SOURCE: FastFunds Financial Corp.

July 17, 2014 09:00 ET

FastFunds Financial Corporation and Subsidiaries Cannabis Angel, Inc. and The 420 Development Corporation Announce the Completion of a Second Agreement Pertaining to the Acquisition of a Revenue Producing Company Specializing in Event Staffing and Security

WEST PALM BEACH, FL--(Marketwired - July 17, 2014) - FastFunds Financial Corporation ("FastFunds" or the "Company") (PINKSHEETS: FFFC) and its wholly-owned subsidiaries, Cannabis Angel, Inc., and The 420 Development Corporation, are pleased to announce the completion of a second signed letter of intent pertaining to the acquisition of a revenue producing company specializing in event staffing and security services. The acquisition candidate specializes in unarmed security and staffing services and has developed its business over the past 25 years to include several large scale contracts with clients servicing industries such as industrial manufacturing, food processing, residential subdivisions, retail shopping facilities, hospitals, and construction sites. Upon closing of this proposed acquisition, the Company will look to diversify their existing marketing strategy to include security and staffing based services within the cannabis sector. 

The Company has met with the acquisition candidate and hopes to complete its due-diligence as soon as possible. At that time, the Company will work alongside its accounting and legal staff to prepare a definitive agreement to pursue the completion of this proposed transaction. 

The aforementioned letter of intent is non-binding. Completion of this transaction is subject to, amongst other things, further due diligence by the parties, negotiation and execution of a definitive agreement, and any board of director and/or stockholder approvals as necessary.

Mr. Henry Fong, President of FastFunds Financial Corporation states: "We are very pleased with the progress we are making towards finalizing the process of completing our necessary due diligence. All members of our staff are dedicated towards completing their financial, legal and regulatory compliance due diligence. We are excited about the prospect of closing this and other acquisitions in the near future. These series of proposed acquisitions will add value to the Company and will generate increased value to our existing and future shareholders."

The Company anticipates that once this proposed transaction has been finalized, the investment community at large will recognize the value that has been generated and will reward our current and future shareholders with higher valuations.

Shareholders of the Company can expect to receive additional updates as to these developments in the coming weeks.

About FastFunds Financial Corporation

FastFunds Financial Corporation is a holding company that is publicly traded on the Pink Sheets exchange, under the symbol "FFFC." The Company currently operates in the financial services industry segment with a single credit card services portfolio. The Company is currently seeking new business opportunities to diversify and complement its current services and products, to enhance its technical capabilities and to offer growth opportunities to its stockholders. The Company recently announced the formation of Cannabis Angel, Inc., a company involved in providing financing alternatives, corporate finance and general management consulting services to early-stage cannabis companies and related ventures. Most recently, the Company developed and launched GreenEnergyMedia.TV. This new website acts as an interactive social media hub that caters exclusively to providing the medical and recreational marijuana communities with access to several hundred news and social media feeds in real-time.

FORWARD-LOOKING STATEMENTS

This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

  • For Further Information Please Contact:
    FastFunds Financial Corporation & Cannabis Angel, Inc.
    Mr. Henry Fong
    Chairman and Chief Executive Officer
    Phone: (561) 514-9042