Alumifuel Power Corp. (AFPW)

[GMONEY4]

News out. CENTENNIAL, CO -- (Marketwired) -- 08/08/17 -- AlumiFuel Power Corporation (OTC PINK: AFPW) ("AlumiFuel" or the "Company") today announced that it has received a funding commitment for expansion of its temporary staffing subsidiary.

On August 4, 2017, the Company entered into an agreement with a privately held, affiliated company, to provide startup capital for new staffing centers. The financing will be secured by the operating assets of each staffing center launched and will not require the Company to issue any shares of stock as part of the agreement. The Company will be required to repay each tranche within six months. Interest will accrue at a rate of one half of one percent compounded monthly.

The Company expects additional financing will be needed as this segment of its business grows and is seeking strategic financial partners to launch a nationwide expansion of its staffing business.

Separately, the Company announced it is in talks with potential investors for creation and launch of a real estate investment division. AlumiFuel is transforming into a diversified holding company and believes multi-family real estate fits well with its cash flow diversification strategy.

On July 28, 2017 the Company announced, via twitter, that it was relocating its headquarters to the Metro Atlanta Area.

https://www.otcmarkets.com/news/otc-market-headline?id=862339