SOURCE: GATE Technologies, LLC.

GATE Technologies, LLC.

GATE Technologies, LLC.

March 23, 2011 18:00 ET

GATE Technologies Acquires Controlling Interest of Angels in Action

Extends Its Offerings Into Micro-Finance

NEW YORK, NY--(Marketwire - March 23, 2011) - GATE Technologies announced today that it has acquired a controlling interest in Angels in Action ("AIA"), a peer-to-peer, micro-finance platform serving US-based entrepreneurs. The transaction will enhance the offerings of GATE Global Impact, a GATE subsidiary focused on Impact investing.

Entrepreneurs currently use AIA's platform to fund business projects when access to the traditional banking system is not available. Individual lenders can help fund AIA projects, putting forward as little as $10 at a time.

Once AIA is integrated into GATE Global Impact's trading platform, known as GATEway, companies will have the opportunity to grow beyond their initial funding stages while maintaining their social mission. As such, GATE's acquisition enables entrepreneurs to access leading Impact investors. 

"There is a strong desire for Americans to assist entrepreneurs in creating their American dream," said Stephen Bonenberger, founder and CEO of AIA. "By partnering with GATE, AIA will play its part in helping rebuild the financial infrastructure needed to ensure the US continues to lead the world with a great, vibrant economy."

Bonenberger added, "There is clearly a new customer demographic in the marketplace. Purchasing methods and tools have evolved. By integrating AIA's platform with GATEway, we will ultimately facilitate Impact investing and micro-finance in the US market. In addition, we aim to redefine the boundaries of community banking." 

"We are proud to extend our platform in the emerging U.S. micro-finance sector and connect with a historically overlooked demographic that has proven profitable globally," said William Davis, President of GATE Global Impact.

Terms of the transaction were not disclosed. 

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.OB. 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, moving from idea to

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