ATLANTA, GA, May 26, 2022 (GLOBE NEWSWIRE) -- THUNDER ENERGIES CORP. [OTC Pink: TNRG ] President Ricardo Haynes, and Turvata Holdings Limited (Dubai) Executive Chairman Duane Lee, announce the execution of a $40 million dollar cryptocurrency funding pact with a two-year repayment provision.
The transaction has resulted in 50,000 RORA COINS being issued and delivered to Thunder Energies with a trading value set at $800 per coin. Thunder Energies, in payment for the crypto coin, has issued a convertible promissory note.
Rora Coin, cryptocurrency, is an asset-backed cryptocurrency. Operating from offices in Dubai, the Lithuanian based coin and blockchain firm claims it is developing the next level, the next standard, in asset-based trading instruments.
Haynes, in announcing the agreement, stated “Turvata, issuer of the RORA coin, has informed Thunder Energies that it is backing its trading coin with solid assets, assets that translate across international boundaries. I am proud to enter into this agreement which allows Thunder Energies to build a war chest for acquisitions.”
Thunder’s president added, “a forty-million-dollar funding facility, similar to a credit agreement or line of credit, or a general capital raise such as with a SPAC, is a powerful tool in today’s business world. This will place Thunder Energies on a firm footing for executing top level business events, acquisitions and investments, that will substantially and quickly add shareholder value.”
The coin will be listed as a company asset, with the promissory note recorded as an offsetting liability. All transactions will be recorded pursuant to recommendations made by the company’s independent auditors, in consultation with Turvata and Thunder Energies management.
For more information about Thunder Energies, its SEC filings, and business activities, please visit: www.thunderenergiescorp.com
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
Donald R. Keer, P.E., Esq.
Thunder Energies Corp.
3663 Greenwood Circle
Chalfont, PA 18914