Affluence Corporation Appoints Oscar Brito as President

Rhea-AI Summary

Affluence Corporation (OTC PINK:AFFU), a global technology company focused on smart infrastructure and edge computing solutions, has appointed Oscar Brito as President, effective immediately. Brito, who will report to the Board, brings extensive experience in private equity, capital formation, and M&A across multiple regions. His track record includes raising over $600 million for various projects and an additional $400 million as a principal investor. Notably, Brito was a co-founder and board member of iQSTEL Inc, a telecom company with $300 million in annual revenue. In his new role, Brito will be responsible for identifying, financing, and managing acquisitions within the United States, focusing on the Smart City and Connected Industries IoT space.

Positive

• Appointment of experienced executive with proven track record in raising capital ($600M+ in funding)
• New President brings significant M&A and private equity expertise relevant to company's acquisition strategy
• Strategic focus on high-growth Smart City and Connected Industries IoT markets
• Brito's previous success with iQSTEL ($300M revenue company) demonstrates ability to scale technology companies

Negative

• None.

OAK BROOK, IL / ACCESS Newswire / June 12, 2025 / Affluence Corporation, (OTC PINK:AFFU), a global technology holding company specializing in smart infrastructure and edge computing solutions, announced today the appointment of Oscar Brito as President of the Company with immediate effect. His appointment is a crucial step in the planned acquisition strategy to scale and profitably grow the group in the Smart City and Connected Industries IoT space. Mr Brito will report to the Board and be responsible for identifying, obtaining financing, and managing acquisitions within the United States.

Mr Brito brings a wealth of experience in private equity, capital formation, mergers and acquisitions, and real estate development across the United States, Europe and Latin America. He has played a key role in raising over $600 million in funding for projects and companies across real estate, telecommunications, and information technology sectors. As a principal and co-investor, he has additionally raised approximately $400 million in capital across a variety of industries, including value-added telecom and telecom infrastructure investments. His expertise lies in identifying high-growth, opportunistic investments and structuring complex financial transactions to support their execution and growth.

Most recently, Mr Brito was the co-founder, Member of the Board and an active investor in iQSTEL Inc, a publicly traded, US based telecommunications company generating over $300 million in annual revenue. iQSTEL has become a recognized player in the international telecom market, with a focus on next-generation services and infrastructure.

"Oscar's experience in identifying high-growth acquisition opportunities and raising capital will help us in accelerating the growth of the group" said William Gonyer, CFO of Affluence Corporation.

"I am excited to be joining Affluence. The Smart City and Connected Industries IoT market is a fast-growing sector. I look forward to identifying synergistic targets to drive forward innovation and profitable growth so that Affluence is part of this market evolution. I am certain that we can create significant value in the near future," said Oscar Brito.

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About Affluence Corporation

Affluence Corporation (AFFU.PK) is a diversified technology company focused on smart city and industry software and innovative solutions that capitalize on IoT, AI, 5G and edge technologies. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet. For more information go to https://affucorp.com.

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This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical in nature, including the words "anticipate," "expect," "suggests," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" and other similar expressions are intended to identify forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices,, the failure to retain management and/or key employees of the target company, availability and the cost of capital, success of growth initiatives, limited operating history and other risks discussed in our filings with the OTCMarkets; and the Securities and Exchange Commissions. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Affluence Corporation assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Media and investor contact - press@affucorp.com

SOURCE: Affluence Corp

View the original press release on ACCESS Newswire

FAQ

Who is Oscar Brito and what is his new role at Affluence Corporation (AFFU)?

Oscar Brito has been appointed as President of Affluence Corporation (AFFU), responsible for identifying, financing, and managing acquisitions within the United States.

What is Affluence Corporation's (AFFU) business focus?

Affluence Corporation is a global technology holding company specializing in smart infrastructure and edge computing solutions, with a focus on Smart City and Connected Industries IoT space.

What is Oscar Brito's track record in capital raising?

Brito has raised over $600 million in funding for various projects and companies, plus approximately $400 million as a principal and co-investor across different industries.

What was Oscar Brito's previous notable business achievement?

Brito was a co-founder, Board Member and active investor in iQSTEL Inc, a publicly traded US telecommunications company that generates over $300 million in annual revenue.

How will Oscar Brito's appointment impact AFFU's business strategy?

Brito's appointment is part of AFFU's planned acquisition strategy to scale and profitably grow the group in the Smart City and Connected Industries IoT space.