Power Corp (OTCMKTS:AFPW) or Dinatrum is gearing up to present the
financial statements to OTC Markets as per the mandate and expects to come out
of the stop mark next week. This initiative helps the company to honor the
already negotiated transaction with Alchemist
Inc and proceed to develop the real estate projects.
cancel free trading shares
According to the Chief Executive
Officer and President, Pedro Villagran Garcia, Alumifuel plans to cancel the
free trading shares, and lower shares count on its float to 3.9 billion. It
would reduce the amount of around 300 million shares. After the stock value
increases, this number would create positive momentum. It accounts for 7.5% of
the total float. Alumifuel decided to reduce the number of authorized shares to
7.2 billion from 10 billion.
Patent issued to Novofuel is valid
CEO of Alumifuel said the US patent
8,974,765 issued to its subsidiary – Novofuel is valid. The copyright is issued
to produce hydrogen under controlled conditions with the help of aluminum-based
water splitting reactions.
The patent assumes significance
because Europe is turning to environmentally friendly fuels. Hydrogen is the
right element for eco-friendly energy production. According to Pedro, several
firms have approached Alumifuel for hydrogen.
Dinatrum to invest in Alchemist
announced the signing of LOI to invest C$3.5 million in Alchemist Inc. The unit
price for the investment is considered at Canadian cents 0.25. Dinatrum will
receive 14 million shares from Alchemist after investing. Alchemist has
received conditional approval from CSE for trading on completion of C$3.5 million
offer consulting and technology services for the California based cannabis
sector. Dinatraum plans to explore real estate opportunities in the US and
California through investing in Alchemist. The company will sign the formal
accord after mobilizing the fund.
commenting on the development said the company would provide details of the
investment plans to the shareholders. The details would include project
financing process flow-chart, financing details, the scope of work, and planned
acquisitions. Dinatrim is eyeing the real estate market in the US, where the
economy is growing at a stronger rate of 2.1% of the GDP.
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Published at Tue, 01 Oct 2019 12:02:48 +0000