Enerkon Solar International Inc and URSUS SA Bus Factory signed agreements for Investment of $30 Million USD into URSUS SA Bus Factory (Poland)
ENERKON SOLAR INTERNATIONAL INC. (OTCBB:ENKS)
DELRAY BEACH, FL, UNITED STATES, September 23, 2019 /EINPresswire.com/ — Enerkon CEO – Mr. Benjamin Ballout stated today that "Enerkon Solar International Inc and URSUS SA Bus Factory (Poland) signed finance agreements this week supporting the Investment of $30 Million USD into URSUS SA Bus Factory, in a combination of convertible debt and equity,with a closing date set for October 8th 2019"
financing is based on a loan to Ursus SA secured by the former's shares (49%) in addition to URSUS Bus shares (7%) and wrapped by Credit Default Guarantee for Principal.
In addition, URSUS SA – Appointed Mr. Benjamin Ballout – CEO of Enerkon Solar International Inc.(ENKS OTC PINK) to a supervisory seat on the board of directors during the period of the investment.
A professional valuation by a top firm, as well as market diligence, was used to determine the valuation of URSUS SA shares.
Mr. Ballout further stated that "we are delighted to add this great company into our group which will enhance our renewable energy diversity as a green energy investment firm, we are focusing on the broad spectrum of green tech including transportation. The IOE (Internet of Electricity / Internet of Things) axis will also be a main focus this year using the Block Chain network and security protocols, AI Renewable Energy Tech, Storage Tech, including new Battery substrates designed using Nanotechnology and exotic materials science. Long term, High Volume off peak storage capacity using battery and capacitor technology will greatly enhance the efficiency of all forms of Green power generation, and Range Increases for Electric Cars, Bus and other vehicles."
In other news this week, Enerkon Solar International Inc. signed an MOU for cooperation, with large Multinational VISION Morocco, Construction and Engineering Group which we expect will enhance our market penetration and performance in the next quarter, this year.
The foregoing statements are forward looking statements, and as such, they may or may not reflect the results which could transpire in the future which should be negative or not transpire at all due to circumstances or other reasons and investors, shareholders, or others should not rely on these forward looking statements to ascertain any value if any of ENKS or to make any investment decisions and to take note that this is not an offer to buy or sell securities or an endorsement of ENKS for investment purposes as all investment carry a risk of loss sometimes a total loss of your investment in Micro cap shares markets or any market and therefore such statements or plans should not be relied upon for any business decisions of any kind. These statements are made as forward looking statements for educational purposes only in accordance with the rules and regulations which pertain to the same.
Mr. Benjamin Ballout
Enerkon Solar International Inc.
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Source: EIN Presswire