SOURCE: Angels in Action

March 23, 2011 17:14 ET

Angels in Action Announces GATE Technologies Acquires Controlling Interest

GATE Global Impact Extends Its Offerings Into Microfinance

NEW YORK, NY--(Marketwire - March 23, 2011) - GATE Technologies, LLC, announced today that it has acquired controlling interest in Angels in Action ("AIA"), an operating division of Angel Acquisition Corp. (OTCQB: AGEL) (PINKSHEETS: AGEL), enhancing the offerings of its subsidiary, GATE Global Impact ("GGI"). Angels in Action is a Carlsbad, California based company focused on providing microfinance services in the U.S. marketplace. AIA's platform enables eligible American entrepreneurs to secure quick-and-ready financing through peer-to-peer loans and microloans. The terms and conditions of the sale will be announced and fully disclosed in the near term.

This acquisition enables Steve Bonenberger, CEO and Founder of AIA, to extend the mission and reach of his Microfinance Platform by increasing its exposure to leading Impact Investors. "American entrepreneurs in need of financing have come to us with their dreams when they have nowhere else to turn. Traditional banking and lending platforms have shut out entire sectors of the population due to the economic downturn. The GATE Global Impact strategic partnership and teaming involvement now enables us to deploy our vision for a new era of financing in America."

Angels in Action brings together entrepreneurs and investors in the underserved markets in the United States. AIA provides an opportunity to help America fill the financial void that has not been adequately addressed by the U.S. banking system. Mr. Bonenberger states, "There is a strong desire for Americans to assist entrepreneurs in creating their American dream. AIA will play its part in helping rebuild the financial infrastructure needed to restore the U.S. economy." Micro lending platforms have achieved incredible success in the international marketplace, and AGEL.PK and GGI collectively believe that Americans will embrace this platform domestically.

Angels in Action will serve as the microfinance stage for GATE Impact US. The GATEway platform will ultimately facilitate Impact Investing and Microfinance in the US market. This acquisition will enable GGI to achieve a more holistic solution for sustainable investments across multiple customer segments. The convergence of Community Reinvestment, Community Banking and Microfinance will create "Impact Banking" in the US. There is clearly a new customer demographic in the marketplace. Purchasing methods and tools have evolved. Microloans repaid with micro-payments. Virtual Good created with Virtual Currency. "We are proud to extend our platform in the emerging U.S. Microfinance sector, and connect with a historically overlooked demographic that has proven profitable globally," said William Davis, President of GATE Impact, LLC.

About GATE Technologies LLC
GATE Technologies is an innovative financial technology company creating new market infrastructure for bringing efficiency and transparency to the unstructured global alternative asset markets. The company offers fully automated, customizable solutions for qualified investors with value-added content and analytics, transparent execution, and dematerialized settlement, clearing, and depository functions. GATE Developing Markets will work together to create the first global common infrastructure for illiquid securities, with a goal of enabling all market participants.

About GATE Global Impact, LLC
GATE Global Impact, LLC is the impact investing-focused subsidiary of GATE Technologies, LLC. Launched in 2011, GATE Impact provides market infrastructure and related services for the emerging impact investment and banking industries -- public and private investments with a sustainable social and/or environmental component that also generate a healthy rate of financial return. 

About Angels in Action
Angels in Action is the Micro-Finance division of Angel Acquisition Corporation, a publicly traded company which trades on the bulletin board under the symbol AGEL.PK. AIA finances small and medium sized companies that comply with specific financial criteria and value based principles. AIA serves the entrepreneur who has been neglected by traditional financing by providing financing and advisory services to aid the entrepreneur in moving from idea to operation.

Safe Harbor Statement
From time to time, the Company may issue news releases that contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be 'forward-looking statements.' 'Forward-looking statements' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.

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