CENTENNIAL, CO - (Uptick Newswire - March 31, 2017)
- AlumiFuel Power Corporation (OTC
PINK: AFPW) ("AlumiFuel" or the "Company")
today announced it has engaged a full-service boutique investment
banking firm to secure acquisition capital for the Company.
The Company has identified several potential acquisition targets
as it transitions to a profit and cash flow focused holding
company. The Company recently issued a Letter of Intent to acquire
Meds R Us, a medical marijuana dispensary in Vista, CA, and is in
the process of completing final due diligence. Additionally, the
Company is in late stage negotiations for the potential acquisition
of a profitable digital media business.
Ryan Schadel, CEO of AlumiFuel, stated, “We are developing a
robust pipeline of potential deal flow. The Company will need to
raise a substantial amount of cash in a non-toxic manner to execute
on the ambitious plan we are putting together. I’m pleased we’ve
been able to attract a FINRA licensed investment bank with over two
decades experience in the capital markets to assist with our
capital raising efforts. I look forward to executing on our
acquisition plan and furthering our balance sheet restructuring
efforts.”
The Company also reported it is in talks to raise non-dilutive
capital to fund a potential share buyback.
About AlumiFuel Power Corporation
AlumiFuel, operating through its wholly owned subsidiaries, is
transforming into a diversified holding company under new
leadership and is expected to be renamed Phoenix Equity Holdings
Corporation. The Company is exploring several revenue producing
acquisition opportunities as it works to build a robust cash flow
stream. AlumiFuel currently operates three divisions in the
multi-billion dollar temporary staffing industry and holds patented
technology for hydrogen generation through its wholly owned
subsidiary, NovoFuel.
Safe Harbor for Forward-looking
Statements:
This news release may contain forward-looking statements
that are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. While these
statements are made to convey to the public the company's progress,
business opportunities and growth prospects, they are based on
management's current beliefs and assumptions as to future events.
However, since the company's operations and business prospects are
always subject to risk and uncertainties, the forward-looking
events and circumstances discussed in this news release might not
occur, and actual results could differ materially from those
described, anticipated or implied. For a
more complete discussion of such risks and uncertainties, please
refer to the company's filings with the Securities and Exchange
Commission.
CONTACTS:
AlumiFuel Power Corporation
641-715-3900 x385402
SOURCE: AlumiFuel Power
Corporation
SOURCE: Uptick Newswire