SOURCE: Spindle Inc.

Spindle Inc.

January 26, 2012 10:55 ET

Spindle Inc. Names New Board Directors and Advisor

Seasoned Innovators and Financial Experts Assemble to Support Alternate Payment Solutions Provider

SCOTTSDALE, AZ--(Marketwire - Jan 26, 2012) - Spindle Inc. (OTCBB: SPDL) ("Spindle") ("The Company"), a national provider of innovative mobile commerce and alternate payment solutions for businesses and consumers, has announced several appointments to its new Board of Directors and Board of Advisors.

Spindle Founder David J. Ide will serve as Chairman of the Board. He formed Spindle in January, 2011, after serving as chief executive officer of Augme Technologies (fka Modavox, Inc.) from 2005-2009, when the company completed the asset purchase of New Aug, LLC (a New York Corporation). Following integration, Mr. Ide began serving as Chief Strategy Officer of Augme through August, 2010 to focus on the forward vision of the organization, and continued his relationship with Augme as a consultant through June, 2011. During Mr. Ide's tenure with Modavox, Inc. and Augme Technologies he developed a foundation of intellectual property advancement and innovative customized advertising platforms widely known as highly relevant and market leading. Mr. Ide is considered a leading innovator in the mobile commerce sector, technology, and intellectual property and a founding partner in several technology companies including Kino Communications, Kino Interactive, AudioEye LLC, and SEFE, Inc., where he serves as an Independent Director.

John M. Devlin Jr. has been named Independent Director, Audit and Nominating Committee Chairman of Spindle. He also currently presides as Director and Audit Committee Chairman of Augme Technologies, Inc. A 35-year veteran of the investment and asset management business, Mr. Devlin was a Senior Portfolio Manager with J.P. Morgan Investment Management, responsible for directing investment activity, providing pension asset and liability advice, as well as tactical and strategic portfolio management for institutional relationships with over $4 billion in assets. Mr. Devlin received an MBA from Pace University and has a degree in finance from Georgetown University.

Serving as Independent Director, Compensation Committee Chairman for Spindle is Glenn Bancroft, Broker and Chief Executive Officer of Bancroft & Associates, a real estate investment and management firm. He represents over $250 million in sales, and has directed a portfolio of more than $500 million during his more than 30 years in domestic and international real estate. In addition to his tenure with Bancroft & Associates Mr. Bancroft served as a Director of NetMoney In, Inc., a leader in Intellectual Property advancement in payment networks and payment technology.

In addition, Spindle named to its Board of Advisors, Senior Advisor Mr. Eddie Wang Rodriguez.

Mr. Rodriguez, a member of the Company's legal counsel, is partner at Mintz Levin, one of the world's leading law firms. Mr. Rodriguez, who serves on the firm's management committee and as Managing Partner for the firm's San Diego office, has represented clients in over 250 mergers and acquisition transactions. He is considered a foremost authority on corporate formation, M&A activities, and a broad range of transactional matters in the telecommunications, medical and IT sectors. Mr. Rodriguez received his B.A. from the University of California at Los Angeles (1991) and his J.D. from Stanford Law School (1994). While studying at Stanford Law School, Eddie was the Editor-in-Chief of the Stanford Journal of International Law and the Articles Editor of the Stanford Law and Policy Review. He was named in the 2006 edition of Lawdragon's Lawdragon 500 New Stars, New Worlds guide, a publication that recognizes "the freshest faces in American law."

"Spindle continues to attract and develop a team, including directors and advisors, each providing tremendous depth and experience to our company," said Mr. Bill Clark, President of Spindle, Inc. Clark added, "These individuals have not only demonstrated a high level of achievement in their own endeavors, they have a proven track record in helping emerging companies mature into market leaders. We are confident that our Board of Directors and Board of Advisors will play a significant role in advancing Spindle's evolution to become a leading provider of conversion and transaction solutions for merchants and consumers."

About Spindle, Inc.
Spindle Mobile is an innovator of mobile payment solutions for the banking industry, retail sector and consumer-facing companies. A pioneer in "Frictionless Finance", the company is actively developing new and improved ways for companies and end consumers to fluidly transact and exchange funds, regardless of platform. The Company is dedicated to delivery of secure payment services crossing traditional boundaries by offering cutting-edge solutions that enable buyers, sellers and individuals to transact face-to-face or virtually using mobile or internet devices, this includes RhinoPay®, a product name acquired in September 2011from RhinoPay, Inc., a frictionless way to pay. The Company also owns and has developed an extensive intellectual property portfolio, including patents pending, covering networks, mobile payments and security. For more information, visit

Forward-Looking Statements
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

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