Monthly Archives: April 2015

Skyline Medical Announces Results for Year End 2014

MINNEAPOLIS, MN / ACCESSWIRE / April 30, 2015 / Skyline Medical, Inc. (OTCQB: SKLN) (the “Company”), the producer of the FDA approved STREAMWAY(R) System for automated, direct-to-drain surgical fluid disposal that reduces the risk of exposure to hazardous waste, today reported its results for the fourth quarter and year ended December 31, 2014.

Key 2014 Financial Highlights:

– Trial program sales conversion rate was 95%
– Revenues increased 103% to $951,559
– Units sold increased 263% to 79 year-over-year
– Operating expenses decreased 11% year-over-year
– General and administrative expense decreased 35% year-over-year
– Interest expense decreased 41% year-over-year

Key 2014 Operational and Marketing Highlights:

– Signed contracts with major hospital chains and academic centers, including VA Medical Centers, Penn State Milton S. Hershey Medical Center and Duke University Health System
– Increased installation base to 47 facilities, in 16 states
– Trial program sales conversion rate was approximately 95%, based on 17 trials to date
– Enhanced existing IP portfolio
– Focused on R&D to continuously enhance product
– Began penetrating the from Interventional Radiology departments market

Full-year 2014 revenues rose to $951,559, up 103% compared to $468,125 in 2013. Gross profit for 2014 was $566,236, or 60% of revenues, an increase from $278,418, or 59% of revenues, in 2013.

Net loss for 2014 was ($6.8) million, or ($2.29) per diluted share, compared to net loss of ($9.4) million, or ($4.64) per diluted share, in 2013. The improvement in net loss was driven by decreases in General and Administrative, Interest expense, Operations expenses and a gain on the valuation of equity-linked financial instruments, and was partially offset by higher Sales and Marketing expenses.

“Our sales strategy of encouraging medical centers to trial our fluid management system prior to committing to a purchase, is proving to be a very successful method of engaging with new customers and has resulted in a 95% conversion to sales rate and a shorter sales cycle,” commented Josh Kornberg, CEO of Skyline Medical. “The trial system is also helpful in getting our sales team in front of potential customers in previously untapped areas; accordingly, we have seen an increase in interest and orders from Interventional Radiology departments whereas we’d historically been selling primarily to operating rooms.

“Over the year we signed several new contracts and increased our installation base to 47 facilities, in 16 states. This includes large hospital systems across the U.S. as well as smaller facilities. The diversity of our customer base is a testament to the broad appeal of the STREAMWAY System and demonstrates that there is large potential market for our direct-to-drain technology, which is significantly safer, more hygienic and cost efficient for our customers than the outdated canister based method that most hospitals still currently employ.

Kornberg concluded, “Looking ahead, we will continue to work diligently to grow revenues and our sales team is proactive in working to increase our exposure to major Group Purchasing Organizations (GPO’s) which we recognize is an important step in improving our reach in the industry. We also intend to seek the necessary approvals to distribute our products in Europe, Asia, Latin America, Canada, and other areas outside the U.S. The dangers of exposure to infectious fluid waste are well recognized in the medical community. Our marketing efforts are centered on educating medical staff about the risks of contamination using current waste collection procedures and the advantages of the fluid management system in protecting medical personnel from inadvertent exposure. We are leveraging this medical awareness and concern with education of regulatory agencies at the local, state and federal levels.”

About Skyline Medical, Inc.:

Skyline Medical, Inc. produces a fully automated, patented, FDA cleared, surgical fluid disposal system that virtually eliminates operating room workers’ exposure to blood, irrigation fluid and other potentially infectious fluids found in the surgical environment. Today’s manual surgical fluid handling methods of hand-carrying filled surgical fluid canisters and emptying these canisters is an exposure risk and is not an optimal approach to the handling of surgical fluid waste. Skyline Medical’s STREAMWAY(TM) System fully automates the collection, measurement and disposal of surgical fluids and is designed to result in: 1) reducing overhead costs to hospitals and surgical centers, 2) improving Occupational State and Health Association (OSHA) and other regulatory compliance agencies’ safety concerns, and 3) streamlining the efficiency of the operating room (and thereby making surgeries more profitable). Skyline Medical’s STREAMWAY System is eco-friendly as it contributes to cleaning up the environment. Currently, approximately 50 million bloody, potentially disease infected canisters go to landfills annually in the United States. These tainted canisters can remain in landfills for years to come. With the installation of Skyline Medical’s STREAMWAY System, the number of canisters can be significantly reduced. Skyline Medical, Inc.’s STREAMWAY System is designed to make the operating room and our environment safer, cleaner, and better. Skyline Medical products are currently being represented by independent professional sales representatives that cater to the needs of hospitals and ambulatory surgical centers across the country. For additional information, please visit: www.skylinemedical.com.

Forward-looking Statements:

Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the company’s business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include, among other things, continued dependence on financing transactions to generate sufficient cash to stay in operation, with a limited cash balance; current negative operating cash flows of approximately $250,000 per month; our deferral or delay of payments to vendors, suppliers and service providers; our balance of debts, liabilities and cash obligations that are either considered past due or that will become due in calendar 2015 of approximately $6.4 million as of December 31, 2014 and that has continued to increase, including continuing incurrence of interest, late fees and penalties; the terms of any financing, which may be highly dilutive and may include onerous terms; risk of inability to make necessary investments to effectively pursue our business plan; unwillingness of our suppliers, vendors and service providers to supply components or services or extend credit; potential lawsuits from claimants relating to past due balances, who may seek to seize our assets or assert other judicial remedies; and risk of a possible reduction or suspension of our operations, ultimately forcing us to declare bankruptcy, reorganize or go out of business, which may cause an investor to lose all or a significant portion of their investment. Our independent registered public accounting firm has indicated in their audit opinions that they have serious doubts about our ability to continue as a going concern. Further risks include unexpected costs and operating deficits, and lower than expected sales and revenues, if any; uncertain willingness and ability of customers to adopt new technologies and other factors that may affect further market acceptance, if our product is not accepted by our potential customers, it is unlikely that we will ever become profitable, adverse economic conditions; adverse results of any legal proceedings; the volatility of our operating results and financial condition; inability to attract or retain qualified senior management personnel, including sales and marketing personnel; our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission, which are available for review at www.sec.gov. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the company’s financial position. See the Company’s most recent Annual Report on Form 10-K, and subsequent reports and other filings at www.sec.gov.

 

 

CONTACT:

Skyline Investor Relations Contact:
Phil Carlson
KCSA Strategic Communications
212-896-1233
skyline@kcsa.com

SOURCE: Skyline Medical, Inc.

ReleaseID: 428399

Helius Medical Technologies Announces Closing of Cad $2,208,110 Non-Brokered Private Placement

NEWTOWN, PA / ACCESSWIRE / April 30, 2015 / Helius Medical Technologies, Inc. (CSE: HSM; OTCQB: HSDT) (“Helius”, or the “Company”) is pleased to announce that it has closed a non-brokered private placement (the “Financing”) raising gross proceeds of CAD $2,208,110 (approximately USD $1,825,937) by the issuance of 849,273 units (each a “Unit”) at a price of CAD $2.60 per Unit (USD $2.15 per Unit). Each Unit consists of one (1) common share and one half of one (1/2) common share purchase warrant (each a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of approximately CAD $3.62 per share (USD $3.00 per share) for a period of thirty-six (36) months from the closing date of the Financing.

The Company has agreed to pay a cash finder’s fee of CAD 101,494 (USD $84,074) in connection with this Financing, as well as 27,396 finder’s warrants (the “Finder’s Warrants“). Each Finder’s Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of CAD $3.62 per share (USD $3.00 per share) for a period of thirty-six (36) months from the closing date of the Financing.

All securities issued in this Financing are subject to a statutory hold period expiring on September 1, 2015.

The Financing will provide further funding for the development of the PoNSTM technology and for general corporate purposes.

About Helius Medical Technologies (HMT)

Helius Medical Technologies is a medical technology company focused on neurological wellness. The company’s mission is to develop, license and acquire non-invasive treatments designed to help patients affected by neurological symptoms caused by disease or trauma. For more information, please visit www.heliusmedical.com.

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

All statements in this news release, other than statements of historical facts, are forward-looking statements. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include risks detailed from time to time in the filings made by the Company with securities regulators

The reader is cautioned that assumptions used in the preparation of any forward-looking 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 the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

Contact:

US Investor Relations:

Todd James
646 378 2926
tjames@troutgroup.com

Canadian Investor Relations:

778-588-7144
info@heliusmedical.com

Corporate Contact:


Phil Deschamps
614-596-2597
pdeschamps@heliusmedical.com

Media Contact:

Becky Kern
914-772-2310
media@heliusmedical.com

SOURCE: Helius Medical Technologies, Inc. 

ReleaseID: 428395

Helius Medical Technologies Announces Closing of Cad $2,208,110 Non-Brokered Private Placement

NEWTOWN, PA / ACCESSWIRE / April 30, 2015 / Helius Medical Technologies, Inc. (CSE: HSM; OTCQB: HSDT) (“Helius”, or the “Company”) is pleased to announce that it has closed a non-brokered private placement (the “Financing”) raising gross proceeds of CAD $2,208,110 (approximately USD $1,825,937) by the issuance of 849,273 units (each a “Unit”) at a price of CAD $2.60 per Unit (USD $2.15 per Unit). Each Unit consists of one (1) common share and one half of one (1/2) common share purchase warrant (each a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of approximately CAD $3.62 per share (USD $3.00 per share) for a period of thirty-six (36) months from the closing date of the Financing.

The Company has agreed to pay a cash finder’s fee of CAD 101,494 (USD $84,074) in connection with this Financing, as well as 27,396 finder’s warrants (the “Finder’s Warrants“). Each Finder’s Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of CAD $3.62 per share (USD $3.00 per share) for a period of thirty-six (36) months from the closing date of the Financing.

All securities issued in this Financing are subject to a statutory hold period expiring on September 1, 2015.

The Financing will provide further funding for the development of the PoNSTM technology and for general corporate purposes.

About Helius Medical Technologies (HMT)

Helius Medical Technologies is a medical technology company focused on neurological wellness. The company’s mission is to develop, license and acquire non-invasive treatments designed to help patients affected by neurological symptoms caused by disease or trauma. For more information, please visit www.heliusmedical.com.

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

All statements in this news release, other than statements of historical facts, are forward-looking statements. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include risks detailed from time to time in the filings made by the Company with securities regulators

The reader is cautioned that assumptions used in the preparation of any forward-looking 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 the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

Contact:

US Investor Relations:

Todd James
646 378 2926
tjames@troutgroup.com

Canadian Investor Relations:

778-588-7144
info@heliusmedical.com

Corporate Contact:


Phil Deschamps
614-596-2597
pdeschamps@heliusmedical.com

Media Contact:

Becky Kern
914-772-2310
media@heliusmedical.com

 

SOURCE: Helius Medical Technologies, Inc. 

ReleaseID: 428394

Vesper Holdings Expands into Two More Texas Student Housing Markets

New York City, New York, United States, 04/30/2015 /SubmitPressRelease123/

Vesper Holdings (“Vesper”), a privately-held real estate firm based in New York City, has acquired over $150 million in student housing over the past 24 months. Vesper is pleased to announce its two latest acquisitions in Texas – Wildwood San Marcos and University Fountains in Lubbock. With these latest acquisitions, Vesper’s student housing portfolio now totals sixteen apartment complexes and over 9,000 beds. In Texas alone, Vesper now owns six properties totaling 3,044 beds spread across four different university markets.

Wildwood San Marcos is a 132-unit, 528-bed student housing community located in close proximity to Texas State University. Wildwood is comprised of 11 three-story residential buildings and a clubhouse. The Property consists of 132 four-bedroom/four-bathroom flats and townhomes. The units are among the largest in the market at 1,634 SF and all have a desirable one bed to bath ratio. Completed in 2013, Wildwood is one of the newest and most sought after properties in the off-campus market. The property currently maintains a 99% occupancy rate.

Community amenities include a Wi-Fi Cyber Cafe, tanning booths, study lounge, fitness center, media room, sand volleyball court, full basketball court, resort-style, zero-entry swimming pool, poolside gaming area, and high-speed internet access in the common areas. All apartments are fully furnished and feature 46″ SMART TV, full-sized washers and dryers, private bathrooms in bedrooms, wood-style floors thorughout, electronic key system, porches, as well as free cable and high-speed internet.

Vesper purchased Wildwood at a discounted price in an off-market transaction. Vesper is allocating $250,000 toward property improvements. These funds will be used to improve curb appeal, renovate the clubhouse and pool, and upgrade the amenities.

University Fountains is a 228-unit, 683-bed student housing community located within a quarter-mile of Texas Tech University in Lubbock. Completed in 2005, University Fountains contains 17 three- and four-story residential buildings. The Property offers a variety of townhouse and flat style apartments, including one-, three-, and four-bedroom floor plans. All of the units have a desirable one bed to bath ratio. University Fountains maintains a 97% occupancy rate.

University Fountains offers students a full range of amenities including a fitness center, tanning salon, computer lab, resort-style pool area and Jacuzzi, free shuttle to campus, basketball court, and sand volleyball court. Apartment units are fully furnished and include flat screen televisions. Kitchens feature Black-on-Black appliance packages and built-in microwaves. All units have private, full-sized washers and dryers, along with high-speed internet connections in every bedroom. Monthly rent includes expanded cable, high-speed internet, and all utilities.

Vesper purchased University Fountains from a large group of Tenant in Common owners. Vesper is planning to execute a major renovation of University Fountains and will invest nearly $2 million in capital expenditures. Property improvements will include renovation of the units and clubhouse, as well as extensive enhancements to the property’s exterior and community amenities, and substantial technology upgrades throughout the complex.

“Our acquisitions of Wildwood and University Fountains are part of a strategy to purchase well-located Class A student properties with superior risk-adjusted returns,” commented Isaac Sitt, co-founder and principal of Vesper Holdings. “Since we were able to acquire these assets at favorable prices, we are in a position to invest necessary capital and offer these properties at highly competitive rental rates. We are pleased to further expand our presence in the State of Texas and to incorporate these properties into our rapidly growing student housing portfolio.”

About Vesper Holdings

Founded by Elliot J. Tamir and Isaac J. Sitt, Vesper Holdings is a privately-held real estate investment firm based in New York City. Vesper Holdings’ diverse portfolio includes student housing, retail, mixed use, office buildings, and parking structures. In 2010, Vesper Holdings launched a fund dedicated to assembling a portfolio of high quality multifamily properties located in close proximity to university campuses thorughout the United States. Vesper ranks as one of the top 15 student housing owners in the nation. Vesper’s student housing portfolio consists of sixteen apartment complexes with a total of over 9,000 beds. Vesper Holdings anticipates growing its student housing portfolio to 15,000 beds over the next two years. ‘

Source: http://www.vesperholdings.com/

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Read the full story at http://newsreleases.submitpressrelease123.com/2015/04/30/vesper-holdings-expands-into-two-more-texas-student-housing-markets/

ReleaseID: 14972

Confederation Minerals Announces Closing of Non-Brokered Private Placement

VANCOUVER, BC / ACCESSWIRE / April 30, 2015 / Confederation Minerals Ltd. (TSX.V: CFM) is pleased to announce that on April 29, 2015 it has closed its previously announced non-brokered private placement (the “Financing”) raising gross proceeds of $50,000 by the issuance of 1,000,000 units (each a “Unit”) at a price of $0.05 per Unit.

Each Unit consists of one (1) common share and one (1) common share purchase warrant (each a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $0.05 per share for a period of twelve (12) months from the closing date of the Financing.

All securities issued in this Financing are subject to a statutory hold period expiring on August 30, 2015.

The proceeds from the Offering will be used for general working capital and corporate purposes.

On behalf of the Board of Directors,

Confederation Minerals Ltd.

“Lawrence Dick”

Lawrence A.Dick, Ph.D., P.Geo

President, CEO, and Director

CORPORATE INQUIRIES

Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Lawrence Dick, CEO
604.688.9588
lawrence.dick@barongroupintl.com
www.confederationmineralsltd.comM)

About CFM

Confederation Minerals Ltd. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties. Its objective is to locate and develop economic precious and base metals properties of merit. Confederation Minerals Ltd. owns 70% of the Newman Todd project in the Red Lake Mining District of Northern Ontario, as well as 100% ownership in another property in the Red Lake Mining District of Ontario.

SOURCE: Confederation Minerals Ltd. 

ReleaseID: 428393

Modelleisenbahn Figuren Launches Its New Collection Of Model Train Figures

Modelleisenbahn Figuren, a US based company manufacturing miniatures, has launched its latest collection of model train figures. There is a wide variety of model figures to choose from. The company also offers free shipping to the buyers across the globe.

A US based miniature manufacturing company, Modelleisenbahn Figuren, has announced the launch of its customized miniature figures for railway projects. The company provides high quality miniatures to industries such as the railways, construction and traffic control as well as to schools and colleges. The company is also offering the bonus of free delivery on the bulk orders. According to the experts, Modelleisenbahn Figuren is a rapidly growing company and because of its high quality miniature figures, now customized for even more industries, it is bound to grab even more attention from businesses worldwide.

There are several types of miniatures to choose from. These include the bemalte Z Miniaturfiguren, unbemalte Z Modelleisenbahn Figuren, bemalte TT Miniaturfiguren, bemalte H0 (HO) Modellbahnfiguren, bemalte 00 Miniaturfiguren and unbemalte 00 Modelleisenbahn Figuren to name a few. The company also provides unfinished and unpainted miniature figures to its customers.

When asked, the CEO of the company said, “We are happy to announce our company is now all set to sell its new collection of miniature model figures for train and related projects. This all started when our researchers noticed that using a customized miniature figure collection for trains and railways will assist developers in planning improved layouts.” He further added, “We are offering free shipping of our products to those customers who place bulk orders. The free shipping offer is applicable worldwide.”

Apart from the railway miniature figures, the company also manufactures scale model figures, model railroad figures, model railway figures, toy train figures, train figures, scale model scenery, model railroad scenery, toy train scenery, layouts, dioramas and architectural figures to name a few. The company provides a secure online payment transaction option via PayPal.

Image: http://www.abnewswire.com/uploads/8eb246d477b930e008d07cd6f9206456.jpg

About Modelleisenbahn Figuren

Modelleisenbahn Figuren is a German company based in the County of Sussex, USA. The company manufactures top-notch miniature figures for models used by the army, the railways, researchers and school children for their projects.

For more info, please visit: http://www.modelleisenbahn-figuren.com

Logo: http://www.abnewswire.com/pressreleases/wp-content/uploads/2015/04/1430427885.jpeg

“Modelleisenbahn Figuren”

Media Contact
Company Name: Modelleisenbahn Figuren LLC
Contact Person: Manuela Kinne
Email: modeltrainfigures@gmail.com
Phone: 3377188083
Address:16192 Coastal Highway
City: Lewes
State: Delaware
Country: United States
Website: http://www.modelleisenbahn-figuren.com

Source: ABNewswire

ReleaseID: 27542

Issuer Direct Corporation to Host First Quarter Earnings Conference Call and Webcast Live on Thursday, May 7, 2015

MORRISVILLE, NC / ACCESSWIRE / April 30, 2015 / Issuer Direct Corporation (NYSE MKT:ISDR) will host a conference call and live webcast to discuss the results of the first quarter, to be held Thursday, May 7, 2015 at 4:30 PM Eastern Time.

To participate in this event, dial 877-407-8133 domestically, or 201-689-8040 internationally, approximately 5 to 10 minutes before the beginning of the call.

Additionally, you can listen to the event online at http://www.investorcalendar.com/IC/CEPage.asp?ID=173994.

If you are unable to participate during the live webcast, the event archive will be available at www.issuerdirect.com/earnings-calls-and-scripts/.

You may access the teleconference replay by dialing 877-660-6853 domestically or 201-612-7415 internationally, referencing conference ID #13608996. The replay will be available beginning approximately 2 hours after the completion of the live event, ending at midnight Eastern on May 21, 2015.

About Issuer Direct Corporation

Issuer Direct is a disclosure management and targeted communications company. Our integrated platform provides tools, technologies and services that enable our clients to disclose and disseminate information through our network. With a focus on corporate issuers, the Company alleviates the complexity of maintaining compliance with its integrated portfolio of products and services that enhance companies’ ability to efficiently produce and distribute their financial and business communications both online and in print.

Learn more about Issuer Direct today: Investor Tear Sheet

Contact:

For Further Information:

Brian R. Balbirnie
Issuer Direct Corporation
919-481-4000
brian.balbirnie@issuerdirect.com

Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com

James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com

SOURCE: Investor Calendar

ReleaseID: 428385

Vogogo Inc. Announces Purchase of Certain Assets from a Private Risk Management and Consulting Services Company and also Announces the Filing of its 2014 Audited Financial Statements and Related Management Discussion and Analysis

CALGARY, AB and PALO ALTO, CA / ACCESSWIRE / April 30, 2015 / Vogogo Inc. (“Vogogo” or the “Corporation”) (TSX VENTURE: VGO ) is pleased to announce that it has completed the acquisition of certain assets from an arm’s length private risk management and consulting services company (the “Acquisition”) for an initial deemed purchase price of approximately $1.65 million, comprised of the issuance of 600,000 common shares in the capital of the Corporation (“Common Shares”) pursuant to an asset purchase agreement (the “Agreement”). In connection with the Acquisition, the Corporation has entered into employment and consulting agreements with certain individuals. The Acquisition, by way of adding experienced and highly talented individuals, is expected to complement and bolster the Corporation’s existing integrated risk management and compliance services.

The Agreement also provides for certain post-closing payments of up to $3,000,000, which shall be payable in cash or Common Shares, in the sole discretion of the Corporation, upon the Corporation achieving certain performance thresholds set out in the Agreement.

Vogogo CEO Geoff Gordon said of the announcement, “Risk management is such an important part of our business, by adding world class talent to the Vogogo team, this acquisition allows us to better provide effective risk management services to the US, EU and Canadian markets.”

Vogogo also announces that today it has filed its audited annual financial statements for the year ended December 31, 2014, and related management’s discussion and analysis. The financial statements, and management discussion and analysis may be obtained on Vogogo’s SEDAR profile.

The company will be holding an investor conference call on Friday, May 1st at 12 pm ET.

The live conference call will be available by calling 1.888.289.4573.

The participant pass code is 9683834.

About Vogogo

Vogogo is a TSX Venture Exchange (“TSXV”) publicly traded payment services company with integrated risk management and compliance. Founded in 2008, Vogogo designed, built and launched its web-based payment processing technology while growing its expertise in software development, payments, risk management, compliance and related financial services. Vogogo is now executing on its plan to serve global markets. The plan focuses on market opportunities where Vogogo believes it has a competitive advantage due to its positioning and technology.

For further company information please view the Vogogo Media Kit.

For information or interview please contact:

Geoff Gordon

Chief Executive Officer
403-648-9292

Tom Wenz

Chief Operating Officer
403-648-9292

Rodney Thompson

Chief Revenue Officer
403-648-9292

READER ADVISORY

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.

None of the information contained on, or connected to, Vogogo’s website is incorporated by reference herein.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release may contain forward-looking information. 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. 

SOURCE: Vogogo Inc. 

ReleaseID: 428390

Rifco to Securitize Directly with a Canadian Schedule 1 Chartered Bank

RED DEER, AB / ACCESSWIRE / April 30, 2015 / Rifco Inc. (TSXV: RFC) is pleased to announce that its wholly owned subsidiary, Rifco National Auto Finance (“Rifco”), has completed a new Master Purchase and Servicing Agreement (“MPSA”) allowing for a direct securitization facility with a Canadian Schedule 1 chartered bank (“Bank”). Rifco has been receiving funding from this Bank through the Aviator Trust facility since July, 2012.

On October 14, 2014, Rifco announced an Aviator Trust securitization facility renewal with an increase to $30M. This new funding capacity has yet to be accessed, and will now be available directly from the Bank.

On April 10, 2015, Rifco and the Bank executed a MPSA, which will facilitate the new Bank Securitization facility. The Aviator Trust securitized financed receivables will continue to be administered by Securcor Financial Group and will run off in the normal course of loan repayments.

The Bank has now developed the internal capacity to support this administrative change.

In the future, for reporting purposes, Rifco will report the combined receivables as part of the new Bank securitization facility.

The terms, conditions and structure of the facility will remain unchanged, and the previous Aviator Trust renewal date of October 31, 2015 will become the renewal date for the new Bank facility. Rifco must continue to meet certain financial covenants.

Rifco currently has four funding facilities representing eight lenders. The funding facilities total $260M. The Company continues to meet all its financial covenants with all lenders.

Rifco employs a balanced approach for loan portfolio funding of equity, bank borrowing, subordinated debt and loan securitization funders. Management remains confident that access to additional funding for future growth will continue to be available as required.

About Rifco

Rifco Inc. operates through its wholly owned subsidiary Rifco National Auto Finance Corporation to provide automobile loans through its dealership network across Canada.

Rifco National Auto Finance provides consumers with financing options on new and used vehicles. Rifco specializes in building long-term partnerships with dealers by investing time in personalized services through dedicated account representatives. Rifco’s quick credit decisions, common sense lending, and expedited funding processes give its dealers better financing options and more closed deals. Rifco’s most successful partnerships result in “Fast Forward 500 Club” status for its loyal dealerships.

Rifco is committed to continuing growth. Key strategies for achieving this growth include the expansion of its automobile dealer base, excellence in credit and collections processes, and exceptional service to its Dealer partners and its customers.

The common shares of Rifco Inc. are traded on the TSX Venture Exchange under the symbol “RFC”. There are 21.30 million shares outstanding and 22.70 million (fully diluted) shares.

CONTACT:

Rifco Inc.
Lance A. Kadatz
Vice President and Chief Financial Officer
Telephone: 1-403-314-1288 EXT 7007
Fax: 1-403-314-1132
Email: kadatz@rifco.net
Website: www.rifco.net

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

SOURCE: Rifco Inc. 

ReleaseID: 428391

Vogogo Inc. Announces Purchase of Certain Assets from a Private Risk Management and Consulting Services Company and also Announces the Filing of its 2014 Audited Financial Statements and Related Management Discussion and Analysis

CALGARY, AB and PALO ALTO, CA / ACCESSWIRE / April 30, 2015 / Vogogo Inc. (“Vogogo” or the “Corporation”) (TSX VENTURE: VGO ) is pleased to announce that it has completed the acquisition of certain assets from an arm’s length private risk management and consulting services company (the “Acquisition”) for an initial deemed purchase price of approximately $1.65 million, comprised of the issuance of 600,000 common shares in the capital of the Corporation (“Common Shares”) pursuant to an asset purchase agreement (the “Agreement”). In connection with the Acquisition, the Corporation has entered into employment and consulting agreements with certain individuals. The Acquisition, by way of adding experienced and highly talented individuals, is expected to complement and bolster the Corporation’s existing integrated risk management and compliance services.

The Agreement also provides for certain post-closing payments of up to $3,000,000, which shall be payable in cash or Common Shares, in the sole discretion of the Corporation, upon the Corporation achieving certain performance thresholds set out in the Agreement.

Vogogo CEO Geoff Gordon said of the announcement, “Risk management is such an important part of our business, by adding world class talent to the Vogogo team, this acquisition allows us to better provide effective risk management services to the US, EU and Canadian markets.”

Vogogo also announces that today it has filed its audited annual financial statements for the year ended December 31, 2014, and related management’s discussion and analysis. The financial statements, and management discussion and analysis may be obtained on Vogogo’s SEDAR profile.

The company will be holding an investor conference call on Friday, May 1st at 12 pm ET.

The live conference call will be available by calling 1.888.289.4573.

The participant pass code is 9683834.

About Vogogo

Vogogo is a TSX Venture Exchange (“TSXV”) publicly traded payment services company with integrated risk management and compliance. Founded in 2008, Vogogo designed, built and launched its web-based payment processing technology while growing its expertise in software development, payments, risk management, compliance and related financial services. Vogogo is now executing on its plan to serve global markets. The plan focuses on market opportunities where Vogogo believes it has a competitive advantage due to its positioning and technology.

For further company information please view the Vogogo Media Kit.

For information or interview please contact:

Geoff Gordon

Chief Executive Officer
403-648-9292

Tom Wenz

Chief Operating Officer
403-648-9292

Rodney Thompson

Chief Revenue Officer
403-648-9292

READER ADVISORY

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.

None of the information contained on, or connected to, Vogogo’s website is incorporated by reference herein.

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release may contain forward-looking information. 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.

SOURCE: Vogogo Inc. 

ReleaseID: 428389