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.
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:
Chief Executive Officer
Chief Operating Officer
Chief Revenue Officer
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.