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STAL - Star Alliance to acquire 51% of the Genesis program
Star Alliance International Corp
2023-03-21 11:32:46 ET
Star Alliance ( OTCPK:STAL ) signed a agreement to acquire 51% of the Genesis program for $5.1M; 50% of purchase price is due and payable by Sep.30, 2023 and remaining balance is due withing 12 months.
The company will provide at least $2.5M working capital by July 31, 2023 for the construction of Genesis systems with the balance of another $2.5M working capital due within twelve months.
Star has made significant progress in the negotiations for the financing necessary to meet these targets.