Vancouver, British Columbia--(Newsfile Corp. - April 30, 2020) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company"), a disruptive cryptocurrency payments technologies company, is pleased to announce the addition of Wang Qin to its Advisory Board.
Mr. Wang has 30-years of venture capital and private equity investment, executive management, and consulting experience in the broader information and technology industry as well as resource, energy, and cleantech industries, in China, Canada, and Japan.
"This addition to our team rounds out the footprint of the Advisory Board providing NetCents global reach and exposure," stated Clayton Moore, Founder and CEO NetCents Technology. "The first task for our Advisory Board is to develop clients for our white-label banking suite. With the team we have put together, we have entry to many financial institutions around the world. NewMargin has one of the top track records in venture capital globally, and we are lucky to be associated with such a forward-thinking team. We are proud to communicate that NewMargin Capital Management is a now also a shareholder of NetCents."
NetCents has targeted opportunities in Asia due to the deeper penetration of cryptocurrency within the Asian financial infrastructure than is found in North America or Europe. For NetCents to monetize its technologies fully, it needs significant representation in the Asian market. Now, with the addition of Mr. Wang to the Advisory Board, the Company has this representation. Qin's experience and reputation will be able to represent NetCents on any level.
"Before I agreed to join, I analyzed what NetCents offers market participants in Asia, and I concluded they have a distinct advantage in their user interface and experience," added Mr. Wang. "I'm looking forward to assisting NetCents to gain market share by making appropriate introductions for the Company by leveraging my experience at NewMargin and Ceyuan."
Mr. Wang has been a Managing Partner of NewMargin Ventures and Ceyuan Ventures, prominent private equity funds management companies in China, for over ten years. Prior, Mr. Wang was involved in managing US dollar-based investment funds, including a 100 million USD VC funds and a 300 million USD growth funds investing in Chinese internet and technology companies, such as PPStream (acquired by IQIYI), Kugou (acquired by Tencent Music), Xunlei, UCWeb (acquired by Alibaba), as well as gold mining companies including Pretium Resources.
In recent years, Mr. Wang has focused on managing RMB based Chinese funds, including a 3 billion RMB resource funds investing in mining and energy companies in China, and a 600 million RMB new energy and cleantech funds investing in lithium battery-related resource and material companies in China. He currently serves on the Board of Directors for several of the funds' portfolio companies.
Before joining NewMargin Ventures and Ceyuan Ventures, Mr. Wang was a principal of LG Investment Ventures. In 2000, he founded and managed an IT consulting firm and mandarin language school in Shanghai. He spent the next ten years working for CGI Group in Canada and Nippon Life Insurance Company in Japan. Through this experience, Mr. Wang accumulated practical knowledge of business analysis, corporate finance, and management implementation, as well as a strong business network.
The Company would like to announce that it has issued 4,964,497 units for gross proceeds of $1,390,059. Each unit comprises one common share of the company and one share purchase warrant, priced at $0.70, with a two-year term. The Company paid commissions of $9,310 and issued 2,000 Agent Warrants with the same terms as the warrants in the private placement.
NetCents is building a financial ecosystem which provides:
- Exchange services for cryptocurrencies
- Touchless consumer payments and merchant processing using cryptocurrency with software embedded in 5.6% of worldwide terminals
- Credit card products that are cryptocurrency enabled
- Fixed income products for individual investors
- Invoicing and payment for SaaS and PaaS (software as a service and platform as a service) companies
- White-label commercial banking solutions as a service for traditional banks
Management will continue to provide updates regarding new developments as they occur.
To learn more about NewMargin:
NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.
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On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 - 1021 West Hastings Street
Vancouver, BC, V6E 0C3
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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