SOURCE: Alentus Corporation

February 15, 2011 13:13 ET

Alentus Corporation Announces New Investment and Sale of Subsidiary

LAS VEGAS, NV--(Marketwire - February 15, 2011) - Alentus Corporation (PINKSHEETS: ALNS), a web hosting, domain registrar, dedicated server, SaaS and E-Commerce hosting provider, today is announcing an investor purchase of its preferred stock and the sale of Alentus UK, a wholly owned subsidiary of Alentus Corporation.

Alentus has closed on $60,000 of its Series C-1 offering of preferred stock to a US investor. The Company may sell up to $1,000,000 of this issue. The preferred stock can convert in common stock at 80% of the 10 day average price or a .03 minimum and .08 maximum if purchased before June 30, 2011.

In addition, Alentus has sold its UK subsidiary; Alentus UK, to a group in the United Kingdom that would like to expand their presence there. The sale price is undisclosed but will result in a substantial reduction in accounts payable and an increase in notes receivable on the consolidated balance sheet of Alentus Corporation.

"The sale of Alentus UK will allow management to focus more of its efforts on the growing and more profitable North American operations and the exciting new products we will be launching," said William King, CEO of Alentus. "The cost savings we will realize from the sale coupled with the new investment in the company will allow us to aggressively grow our customer base through acquisition as well as organically."

About Alentus Corporation ( (PINKSHEETS: ALNS)
Alentus Corporation is a multinational, US based, Internet focused solution provider with a network of data and network operations center facilities in Canada, the United States and United Kingdom. The company provides a wide range of Internet based solutions under several brands. Under these brands Alentus provides solutions that include Microsoft Windows hosting, RedHat Linux website hosting, Sharepoint hosting, SQL and mySQL database hosting, Microsoft Exchange Hosting, Virtual Private Servers (VPS), dedicated server solutions, colocation, and domain name registration to thousands of small- to medium-sized companies and customized solutions to larger organizations including many Fortune 500 clients.

Forward-looking statements:
The statements made in this press release, which are not historical facts, may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.

Contact Information

  • Investor Relations Contact:
    William King
    Email Contact