Midpoint Holdings Ltd.
TSX VENTURE : MPT

April 03, 2014 10:48 ET

Midpoint & Transfer Ltd. Receives Regulatory Authorization from the Financial Conduct Authority

TORONTO, ONTARIO--(Marketwired - April 3, 2014) -

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Midpoint Holdings Ltd. (the "Company") (TSX VENTURE:MPT) is pleased to announce that its wholly-owned operating subsidiary, Midpoint & Transfer Ltd., based in the United Kingdom has received regulatory authorization as a Payments Institution from the Financial Conduct Authority, its industry oversight body in the United Kingdom. This new authorization permits the Company to process an unlimited monthly volume of transactions.

The Company also reports roughly 300% growth in transaction volume in Q3 ended March 31, over Q2 which in turn had a similar growth over Q1.

The Company operates the world's first true peer to peer foreign currency matching (netting) and payments service. It currently offers the service in CAD, USD, EURO, British Pound and Swiss Franc.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this press release.

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing Midpoint and its business and affairs, readers should refer to Midpoint's Management's Discussion and Analysis. Midpoint undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Contact Information

  • Midpoint Holdings Ltd.
    The Exchange Tower
    130 King Street West, Suite 3680
    Toronto, ON M5X 1B1

    John G. Booth
    Chairman & CEO
    +44 (020) 220 6382

    Marc Henderson
    Director
    +1 (416) 214 9910