Subject: ECO
NetCents Enters into Settlement Agreement
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, Nov. 13, 2018 /CNW/ - NetCents Technology Inc. ("NetCents" or the "Company") (CSE: NC) is pleased to announce that it has settled an outstanding claim owed to Equities Media Inc. ("Equities"). The claim related to a dispute over the issuance of 135,552 common shares and 135,552 warrants by Netcents to Equities.
In exchange for the release of the claim, Netcents issued Equities the following:
i. | 135,552 freely-trading common shares of NetCents; |
ii | 135,552 common share purchase warrants of NetCents, each such warrant entitling the holder to acquire one additional common share of NetCents for a period expiring October 31, 2019 at a price of $1.42 per share (the "Settlement Warrants"); and |
iii. | an additional 14,084 common shares being the number of common shares as is equal to $20,000 divided by the Exercise Price (the "Additional Shares"). |
The Settlement Warrants and Additional Shares are subject to a hold period expiring March 1, 2019.
About NetCents
NetCents is a next generation online payments processing platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online.
NetCents Technology is integrated into the Automated Clearing House ("ACH") and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer's security and privacy. NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay. Your Way.tm
On Behalf of the Board of Directors
NetCents Technology Inc.
"Clayton Moore"
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
Suite 1500, 885 West Georgia Street
Vancouver, British Columbia V6C 3E8
Cautionary Note Regarding Forward Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE NetCents Technology Inc.
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