Zoompass Holdings Inc.

Zoompass Holdings Inc.

May 11, 2017 15:57 ET

Zoompass Issues Statement About Its Common Stock OTC Markets Listing

TORONTO, ONTARIO--(Marketwired - May 11, 2017) - Zoompass Holdings Inc. ("Zoompass" or the "Company") (OTCQB:ZPAS) announces that the OTC Markets Group, Inc. has listed ZPAS common stock on its OTC Pink Current Information, rather than on the OTCQB, and placed the Caveat Emptor symbol on the company profile as a result of the promotional activities that was disclosed in our Press Release issued May 9, 2017. As a matter of policy, when it has come to the attention of OTC Markets that a security has been the subject of promotional activities, OTC Markets may at its discretion label a security "Caveat Emptor." Promotional activities may include newsletters, whether they are published by the company or a third party, as was the case here.

We note that the Caveat Emptor sign does not mean or imply that any public information made available by the Company is inaccurate, incomplete or insufficient in any way, and is not an opinion or suggestion by the OTC Markets or the Company regarding the price of the Company's common stock. We assure the public that all of our press releases, SEC filings and information on our website (www.zoompass.com) and the OTC markets profile remains true, correct and complete. We encourage anyone considering an investment in our securities to review our public filings, website and press releases and to not rely on third party newsletters/recommendations or general stock symbols/classifications or other identifiers regarding our securities, whether positive or negative, as these items are simply opinions/policies of a third party and should not be a substitute for investors' research and independent decision making process.

"The Company supports the OTC Markets' policy regarding promotional activities," stated Rob Lee, Chief Executive Officer of Zoompass Holdings, Inc., "but we also strongly believe that our public disclosures are accurate and complete, and that they fully describe our commitment to our business plan and our progress in effectuating our business plan. We believe that any increased market interest in our securities in recent weeks is the result of those efforts and disclosures, and not materially related to any newsletters that may have been distributed by third parties. Our investors are encouraged to do their own research and not to rely on third parties, and we believe that our public filings and our website make it very easy for investors and potential new investors to do just that." The Caveat Emptor symbol will remain on the Company profile until OTC Markets Group believes there is no longer a public interest concern, and we will work with OTC Markets diligently on that front.

About Zoompass is a leading financial services technology company with a unique place in the Fintech space as both a financial platform provider with divisions in physical prepaid cards, financing enablement, and mobility products. Zoompass provides businesses and government tailored solutions to help digitize their financial transactions. In the card sector, Zoompass offers complete program management services for a wide range of open loop Visa® and MasterCard® prepaid and virtual card accounts. Zoompass enables businesses to provide their customers with a number of open loop card choices including, gift card, incentive cards, check replacement cards and online virtual card accounts. The company also provides advanced mobile technology, enabling businesses to provide their customers with a white label mobile wallet solution, like Zoompass, with the ability to manage their card balances, bill pay, transfer funds and perform card to card money transfers in real time using their mobile devices. Zoompass's mobile device division helps carriers and mobile device manufacturers integrate the financial platform technology into their offerings. For more information about Zoompass, visit www.zoompass.com.

Safe Harbor:

From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. Forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual financial or operating results, performances or achievements expressed or implied by such forward-looking statements not to occur or be realized. Forward-looking statements made in this press release generally are based on our best estimates of future results, performances or achievements, predicated upon current conditions and the most recent results of the companies involved and their respective industries. Forward-looking statements may be identified by the use of forward-looking terminology such as "may", "will", "could", "should", "project", "expect", "believe", "estimate", "anticipate", "intend", "continue", "potential", "opportunity" or similar terms, variations of those terms or the negative of those terms or other variations of those terms or comparable words or expressions. Potential risks and uncertainties include, among other things, such factors a general economic conditions, the fulfillment of sales orders, delivery of product, the impact of legislation and the competition within our industry.

Contact Information

  • Zoompass Inc.
    Rob Lee, Steve Roberts, Brian Morales