Pingify International Inc.
OTCQB : PGFY

May 05, 2014 23:39 ET

Pingify International Inc. Comments on Recent Stock Volume and Price Increase

EDMONTON, ALBERTA--(Marketwired - May 5, 2014) - PINGIFY INTERNATIONAL INC. ("Pingify" or the "Company") (OTCQB:PGFY) a Nevada corporation, announces that it has been advised of a significant increase in the share price and trading volume of the Company's shares beginning Friday, May 2, 2014 and continuing Monday May 5, 2014.

The Company has been advised by the British Columbia Securities Commission ("BCSC") that the Company is the subject of a promotional campaign by multiple newsletter writers. The material being distributed contains promotional language pertaining to the Company's business, activities and future share price. The promotional campaign coincides with, and appears to have effected, a significant increase in the share price and trading volume of the Company's shares beginning Friday May 2, 2014.

The Company and its officers and directors did not authorize or participate in the promotional campaign in any way and do not endorse it. The Company and its officers and directors only became aware of the promotional campaign when advised by the BCSC.

A disclaimer by one of the letter writers indicates that Laluna Services Inc. (Laluna) engaged, and may compensate, the letter writer for the promotional campaign. The Company and its officers and directors:

  • do not know who beneficially owns controls or represents Laluna,
  • do not know if Laluna owns shares of the Company,
  • did not participate in, or benefit from, trading in the shares of the Company during the promotional campaign.

The Company and its officers and directors are unaware of any business reason for this market activity and price increase. All material developments concerning the Company of which its officers and directors are aware have been disclosed in the Company's filings with the United States Securities and Exchange Commission and SEDAR. The Company encourages anyone interested in the Company to review its filings with the Securities and Exchange Commission (US) or on SEDAR (Canada).

On Behalf of the Board
Jason Gray, President and CEO

Forward-Looking Statements

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipates", "believes", "estimates", "expects", "intends" and similar expressions, as they relate to Pingify or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of various factors. Pingify does not undertake any obligation to update such forward-looking statements. Investors are cautioned to consider all other risks and uncertainties affecting the company, including those in its filings made with the Securities and Exchange Commission.

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