Pay Linx Financial Corporation announces potential convertible debenture subscription and negotiations with Royal Bank of Canada regarding Pay Linx Financial Corporation as the selected outsourcer for Royal Bank of Canada

    TSX Venture Exchange Symbol: PIN

    EDMONTON, Sept. 12 /CNW/ - Pay Linx Financial Corporation ("Pay Linx" -
TSXV: PIN) announced today that it anticipates entering into a convertible,
unsecured debenture financing in the principal amount of $1.5 million. The
principal amount of the debenture will be convertible into common shares of
Pay Linx.
    Furthermore, Pay Linx is in negotiations with and working toward an
agreement with Royal Bank of Canada ("RBC") which, if completed, will result
in Pay Linx being the selected outsourcer for RBC's Stored Value Electronic
Benefit Card System.

    About Pay Linx

    Pay Linx delivers affordable, accessible and contemporary payment
processing services that integrate seamlessly into North America's existing
financial systems for financial institutions and their/our corporate and
government clients. Pay Linx is 25% owned by Royal Bank of Canada. Pay Linx
cornerstone Application Service Provider product is a Prepaid Debit Card
solution. Pay Linx is in the business of processing and managing stored value
cards (SVC), and Mobile Banking solutions throughout Canada and United States.
Pay Linx partners with the best in the industry, securing relationships with
established, reliable partners with broad market reach and utilizing
contemporary ATM, Point of Sale (POS) and online technology. As a result, we
set the industry standard for security, affordability and user responsiveness.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    Certain statements contained herein may constitute forward-looking
statements. These statements relate to future events or our future
performance. All statements other than statements of historical fact may be
forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe" and
similar expressions. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward-looking statements.
We believe that the expectations reflected in the forward-looking statements
are reasonable based upon management's current views but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon. No assurance can
be given that actual results, performance or achievement expressed in, or
implied by these forward-looking statements will occur, or if they do, that
any benefits may be derived from them. Past results have been applied in
drawing a conclusion or making a forecast or projection set out in the
forward-looking information.

For further information:

For further information: Ian McNeill, President and CEO, Pay Linx
Financial Corporation, Tel: (780) 702-4710, Email:,

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