ALUMIFUEL POWER CORPORATION ANNOUNCES PLANS FOR BUSINESS
COMBINATION WITH DEVELOPER OF CYBER SECURITY SOLUTIONS
CENTENNIAL, CO -- August 27, 2015 -- InvestorsHub NewsWire --
AlumiFuel Power Corporation (OTCPink:
AFPW) (AlumiFuel or the Company), and ByteSentinel Partners,
LLC, a privately-held development-stage Texas-based Limited
Liability Corporation (ByteSentinel), announced their entry into a
non-binding Letter of Intent (LOI) and are moving toward signing a
definitive agreement within the next 90 days. Under the terms of
the LOI, AlumiFuel will acquire 100% of the outstanding LLC
interests in ByteSentinel in exchange for AlumiFuel common
stock.
ByteSentinel is developing innovative cyber security solutions
that make the world safe for businesses and consumers to exchange
digital information. Their solutions are focused on delivering the
latest, cutting edge and seamless integration of user and
application authentication, and encryption to both mobile and
non-mobile environments.
Closing of this transaction is subject to customary conditions
including further due diligence by the parties, negotiation and
execution of a definitive agreement and related documents, and
satisfaction of any necessary, board of director, stockholder and
LLC interest holder approvals.
About AlumiFuel Power Corporation
AlumiFuel Power Corporation, operating through its wholly owned
subsidiary, NovoFuel, Inc., is an early production stage renewable
energy company that generates hydrogen gas and heat through the
chemical reaction of aluminum, water, and proprietary
additives.
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 companys progress, business
opportunities and growth prospects, they are based on managements
current beliefs and assumptions as to future events. However, since
the companys 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
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Henry Fong, Chief Executive Officer
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561-514-9042
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