EFT Canada Inc.

EFT Canada Inc.

November 12, 2013 14:37 ET

EFT Canada Client Breaches Service Agreement

TORONTO, ONTARIO--(Marketwired - Nov. 12, 2013) - EFT Canada Inc. ("EFT") (TSX VENTURE:EFT), a leading technology provider of electronic funds transfer services, today announced that a client had breached its service agreement creating a receivable of approximately $830,000, which may not be recoverable. The Company is dependent upon the collection of this receivable or raising additional funds in order to maintain sufficient working capital. There are no assurances that the Company will be successful in collecting this receivable or raising the required financing.

The Company continues to discuss the matter with its legal counsel and is actively exploring all methods of collection and enforcement.


Founded in 2003 and headquartered in Toronto, Ontario, EFT Canada, a leading financial services firm, offers small and medium sized businesses a broad range of innovative and electronic payment solutions, including Canadian and U.S. electronic funds transfer (ACH/EFT), credit card payment processing gateway (PCI DSS Level 1), gift and loyalty programs and fraud prevention services. For more information, please visit www.eftcanada.com.

This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ significantly from those projected herein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • EFT Canada Inc.
    Jonathan Pasternak
    (416) 781-0666