FORT LAUDERDALE, Fla., Dec. 07, 2021 (GLOBE NEWSWIRE) -- Aluf Holdings, Inc. ("AHIX") ("Aluf") (OTC PINK: AHIX) is a holding company headquartered in Fort Lauderdale, Florida, engaged in acquiring, operating, and managing subsidiary companies in the development and sale of proprietary software, updates its shareholders on the previously announced Non-binding Letter of Intent to acquire a privately held, profitable security and technology management consulting firm. Management will be conducting a site visit of TC's headquarters and satellite facilities during the first week of December, toward the final stages of due diligence prior to the close of the acquisition. There is no assurance that the due diligence process will be successful or that the transaction will close. A definitive agreement is expected to be reached upon successful completion of the due diligence. The original closing date of December 31, 2021 will be extended to take place during the first quarter, 2022.

The Company's business model presents a unique opportunity to meet the challenges of the Intelligence Community by meeting the demand for project and program management along with technical resource support, and to gain access to multi-year, 9-figure budget contracts and IT staffing IDIQ. The company founder has been in the intelligence business for over 30 years and has developed long term relationships within the Intelligence Community.

About Aluf Holdings, Inc.:

Aluf Holdings, Inc. is a publicly traded holding company whose core competency is to strategically acquire, manage and propel technology companies into the future. Our core focus is the Biometric, Cybersecurity, Blockchain, and Software/Hardware verticals. For more information go to www.aluf.com

Safe Harbor Statement:

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.

Corporate Contact:

Aluf Holdings, Inc.
Teresa McWilliams
Chief Financial Officer
866-793-1110