Global Payout Executes Binding MOU to Acquire Controlling Stake in World Innovation Technologies
February 10 2020 - 8:00AM
InvestorsHub NewsWire
Global Payout Executes Binding MOU to Acquire
Controlling Stake in World Innovation
Technologies
SAN
DIEGO, CA -- February 10, 2020 -- InvestorsHub NewsWire -- Global
Payout Inc. (OTCPink:GOHE)
(“Global” or the “Company”) is pleased to announce it has executed
a binding Memorandum of Understanding (“MOU”) with World Innovation
Technologies (“WIT”) to acquire a 51% ownership of WIT, making it a
majority owned subsidiary of the Company.
WIT
is a manufacturer of Nutraceutical products that are ready to be
deployed into the market and both companies have agreed they can
benefit from Global’s experience with sales and marketing of new
product launches. Global will take over all sales and logistics
efforts on behalf of WIT and in exchange will receive 50% of all
revenue generated in the new subsidiary.
“This acquisition has been in the works for some
time and represents the first step in our overall goal to diversify
Global Payout’s holdings,” said Global Payout CEO, Vanessa Luna. “I
believe WIT to be an up and coming player in the
multibillion-dollar nutraceuticals market, one that many analysts
believe will continue on a strong growth trajectory over the next
couple of years. I have had the personal pleasure of working with
the Executive Team of WIT on multiple business initiatives over the
past decade. I am grateful they decided to entrust my team and I to
bring these products to market and meet the current demand they are
facing. We are excited to develop a strong go-to-market strategy
for the company and identify the many possible revenue streams that
will be derived from this partnership.”
WIT
comes with major products lines such as dose K-Cup, Button Blast
Dosing Cap, Sports Blast Dosing Cap, Straws Dissolving Beads,
Microencapsulation, Pharma Blast, and more (All products are patent
protected.)
“We
have personally seen firsthand the success Ms. Luna and her team
bring to any company they work with. We were thoroughly impressed
with their most recent endeavor with MTrac and how quickly they
managed to dominate a market space with a new technology launch. It
is that level of expertise that ultimately brought us together in
this new venture. We are currently experiencing high demand for our
products in caffeine, cbd, cosmetics, nutra, and more. We are eager
to finalize this acquisition and look forward to working together
to bring our products to the masses.” said Mr. Roy Anthony on
behalf of WIT.
As
Global works with WIT to finalize the details of the acquisition
the Company will keep shareholders apprised of its
progress.
For
more information on WIT please feel free to visit their website
at https://www.innonutra.com/
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.
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
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