FastFunds Financial Corporation Provides Corporate Update on Subsidiaries Cannabis Angel and Financiera Moderna
February 14 2014 - 8:45AM
Marketwired
WEST PALM BEACH,
FL-(Marketwired - February 14, 2014) -
FastFunds Financial Corporation ("FastFunds" or the "Company")
(OTCQB: FFFC) provided today a general corporate update on recent
activities. The Company's wholly-owned subsidiary, Cannabis Angel,
Inc., since its announcement on January 22, 2014, has received
numerous inquiries, proposals and prospective business
opportunities relating to the ancillary aspects of the cannabis
industry in addition to its previously announced projects. These
inquiries have been both national and international in scope. The
Company has been undergoing fact finding and due diligence on
several of these and while no agreements or understandings have
been reached, the Company believes there is a high likelihood in
the near future one or more could reach fruition. The Company will
be keeping shareholders updated on a timely basis as events occur.
Our private equity funding source has been encouraged by this high
level of interest and has agreed to give our projects the highest
priority and in addition has allocated additional funds for this
sector.
The Company also updated the activities of its majority-owned
subsidiary, Financiera Moderna, Inc. ("FM"). After several months
of working on its marketing approach, FM's affiliated marketing
groups have been evaluating their marketing concept and working to
sharpen their strategy. Accordingly, these affiliates are working
to implement a more direct to consumer approach. The current method
required the time and cost involved with recruiting and training
agents whereas the new direct to consumer approach is a more proven
method of hiring licensed sales people to work leads and generate
sales directly with the consumer. The Company believes it will have
this more efficient approach in place by March 1, 2014. There are
currently negotiations taking place with the principals of the
affiliated marketing groups to amend the Company's agreements
providing for stock ownership in exchange for a substantially
larger percentage of gross revenues generated by the affiliates to
the Company.
About FastFunds
Financial Corporation
FastFunds Financial Corporation is a holding company that is
publicly traded on the Over-the-Counter QB under the symbol "FFFC."
The Company currently operates in the financial services industry
segment with a single credit card services portfolio. The Company
is currently seeking new business opportunities to diversify and
complement our current services and products, enhance our technical
capabilities and offer growth opportunities for our stockholders;
and recently announced the formation of Cannabis Angel, Inc., a
company involved in providing financing alternatives, corporate
finance and general management consulting services to early-stage
cannabis companies and projects.
FORWARD-LOOKING STATEMENTS
This news release may include "forward-looking statements"
regarding FastFunds Financial Corporation, and its subsidiaries,
business and project plans. Such forward-looking statements are
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and section 21E of the United States Securities and
Exchange Act of 1934, as amended, and are intended to be covered by
the safe harbor created by such sections. Where FastFunds Financial
Corporation expresses or implies an expectation or belief as to
future events or results, such expectation or belief is believed to
have a reasonable basis. However, forward-looking statements are
subject to risks, uncertainties and other factors, which could
cause actual results to differ materially from future results
expressed, projected or implied by such forward-looking statements.
FastFunds Financial Corporation does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law.
For Further
Information Contact:Henry FongChairman &
CEO561-514-9042