BARRIE, Ontario, Feb. 25, 2015 /PRNewswire/ -- Telecorp,
Inc. (OTC Markets: TLNUF) ("Telecorp" or the "Company"), a
growing provider of software communications solutions, is pleased
to announce that the Company continues to have strong funding
interest from investment partners, to provide direct capital of up
to $500,000 to fund acquisitions of
emerging mobile applications and software development companies
around the world.
The proposed financings will be used towards the acquisition
costs of Doozi Entertainment Company, Inc., Dev
Datamedics & Software PVT Ltd., and Sveltoz Solutions
PVT Ltd.. Terms of the financings are expected to be in the
range of 12-24 months, with an effective interest rate of between
8-10% and can be repaid without penalty at any time.
Telecorp is hoping to secure up to five acquisitions before
June 30, 2015. Announcements will
follow soon.
"Securing this important element of our acquisition financing,
will be essential to meeting our expanded software services
objectives," stated Paul
Phillips, President and CEO of Telecorp, Inc.
The Company is also pleased to announce that management has been
highly successful in reducing current debt obligations and
anticipates further debt reductions throughout the next two fiscal
quarters. In the last 10 months, the Company has been able to
reduce approximately $250,000 in
outstanding debt obligations on its balance sheet through various
negotiated settlements.
"We have taken a number of actions to reduce debt and improve
liquidity," continued Phillips. "Our ability to renegotiate notes
is a strong indication of our investors' belief in our growth plans
and long term success. Expanding through acquisitions and continued
fiscal discipline are two main areas of focus for us in 2015."
In other news, Mr. Phillips also announced that the company has
teamed up with Investors Hangout, to offer an additional investor
information board to inform our shareholders about the Company.
Interested parties can visit the new Investor board and
discuss Telecorp at http://investorshangout.com/ or
http://investorshangout.com/Telecorp-Inc-TLNUF-89743/.
About Telecorp Inc.
Telecorp is an emerging provider
of communication solutions to an array of companies and industries
including, automotive, real estate, financial, health, charities,
and many more. Telecorp offers creative software solutions for
communicating with customers at levels never seen before. A total
solution that is not only affordable, but indispensable for any
business, no matter the size. Telecorp's modules allow the best
marketing tools, first rate sales acquisition systems, customer
communication processes, and drive greater profitability from every
interaction, allowing every user to reduce costs and increase
productivity at every use.
The Company's integrated suite of customized solutions includes,
but is not limited to: customer acquisition, customer care,
automated voice services, emergency communications, conferencing,
data management, webinars, customer and hardware support tools,
e-mail, fax and text broadcast messaging, direct to voice mail
messaging, customized voice messaging, text to speech systems,
predictive and progressive dialing, contact management solutions
and much more.
Telecorp Inc. was incorporated in Canada in 2009.
Safe Harbor Statement
Except for historic information
contained in this release, the statements in this news release are
forward-looking statements that are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements involve known and unknown risks
and uncertainties, which may cause a company's actual results in
the future to differ materially from forecasted results. These
risks and uncertainties include, among other things, the company's
ability to attract qualified management, raise sufficient capital
to execute its business plan, and effectively compete against
similar companies.
www.telecorp.com
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SOURCE Telecorp, Inc.
