Global Payout, Inc. (OTCPink: GOHE) Announces Multi-Million Dollar Financing Agreement at a 10x Valuation
October 08 2019 - 8:00AM
InvestorsHub NewsWire
Global Payout, Inc. (OTCPink:
GOHE) Announces Multi-Million
Dollar
Financing Agreement at a 10x
Valuation
SAN
DIEGO, CA -- October 8, 2019 -- InvestorsHub NewsWire -- Global
Payout Inc. (OTCPink:
GOHE) (“Global” or the “Company”) is pleased to announce that
Global Payout has entered into a financing arrangement with a
long-term private investor for ongoing financial support at a
valuation of ten times the current share price. This investment
group has already provided over $2,200,000 in investment capital to
the company over the past two years and has committed to additional
financing of more than $3,000,000 at a 10x valuation for a total
investment of over $5,000,000. The Company anticipates using a
large portion of these proceeds to retire a substantial percentage
of the Company’s outstanding convertible debt, which will have
tremendous value to the stock and its
shareholders.
“It
gives me great pleasure to announce financing at such a high
valuation,” said Global Payout, CEO Vanessa Luna. “As I have said
many times, I believe strongly that this company is on a path to
becoming the go-to Fintech solution for the cannabis market, but it
feels great to have that affirmed by such a strong investment. It
reaffirms to me, as CEO, that the growth initiatives and overall
trajectory of the business are moving in the right direction; and
should signal to shareholders that we mean serious business. We are
aware that there is still a long way to go to get this company in a
truly competitive position, which will involve a hard look at all
aspects of both the public and privately held Company, MTrac Tech
Corp., but this arrangement certainly offers us the ability to
continue to make progress on all fronts as we strive to optimize
shareholder value for the long term.”
About Global Payout,
Inc. (OTC
Pink:GOHE)
Since
the Company's inception in 2009, Global Payout, Inc. has been a
leading provider of comprehensive and customized prepaid payment
solutions. From 2014 to 2017
Global focused on identifying new state of the art technologies in
a variety of industry sectors and successfully helped launch
MoneyTrac Technology Inc. and other companies within the FinTech
space. In 2018, Global completed a reverse triangular merger with
MoneyTrac Technology Inc. resulting in Global retaining the wholly
owned subsidiary, MTrac Tech Corporation. Global’s current focus is
continuing to identify new business opportunities while it
reorganizes its future business
endeavors.
About MTrac Tech
Corp.
MTrac
Tech Corporation, a Nevada Corporation, is a privately held, wholly
owned subsidiary of Global Payout, Inc. MTrac is a software
technology, sales and marketing, and business development company
focused on “high risk” and “high cost” industries. The Company’s
flagship product is the MTrac payment platform offering a
full-service solution with technology offerings including Payment
Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application
and Digital Payment Solutions. We are one network disrupting the
status quo. It is MTrac’s creative vision through the use of its
innovative technology solution to become the premier service
provider offering the “Key to
Cashless®.”
Forward-Looking
Statements Disclaimer:
This
press release contains 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.
In some cases, you can identify forward-looking statements by the
following words: "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "ongoing," "plan,"
"potential," "predict," "project," "should," "will," "would," or
the negative of these terms or other comparable terminology,
although not all forward-looking statements contain these words.
Forward-looking statements are not a guarantee of future
performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
information available at the time the statements are made and
involve known and unknown risks, uncertainty and other factors that
may cause our results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by the forward-looking statements in this
press release. This press release should be considered in light of
all filings of the Company that are disclosed on the OTC
Markets.com website.
Media
Contacts:
Global Payout,
Inc.
www.globalpayout.com
(702) 790-2511 Ext. 101
Ir@globalpayout.com
MTrac
Tech Corp.
www.Mtractech.com
(702) 790-2511 Ext. 101
ir@mtractechcorp.com
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