VANCOUVER, Dec. 9, 2016 /CNW/ - NetCents Technology Inc. ("NetCents" or the "Company") (CSE: NC) announces that the non-binding Letter of Intent (the "LOI") the Company had signed with The Hillcore Group ("Hillcore") (see news October 12th, 2016) has expired and that the Licensing Agreement contemplated in the LOI has not been consummated.
After extensive discussions the parties were unable to agree on final terms and conditions for a Licensing Agreement which would have allowed for Hillcore to License the NetCents payment platform.
"We would like to thank Hillcore for their time and efforts but unfortunately we were unable to agree on terms," commented Clayton Moore, CEO & Founder, NetCents Technology Inc. "We continue to be very excited about the advances NetCents has made and look to continue to add valuable partners as the company grows."
NetCents is currently reviewing and considering alternative opportunities.
NetCents is an online payments platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online. NetCents Technology is integrated into the Automated Clearing House ("ACH") and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer's security and privacy. NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay. Your Way.™
Further information about the Company it is available under its profile on the SEDAR website, www.sedar.com, on the CSE website www.thecse.com or on our website www.netcents.biz.
On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, Founder/CEO
NetCents Technology Inc.
Suite 1500, 885 West Georgia Street
Vancouver, British Columbia V6C 3E8
The Canadian Securities Exchange has neither approved nor disapproved of the contents of this press release. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE NetCents Technology Inc.
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For further information: Robert Meister, Capital Markets at Ph: 604.676.5248 or email: firstname.lastname@example.org