DGAP-News: AlumiFuel Power International Inc.: ALUMIFUEL POWER INTERNATIONAL REPORTS ON ANNUAL SHAREHOLDERS MEETING
(firmenpresse) - DGAP-News: AlumiFuel Power International Inc. / Key word(s): Corporate
Action
AlumiFuel Power International Inc.: ALUMIFUEL POWER INTERNATIONAL
REPORTS ON ANNUAL SHAREHOLDERS MEETING
09.08.2013 / 06:00
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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.
AlumiFuel International (www.alumifuel-aktie.de) is an early production
stage alternative energy company that generates hydrogen gas and steam/heat
through the chemical reaction of aluminum, water, and proprietary
additives. This technology is ideally suited for multiple applications
requiring on-site, on-demand fuel sources, serving military and commercial
customers including, fuel cells for portable and back-up power, weather
balloon inflation, flameless heater applications and fuel cell-based and
turbine-based undersea propulsion systems and auxiliary power systems.
This technology has significant differentiators in performance,
adaptability, safety and cost-effectiveness in its target market
applications, with no external power required and no toxic chemicals or
by-products. AlumiFuel International and was listed on the Deutsche Börse
Frankfurt Stock Exchange under the symbol '9AP' until December 2012 upon
the closure of the First Quotation Board of that exchange.
CONTACTS:
Investor Relations:
AlumiFuel Power International, Inc.
Thomas B. Olson, Corporate Secretary
303-796-8940
End of Corporate News
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224985 09.08.2013
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Datum: 09.08.2013 - 06:00 Uhr
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News-ID 286290
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