SOURCE: Consorteum Holdings, Inc.

December 07, 2010 06:00 ET

Consorteum Holdings, Inc. Announces Agreement With Peoples Trust Company to Deploy Branded MasterCard® Prepaid Card Services to First Nations Communities in Canada

LAS VEGAS, NV--(Marketwire - December 7, 2010) - Consorteum Holdings, Inc. (PINKSHEETS: CSRH) ("CHI" or the "Company") is pleased to announce that its wholly-owned subsidiary Consorteum, Inc. has signed a five (5) year Prepaid Card Distribution Agreement with Peoples Trust Company to provide a "Consorteum custom branded" MasterCard prepaid payroll card program to First Nations communities throughout Canada.

The agreement enables the Company to market and distribute its own co-branded MasterCard prepaid payroll card (branding to be announced) such that the cards can be directly loaded by each First Nations community administration with payroll and benefits through direct payroll loads. The cards will be issued by Peoples Trust Company as a licensed issuer of MasterCard prepaid cards in Canada.

The Company intends to launch the program early in 2011, with the program initially being marketed to more than 600 First Nations communities in Canada with over 400,000 eligible participants. The Company will share revenues generated by the program operation directly with those participating communities. The Company anticipates that the revenue sharing arrangements will create potential for employment and training opportunities within those communities.

Craig Fielding, CEO of Consorteum Holdings, Inc., commented, "After a long time planning and building the relationships required to deploy this program, we are very happy to be launching the program. This initiative is a priority for Consorteum Holdings as it validates the work put into it by a very dedicated team. Given the relationships and commitments we have already received, we expect to see the positive adoption of the program in early 2011. We expect the success of the program to drive revenues directly back to the participating communities to help train, employ and support the local First Nations communities."

About Consorteum Holdings, Inc.

The Company provides pioneering technology solutions and management expertise to companies and organizations looking to develop, streamline or augment their methods of processing payment transactions. It operates as a technology and services aggregator to meet the diverse needs of its client base by leveraging its wide ranging partner technologies to develop end-to-end, turn-key card and payment transaction processing solutions. The Company has accumulated extensive expertise within the Payments and Transaction Industry in North America, Europe, and internationally. CHI has built its reputation with one goal, "For our customers to look at us as partners, not just a technology provider."

For more information, please visit: www.consorteum.com

About Peoples Trust Company

Peoples Trust has become a very successful provider of financial services by combining price competitive products with truly exceptional customer service and support. They maintain a unique and enviable position among Canada's financial institutions as a result of long-term profitability, steady asset growth and the ability to perform above and beyond customers' expectations. Peoples Trust is headquartered in Vancouver, British Columbia, Canada.

For more information, please visit: www.peoplestrust.com

Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements. We caution that words used in this document such as "expects," "anticipates," "believes," "may," and "optimistic," as well as similar words and expressions used herein, identify and refer to statements describing events that may or may not occur in the future. These forward-looking statements and the matters to which they refer are subject to considerable uncertainty that may cause actual results to be materially different from those described herein. There are numerous factors that could cause actual results to be different than those anticipated or predicted by us, including: (i) a deterioration in economic conditions in general; (ii) a decrease in demand for our products or services in particular; (iii) our loss of a key employee or employees; (iv) regulatory changes, including further changes in the area of credit card regulation or implementation of new regulations in furtherance of the new legislation that may have an adverse affect on the demand for our products or services; (v) increases in our operating expenses resulting from increased costs of labor and/or consulting services; (vi) our inability to exploit existing or secure additional sources of revenues or capital to fund operations; (vii) a failure to collect upon or otherwise secure the benefits of existing contractual commitments with third parties, including our customers; and (viii) other factors and risks identified in our SEC filings. This list provides examples of factors that could affect the results described by forward-looking statements contained in this press release; however, this list is not exhaustive and many other factors could impact our business and it is impossible to predict with any accuracy which factors could result in negative impacts. 

Contact Information

  • Contact:
    Consorteum Holdings, Inc.
    20 Adelaide Street East, Suite 910
    Toronto, Ontario,
    Canada, M5C 2T6

    investors@consorteum.com
    Telephone: +1 877-414-2774