-stores, and to remote mining operations, Great Rock will develop solutions to enhance the efficiency and cost structure of your business.
Disclaimer: Shareholders and investors are strongly cautioned against placing undue reliance on information set forth within this website and these communications in making any investment decisions concerning our securities. The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the Company's periodic reports filed with the OTCMarkets.com including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. Nothing within this site is meant to be a solicitation to buy or sell our securities. Investing in over the counter (OTC) securities often carries a high degree of risk. Please contact your financial advisor before investing in our securities.
Contact:
Great Rock Development Corp.
7 Jackes Avenue
Toronto ON Toronto M4T1E2
Canada
http://www.GreatRockDev.com
[email protected]
+1-416-568-9051
SOURCE Great Rock Development Corp.
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