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VANCOUVER, Nov. 23, 2018 /CNW/ - NetCents Technology Inc. ("NetCents" or the "Company") (CSE: NC) is pleased to announce that it has entered into consulting agreements with Market IQ Media Group Incorporated ("Market") and Axe Communications Inc. ("Axe") (each, a "Consulting Agreement"), for media consulting, digital media campaigns, and multimedia services.
Each Consulting Agreement has a twelve (12) month term which commenced on November 1, 2018. Pursuant to the Consulting Agreements, the Company will pay monthly fees to (i) Market of $35,000 in cash plus applicable taxes or 25,000 common shares of the Company (each, a "Common Share") at a deemed price of $1.40 per Common Share; and (ii) Axe of $15,000 in cash plus applicable taxes or 10,714 Common Shares at a deemed price of $1.40 per Common Share.
Market and Axe do not currently hold any Common Shares and do not have any other direct or indirect interests in the Company.
The Consulting Agreements and payment of the monthly fees in Common Shares are subject to the approval of the Canadian Securities Exchange. All securities issued pursuant to the Consulting Agreements are subject to a statutory hold period of four months and one day following the issuance in accordance with applicable securities legislation.
The Company has elected to pay Market's fees and Axe's fees in Common Shares for the month of November by issuing 25,000 Common Shares to Market and 10,714 Common Shares to Axe.
NetCents is a next generation online payments processing 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.
On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 - 1021 West Hastings Street
Vancouver, British Columbia V6E 0C3
Cautionary Note Regarding Forward Looking Information
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.
For further information: please visit the corporate website at: www.net-cents.com or www.netcents.biz or contact Gord Jessop, President: [email protected]