Efftec Initiates Acquisition Process of BitBank, a Bitcoin Market and Valuation Application for iOS
February 13 2014 - 9:15AM
Marketwired
Efftec Initiates Acquisition Process of BitBank, a Bitcoin Market
and Valuation Application for iOS
TULSA, OK--(Marketwired - Feb 13, 2014) - Efftec International,
Inc. (OTC: EFFI): The Company is pleased to announce that it has
initiated the acquisition of BitBank from a private firm. The
terms, conditions, and price have already been agreed to and
memorialized between Efftec and the private seller, and we expect
the transaction to fully consummate within a short time.
Efftec targeted this particular application for a variety of
reasons, to be expanded on once we fully close this
transaction. Our general strategy which compelled us to make
this acquisition is centered around our belief that
cryptocurrencies represent, at once, a novel currency, a novel
marketplace, and a unique financial instrument which is only in its
infancy. It is not often that an entirely new sector is born,
and we believe the potential for commerce in this sector holds
almost unlimited potential for expansion, and increased adoption in
the years to come. Along with the very likely growth of the
entire cryptocurrency sector will come opportunities for those
involved, and properly positioned, to reap the rewards.
The Company will release further details on our plans and
strategy surrounding this acquisition once fully complete. We
expect the transaction to be closed within 1 week's time.
Efftec International, Inc. (OTC: EFFI) is a holding company with
four operating subsidiaries. Efftec's core focus is on the
acquisition and development of proprietary technologies. The
Company is actively expanding its footprint in the technology
marketplace through acquisitions of profitable, revenue-producing
companies with proven business models.
Safe Harbor: This Press Release may contain, among other things,
certain forward-looking statements, including, without limitation,
(i) statements with respect to the Company's plans, objectives,
expectations and intentions; and (ii) other statements identified
by words such as "may," "could," "would," "should," "believes,"
"expects," "anticipates," "estimates," "intends," "plans" or
similar expressions. These statements are based upon the current
beliefs and expectations of the Company's management and are
subject to significant risks and uncertainties. Actual results may
differ from those set forth in the forward-looking statements.
These forward-looking statements involve certain risks and
uncertainties that are subject to change based on various factors
(many of which are beyond the Company's control).