Taking MoneyTrac Public: Global Payout and MoneyTrac Technology Sign Reverse Triangular Merger Agreement
June 05 2018 - 7:00AM
InvestorsHub NewsWire
Taking
MoneyTrac Public: Global Payout and MoneyTrac Technology Sign
Reverse Triangular Merger Agreement
San Diego, CA -- June 05, 2018 – InvestorsHub NewsWire – Global
Payout Inc. (OTCPink:
GOHE) (“Global”) is pleased to announce that, MoneyTrac
Technology, Inc. (“MTRAC”, the “Company”), of which Global is a
significant shareholder (currently 18% ownership), announced today
that they have structured a reverse triangular merger agreement
(the “Agreement”) with Global whereby MTRAC will
be the post-merger operating
entity.
The last year and a
half has proven to be both game changing and exceptionally
productive for MoneyTrac
Technology. Initially
launched in 2015 as a subsidiary to Global, the goal of this
subsidiary was to tackle the payment processing challenges faced by
businesses operating in a variety of “high-cost” and “high-risk”
industries, and with the appointment of Ms. Vanessa Luna in early
2017 as MTRAC’s COO, the Company began to gain significant traction
by way of a number of strategic partnerships and acquisitions it
executed.
The beginning of 2018
would see Ms. Luna elevate to the position of CEO of MoneyTrac, and
shortly thereafter the Company achieved its most significant
milestone to-date by securing an exclusive software licensing
agreement with GreenBox Pos, LLC (OTCQB: GRBX). This technology
would serve as the catalyst for the co-development of the
revolutionary closed-loop blockchain technology-supported MTRAC
payment solution, which the Company intends to be the “Key to
Cashless™”
for a multitude of cash-burdened
businesses. Now poised, in managements’ opinion, more
effectively than ever before to emerge as the premier payment
processing solution for “high-risk” and “high-cost” industries, the
Company firmly believes that the opportunity to be placed on a
public platform by way of this reverse triangular merger with
Global could open the doors to a variety of new resources that can
be leveraged to maximize the Company’s short and long-term growth
strategies.
Said MTRAC CEO,
Vanessa Luna: “The completion of this reverse triangular merger
with Global Payout marks the culmination of the hard work and
dedication my team and I have put forth on behalf of MoneyTrac in
the past several months. We have come to a point where we are truly
ready to take on the cash problem with our MTRAC payment solution.
And while we have remained strategically meticulous in our launch
and expansion efforts thus far, we recognize how important a public
platform can be in helping MoneyTrac evolve into the financial
technology powerhouse we believe it will become. We are grateful to
the team at Global Payout for their ongoing and continued support
throughout the years which has culminated in this merger. We fully
intend to use this incredible opportunity to establish MTRAC as the
premier cashless solution for the multi-billion-dollar cannabis
industry and will remain motivated to create a cashless society for
other high-cost and high-risk market sectors through our
extraordinary blockchain technology
solutions.”
Said Global Payout
CEO, James Hancock: “Global Payout has always been a major
supporter of MoneyTrac, so I am elated over the completion of this
reverse triangular merger as I recognized the significant benefit
it could have in facilitating their continued growth and expansion.
Over the last several months, Global’s shareholders have witnessed
the evolution of MTRAC, and I am excited for them to now be a part
of this entirely new era of Global Payout that I believe will
become the most compelling part of our success
story.”
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 for domestic and international
organizations distributing money worldwide. In 2014, Global
introduced its first online payment platform called the
Consolidated Payment Gateway (CPG), which allowed its enterprise
clients to transfer money to international bank accounts, mobile
accounts, and prepaid card accounts. The development of the CPG
became the foundation for the introduction of its new, state of the
art FINTECH payment system in 2017, for both online and mobile
applications to allow account holders to maximize an expanded suite
of financial services and minimize operational costs. Global will
continue to offer their FINTECH payment system to many vertical
markets for support of foreign currency exchange and digital
currency, including ongoing support of the banking industry and
international governments.
About MoneyTrac
Technology
MoneyTrac Technology, Inc. (MTRAC) is a “New Age
Technology Holding Company” offering a full-service solution for
alternative banking and electronic financial marketplace with
technology offerings including Payment Platform, Blockchain,
Crypto-Commodity Exchange, Compliance, POS, E-Wallet, Mobile
Application and Digital Payment Solutions for businesses and
companies in various “high-costs of banking” industries. MTRAC
offers additional suites of services ranging from business
development, sales and marketing, to digital and print
advertisement. We are One Network disrupting the status quo. It is
MTRAC’S creative vision to create a “The New Age of Currency™” by
bringing innovative technology solutions to various industries and
providing 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 contained in the Edgar Archives
of the Securities and Exchange Commission at
www.sec.gov.
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Contact:
Global Payout
www.GlobalPayout.com
619.795.5810 Office
Information@GlobalPayout.com
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