Allied Energy Inc. (OTC: AGGI) stock soars 120%: What’s the Buzz?

Wednesday turned out to be a great day in the markets for Allied Energy Inc. (OTC: AGGI) shareholders as the company’s stock came into sharp focus among investors and ended up delivering gains of 120% amidst heavy interest. It could be a good time to take a closer look at the key developments from yesterday.

Allied Energy, Inc. Announces Equity Exchange Agreement with BILI, Inc.

The investment holding company announced yesterday that it entered into an equity exchange agreement with the Canadian corporation BILI Inc. BILI was described as a specialist in social media commerce, content, and marketing.

In the news release, it was revealed that, as per the terms of the agreement, Allied Energy would pick up 100% of the issued and outstanding shares in BILI. The transaction would be executed through a stock-for-stock exchange. The shareholders in BILI would be awarded shares in Allied Energy.

Strategic Importance

The acquisition would also usher in certain key strategic advantages for Allied Energy. It would enable the company to make a strong entry into the fast-growing social commerce sectors worth $1.3 trillion. Additionally, BILI’s innovative platform, networks with pro athletes, influencer community, and artificial intelligence strengths also synched with the strategic aims of Allied Energy. It would be interesting to see if the latest development leads to further momentum in the Allied Energy in the coming days.