CENTENNIAL, CO--(Marketwired - Mar 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.