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.
Global Payout, Inc.
(702) 790-2511 Ext. 101