NEW YORK, Oct. 4, 2012 /CNW/ - TIO Networks Corp., (TSXV: TNC) ("TIO"), North America's leading expedited bill payment company, announced today that it has engaged Hayden IR, a respected US national investor relations firm, to develop and implement a strategic program to raise TIO's visibility and strengthen its relationships with the investment community.
"We are thrilled to be working with the highly-esteemed team at Hayden IR to raise TIO's profile with the US investment community," said Hamed Shahbazi, Chairman and CEO of TIO Networks. "The vast majority of TIO's business takes place in the US and our cloud-based technology is poised to have a huge impact on America's growing underbanked population."
With offices in New York, Phoenix, Minneapolis and Seattle, Hayden IR provides a comprehensive range of investor relations services to a growing list of clients. For more than a decade, Hayden IR has been a recognized leader in driving market recognition and creating sustainable competitive advantages for more than 200 micro and small-cap companies. Hayden delivers expertise and professionalism in such areas as investor management, relationship building, awareness campaigns, online presence and corporate identity.
"TIO Networks has compelling technology in the rapidly growing digital payment industry," said Brett Maas, managing partner at Hayden IR's New York office. "With a proven business model featuring significant recurring revenue, TIO creates long-term visibility. We believe TIO Networks represents an exciting market opportunity as payments increasingly move to digital, and specifically mobile platforms."
The Company's services, like TIO Connect, provide robust back-end solutions to billers, helping them create powerful and integrated digital payment programs that are both time and cost efficient. TIO enables billers to accept a wider range of payment methods including debit, credit or cash. Its mobile app, TIO MobilePay also offers customers a more convenient bill pay solution with the option of real-time processing.
By serving a wide range of bill issuers, from small to large, the Company has access to a broad array of potential customers in verticals such as insurance, auto payments and rental housing. TIO will pay Hayden IR a monthly fee of $5,500.00 for the one-year term of the consulting agreement, which may be extended upon mutual agreement of the parties. In addition it will issue 150,000 common share stock options, have an exercise price of $0.35, and shall vest quarterly over the one-year term of the contract. The options will expire on October 4, 2015.
About: TIO Networks
TIO is a cloud-based bill payment processor serving the largest telecom, wireless, cable and utility bill issuers in North America. With more than 60,000 endpoints, TIO symbolizes fast, convenient and secure bill paying. Visit: www.TIOnetworks.com. Join the conversation on www.twitter.com/tiobillpay or Like us on www.facebook.com/TIOWallet.
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy. Any transaction described herein may be subject to approval of the TSX Venture Exchange.
SOURCE: TIO Networks Corp.
For further information:
Brett Mass, Hayden IR
John Lewis, Business Development - TIO Networks