Alumifuel Power Corp (OTCMKTS:AFPW) Releases LOI for Meds R Us
Alumifuel Power Corp (OTCMKTS:AFPW) reported that it has released a Letter of Intent to get SDNCMMC, Inc, a medical marijuana dispensary based in CA. SDNCMMC has been an alternative therapy practitioner since last 5 years and distributes medical marijuana to consumers in a relaxed, comfortable environment.
As a premium cannabis dispensary, they specialize in providing premium medical marijuana. SDNCMMC, carrying out operations as Meds R Us, has obtained more than 106,000 hits on the famous marijuana directory, known as weedmaps.com. Meds R Us has 4.7 stars and has obtained more than 170 reviews on the famous site.
Under the LOI terms, current management of Meds would be retained and close a 5-year employment deal with the objective of increasing Meds R Us to added locations in states that have allowed medicinal application of cannabis. Closing of the deal is subject to due diligence, required compliance and regulatory approval, and completion of equity and debt financing.
AlumiFuel intends to turn into a diversified holding firm. The company, operating via its wholly owned subsidiary divisions, is predicted to be get new name “Phoenix Equity Holdings Corporation.” The firm is assessing numerous revenue producing acquisition prospects as it works to develop a robust cash flow stream.
The company at this time operates three subdivisions in the multi-billion-dollar interim staffing industry. Earlier to this update, the company released highlights from a livestream interactive session. During that discussion, AlumiFuel CEO Ryan Schadel covered numerous topics and fielded queries from viewers.
Mr. Schadel highlighted the firm’s continuing review of alternatives to monetize its Novofuel subsidiary, counting its previously announced item line of lithium-ion batteries and hydrogen generation technology.
In the last trading session, the stock price of Alumifuel Power consolidated and closed flat at $0.00030. The market cap of firm now stands at $668,550.© Copyright 2016 OTC News Magazine. All rights reserved.