Midpoint Holdings Ltd.

Midpoint Holdings Ltd.

May 03, 2017 15:31 ET

Midpoint's CEO Acquires Over 10% of Common Shares

LONDON, UNITED KINGDOM--(Marketwired - May 3, 2017) - Midpoint Holdings Ltd. (TSX VENTURE:MPT) ("Midpoint" or the "Company") reports that David Wong, Chief Executive Officer and Chairman has acquired 1,154,000 common shares through open market purchases, of which over 200,000 shares were acquired in the last 30 days.

Following the acquisition of these securities, Mr Wong's ownership and control of 8,604,056 shares represents 10.4% of the issued and outstanding common shares of Midpoint.

Together with Mr Wong's existing holdings and warrants to acquire a further 3,650,00 common shares, these securities represent an aggregate of 14.2% of the issued and outstanding shares of the Company calculated on a partially diluted basis assuming exercise of all the warrants held by Mr Wong.

The Acquired Shares were acquired for investment purposes. Mr. Wong has a long-term view of the investment and may acquire additional common shares of Company either on the open market, or through private acquisitions or sell the common shares on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other relevant factors.

About Midpoint

Headquartered in London, Midpoint is an FCA authorized payments institution with the world's first authentic peer-to-peer ('P2P') foreign exchange marketplace. SMEs, overseas professionals, property owners, foreign students, individuals and anyone involved in international payments, use Midpoint's US patent protected platform for transparent, multi-party, multi-currency services.

Midpoint is currently handling transactions in 22 currencies with the ability to collect and transfer across 72 countries. This highly secure platform provides customers with the most cost-effective FX at the midpoint of the interbank buy/sell rate therefore removing the spread as well as hidden costs and fees.

Midpoint Holdings Limited is listed on the TSX Venture Exchange and cross-listed on the Frankfurt Stock Exchange.

Neither the TSX Venture Exchange (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 news release.

Forward-looking information

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

  • Corbin Comishin
    Chief Financial Officer
    Midpoint Holdings Ltd.
    Tel: (250) 352-7667

    David Wong
    26 Finsbury Square
    EC2A 1DS
    London, United Kingdom
    Tel: +44 20 7448 3081