|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.
Global Payout, Inc.
(702) 790-2511 Ext. 101
MTrac Tech Corp.
(702) 790-2511 Ext. 101