Latest Flote News
May 13, 2021
New Technology Center in Nevada for Research and Development Barrel Energy, Inc. (BRLL) is focused on several ventures within the energy and minerals sector as well as the rapid development of valuable production opportunities . Current BRLL projects are focused on the Lithium-ion battery business which is increasingly important for the rapidly emerging Electric Vehicle market to support new green energy initiatives. BRLL management is also working to improve its share structure and enhance shareholder value. On March 19thBRLL management posted on Twitter that 8,330,420 shares had just been returned to the company treasury. MOU With American Lithium Minerals for Battery Production Facilities On March 4thBRLL announced it has signed a Memorandum of Understanding (MOU) to enter a partnership with American Lithium Minerals, Inc (“AMLM”) for production facilities in North America. AMLM is engaged in mineral exploration for lithium and rare earth minerals (REE) in the southwest U.S and are active in Lithium Complexes, intended to process high-grade lithium ore, assemble lithium-ion batteries and recycle spent lithium-ion batteries. As previously announced, on February 10th 2021, BRLL signed an exclusive agreement with Roshan Energy Technologies www.roshantechnologies.in/ that will allow for BRLL to become the majority stakeholder in Roshan and the expansion of its Lithium battery facilities in India. Roshan has developed an impressive line of Lithium Battery products for Electric Vehicles, Medical Equipment, Solar street lighting, the telecom industry as well as home energy storage solutions. Barrel and Roshan first plan to make a sizeable impact on the escalating small vehicle EV market in India, a country that has made ambitious policies towards the change to EVs. Roshan has already signed contracts to supply an assortment of manufacturers of two and three wheeled EVs. Additionally, the agreement allows for BRLL to establish a U.S. based manufacturing unit for key Roshan battery products and designs. The MOU is designed to allow BRLL to have its first base for entry into U.S. based manufacturing and use new selective recycling technologies developed by Roshan team that offer both crucial waste-management and battery metal supply solutions. Recently BRLL management has held follow-up meetings with Roshan where the teams discussed plans for advanced lithium battery chemistry R&D, battery recycling, a pilot plant for manufacturing in India, refining and manufacturing in the USA with automation and also lithium recovery from brine. Share Purchase Agreement for Strategic Investment and Development with Flote App for Digital Currency On February 22ndBRLL announced a Share Purchase Agreement (“SPA”) with Flote App Inc. (“Flote”), designers of advance social media, virtual reality and cryptocoin platforms. The BRLL per share purchase price is based upon specific pre-market valuations of Flote and BRLL will be entitled to acquire an aggregate of 45% equity into the company via two tiered tranches. Flote has created a massive new Social Network system built on respect for each user’s personal data, privacy and pocketbook. The all-encompassing Flote platform fully delivers on the internet’s promise of a wholly connected community without big tech censorship, murky guidelines, and infringement. On Flote, people can regain their privacy, express themselves freely, build communities, chat, text and earn digital money by engagement or providing valuable content. The powerful platform provides a valuable marketspace with multi-currency wallets and more ways for content providers and creators to monetize their goods and services, even including their content from third-party social applications like Facebook or Twitter. The BRLL first tranche of Common shares, equal to a 25% interest in the equity of Flote, is based upon a $10,000,000.00 (Ten Million Dollars) valuation; and the second tranche of Common shares of the Company, equal to a further 20% interest, is based upon a $30,000,000.00 (Thirty Million Dollars) valuation for Flote. BRLL has already executed and delivered the first portion of the initial 25% tranche. BRLL and Flote are currently planning real world applications for a digital coin that will be integral to the expanding green energy sector. The use of ‘Green Coin’ could serve as a boom to Lithium explorers, producers, exporters and importers that could rely on upon a powerful digital currency of trade that replaces the world of the Petro-dollar. Decentralized finance with digital tokens offers optimal flexibility and global use. The BRLL and Flote team up is committed to create a new ecosystem that would benefit green energy assets with a smart contract led liquidity pool that could bypass conventional finance instruments and the inflationary fluctuations of fiat currencies. BRLL anticipates Flotes’ full public launch will be completed within Q2 of 2021 with shares trading on the U.S., Canada and Frankfurt exchange. Additionally, BRLL plans to adapt and dedicate its large hemp-acreage in California as a replacement battery recycling area from Nevada as there are potential farming by products from the technology and it is closer to a population of 9 million people. BRLL Appoints Stuart Hensman to Board of Directors On February 16thBRLL announced the appointment of Mr. Stuart Philip Hensman to the Board of Directors. Mr. Hensman possesses both a Bachelor of Arts and Master of Science degree and has held a number of executive leadership roles setting investment strategy and corporate policies worldwide. He has occupied the position of Chairman & Chief Executive Officer for Scotia Capital Inc. (USA), as Managing Director (Equities) for Scotia Capital Inc (United Kingdom), Chairman of the Board of Governors at CI Funds, Chairman of Board of Creststreet Asset Management and Chairman of the Board of Creststreet Power and Income Fund. In addition to chairing the above noted Boards, Mr. Hensman, has also chaired Audit, Compensation and Governance and Nominating Committees on number of other Boards where he served. Mr. Hensman joins BRLL at an exciting time of rapid expansion into a number of verticals within the critical aspects of the materials and tech for Electric Vehicles, battery performance, renewables and integrated devices. Collective technologies that will underpin this decades multi-billion-dollar market expansion toward zero carbon solutions. Opening of New Technology Center in Nevada On February 8thBRLL announced the opening of the company’s research and technology center in Las Vegas, NV. The facility will strengthen the BRLL green-energy product development program and various collaborative technology efforts. BRLL management recognizes the current deficiencies, as well as the massive potential, in the Lithium-ion battery supply chain as market and environmental forces propel the coming dominance of Zero-Emission vehicles with companies like Tesla, GM, Ford, Apple and others drive this vital technology. Despite their current market share, Electric Vehicles (EVs) are currently the fastest growing segment of the auto industry. The new BRLL Technology Center will be the locus for the company’s efforts into Lithium-Ion Battery metal recycling as well as potential battery development and direct metal ion extraction. BRLL intends to immerse itself into the key materials and technology that will underpin this decades coming surge in EV dominance. Additionally, a section of the center will be dedicated to developmental support and on-site innovative I.P. efforts as Barrel finalizes its discussions with a number of next-level software and related technology partnerships. For more information on Barrel Energy, Inc. (BRLL) visit: http://www.barrelenergyandtech.com . DISCLAIMER: FrontPageStocks/CorporateAds.com (CA) is a third-party publisher and news dissemination service provider. FPS/CA is NOT affiliated in any manner with any company mentioned herein. FPS/CA is news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FPS/CA’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release or opinion of the writer. FPS/ CA is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. FPS/CA has been compensated $500 by the company for dissemination of this Article. Disclaimer/Safe Harbor: These news releases and postings may contain forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. SOURCE: CorporateAds.com
Flote Frequently Asked Questions (FAQ)
When was Flote founded?
Flote was founded in 2019.
Where is Flote's headquarters?
Flote's headquarters is located at Austin.
What is Flote's latest funding round?
Flote's latest funding round is Corporate Minority.
How much did Flote raise?
Flote raised a total of $500K.
Who are the investors of Flote?
Investors of Flote include Barrel Energy and Boost VC.