#Technology Stock News: Upco International Inc. (CSE: $UPCO.C) (OTC: $UCCPF) (FSE: U06) Announces Closing of Final Tranche of Financing
Vancouver, British Columbia - August 31, 2018 (Investorideas.com Newswire) Upco International Inc. (CSE: UPCO) (Frankfurt: U06) ("UPCO") is pleased to announce it has closed the final tranche of the previously announced financing to raise up to $2.5 million at $0.20 per share and issue up to 12,500,000 shares of the Company. Pursuant to the final tranche, Upco has issued 2,640,840 shares at $0.20 per share for gross proceeds of $528,168. The Proceeds will be used for general working capital. All the shares issued will have a 4 month hold.
Coserfi SRL is a control person of Upco and they invested $528,168 for 2,640,840 shares. The private placement constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Upco is relying on the exemptions contained in sections 5.5(a) and section 5.7(1)(a) as the fair market value of the participation in the private placement by the control person does not exceed 25 per cent of the market capitalization of Upco, as determined in accordance with MI 61-101. Upco's board of directors and specifically the independent members of the board carefully reviewed and approved the private placement subscriptions by the control person.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco E-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
This press release contains forward-looking information or forward-looking statements (collectively "forward- looking information") within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: "will" "may" "believe", "expect", "anticipate", "intend", "estimate", "development", "forthcoming", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.
Upco International Inc. (CSE: UPCO)
is a featured company on Investorideas.com
Visit Profile page: http://www.investorideas.com/CO/UPCO/Get News Alerts on Upco International Inc.
Investorideas.com features content for Bitcoin, Blockchain and Digital Currency Stocks and ICO's at Cryptocurrencyinvestorideas.com, Blockchaininvestorideas.com and Investorideas.com
View our growing Bitcoin, Blockchain and Digital Currency Stocks Directory
Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073
Check out our crypto blog on blogger.com
Recently added - Bitcoinandblockchainstocks.com at http://www.bitcoinandblockchainstocks.com/
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: UPCO is a paid PR, news and social media client on Investorideas.com
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.