AlumiFuel Power International Inc.
AlumiFuel Power International Inc.: ALUMIFUEL POWER INTERNATIONAL REPORTS ON ANNUAL SHAREHOLDERS MEETING
AlumiFuel Power International Inc. / Key word(s): Corporate Action FOR IMMEDIATE RELEASE ALUMIFUEL POWER INTERNATIONAL REPORTS ON ANNUAL SHAREHOLDERS MEETING PHILADELPHIA, Pennsylvania, 9 August 2013. – AlumiFuel Power International, Inc. (‘AlumiFuel International’) (formerly Deutsche Börse Frankfurt Stock Exchange ‘9AP‘), announced today that it held a shareholders’ meeting on 28 June 2013 in Toronto, Canada. Incumbent directors Mr. Henry Fong and Mr. Aaron Grunfeld were re-elected to the Company’s board of directors. Mr. Jim Adams was newly elected to replace Mr. Wayne Stubbington, who did not stand for re-election. Mr. Adams has a wealth of experience in finance, business strategy and marketing, which includes bringing three high-tech companies to North America through reverse takeovers and increasing their access to capital funding. Mr. Adams has created a small cap fund targeting non-profits and cooperative ventures, assisted approximately 100 companies with strategic planning to attract investment, launched new products, and assisted over 120 companies to go public on the Frankfurt, Berlin, Malta, Cyprus and Bermuda stock exchanges. Mr. Adams is a member of advisory groups for TEC Canada and the Rotman School of Business. In its report to shareholders, the Company reported that the Frankfurt Stock Exchange has changed its listing rules that make it impossible for the company to maintain its listing. While shareholders will still hold the shares and can do private sales, this will not benefit existing shareholders, not allow us to attract new investments. The company, using new funding will seek out a new exchange to list on to allow the free trading of shares. At this time, the Company is planning a listing on the OTC tier of the GXG Markets. The stockholders also ratified the transaction through which all of the Company’s hydrogen generation assets, including but not limited to all general intangibles and intellectual property, were exchanged for 2,000,000 shares of the common stock of Novofuel, Inc. AlumiFuel International President, Mr. Henry Fong, said, ‘I want to welcome Jim Adams to the board of directors and thank him for joining us at this crucial time. Because of his extensive experience in listing companies in the European markets as well as his years of experience working with microcap companies, I know he will be a valuable asset in assisting us in acheiveing our goal to bet listed on a European exchange.’
About AlumiFuel Power International, Inc. CONTACTS: End of Corporate News 09.08.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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