CALGARY, ALBERTA--(Marketwired - Sept. 30, 2016) - Vogogo Inc. ("Vogogo" or the "Company") (TSX VENTURE:VGO) announces today that, pursuant to the previously announced share purchase agreement dated January 1, 2015 in which it acquired all of the issued and outstanding shares of Vanado, Inc. (the "Agreement"), the Company has issued an aggregate of 500,000 common shares in the capital of Vogogo ("Shares") pursuant to the Agreement at a deemed value of $83,500 based on the 5 day VWAP of the Shares on the TSX Venture Exchange ("TSXV") ending on September 9, 2016.
Vogogo also announces that in connection with the changes in management and cost reduction initiatives of the Company, an aggregate of 1,225,000 stock options have been cancelled as of the date hereof.
About Vogogo Inc.
Vogogo Inc. has provided payment processing and related transaction risk services. The Company has developed software that administers multiple electronic payment types in the US, UK and Canadian markets. During 2016, Vogogo has discontinued its payment providing services and the Company is assessing alternative business opportunities.
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 press release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. All information, other than information regarding historic fact that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future is forward-looking information. Forward-looking information contained in this news release includes, but is not limited to the Company assessing alternative business opportunities. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Vogogo. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Vogogo. Vogogo does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.