SOURCE: Paivis, Corp.

January 30, 2008 17:08 ET

Trustcash Holdings, Inc. and Paivis, Corp. Announce Signing of Term Sheet for Financing With Mistral Ventures, Inc.

NEW YORK, NY--(Marketwire - January 30, 2008) - Trustcash Holdings, Inc. ("Trustcash") (OTCBB: TCHH) and Paivis, Corp. ("Paivis") (OTCBB: PAVCE) and Mistral Ventures, Inc. ("Mistral") (OTCBB: MILV) today jointly announced their execution of a Binding Term Sheet with Mistral Ventures, Inc. ("Term Sheet") whereby Mistral has agreed to finance on a best efforts basis a minimum of $2,000,000 but no more than $7,000,000 towards the financing required by Trustcash under the Definitive Agreement and Plan of Merger (the "Merger") between Trustcash and Paivis.

Mistral further agreed in the Term Sheet to provide interim financing to both Paivis and Trustcash to cover the costs of the Merger and miscellaneous working capital at a minimum level of $150,000 combined.

Greg Moss, the Chief Executive Officer of Trustcash, commented, "With an investor stepping in to provide capital and pledge their support in funding the Merger it is strong statement to our business plan. We look forward to strengthening our relationship with Mistral and completing the Merger with Paivis."

Edwin Kwong, the Interim Executive Officer of Paivis, commented further, "We are excited about Mistral taking the lead role to fund our Merger with Trustcash; their belief in the future of our companies is appreciated."

About Trustcash

Through its Trustcash brand and website,, the Company is a pioneer of anonymous payment systems for the internet. It developed a business based on the sale of a stored value card (both virtual and physical) that can be used by consumers to make secure and anonymous purchases on the internet without disclosing their credit card or personal information. Trustcash provides to its customers the "Trustcash™" payment card, which is sold in denominations ranging from $10 to $200 either online, through any of over 500 websites, or at over 50,000 retail locations in the United States via MoneyGram. Trustcash's non-reloadable, virtual Trustcash card is the only "stored value card" that can be purchased where no personal data is stored or available, providing a unique level of both security and privacy to the purchaser.

About Paivis, Corp.

Paivis, Corp. is a wholesale telecommunications carrier that sells prepaid "point-of-sale activated" and live cards. Paivis generates its revenues through the sale of prepaid calling cards and wireless services, and international wholesale termination. Products are sold throughout many of the country's major retail outlets, including Duane Reade, 7-Eleven, and Chevron.


The Private Securities Litigation Reform Act of 1995 (the "PLSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.

Statements contained herein that are not based on historical fact , as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA. Trustcash and Paivis intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause Trustcash and Paivis actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in Trustcash and Paivis' annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at

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