Vancouver, British Columbia--(Newsfile Corp. - November 9, 2018) - APPx Group Holdings Inc. (CSE: APPX) ("APPx" or the "Company") is pleased to announce that it has entered into a definitive share exchange agreement (the "Agreement") dated November 9, 2018 with the sole shareholder (the "Vendor") of Santos Torres Ltd. ("STL") and pursuant to the Agreement, APPx acquired all of the issued and outstanding common shares ("Shares") of STL (the "Transaction").
Summary of the Transaction
Pursuant to the Agreement, APPx acquired all of the Shares by issuing to the Vendor 5,000,000 common shares in the capital of APPx.
Santos, through its connections in Asia will provide APPx with access to new markets to sell its products and services.
About Santos Torres Ltd.
STL is a private company in the business of sales, marketing, and business development with a focus on Asia.
APPx is pleased to announce that it has retained two advisors. In connection with the advisors, each received 166,667 common shares of APPX for their past and continuing services to APPx.
About APPx Group Holdings, Inc.
APPx Group Holdings is a Fintech incubator that offers technology-based business solutions. Our growing partnership network allows us to service a wide range of markets: advertising, blockchain, crypto, FinTech, and telecommunications products and services.
With our strong reach, we're constantly adding to, and enhancing our portfolio. We strive to be industry leaders, creating innovations engineered from the ground up by our diverse culture of talent. APPx Group delivers sustained value by strategically solving our customers' immediate and long-term needs, helping them reach their goals on a global scale.
Additional information about APPx Group and its projects can be found on the company's website at www.appxgroup.com.
For further information please contact:
Rahim Mohamed, CEO
Jay Ruckenstein, President
All information in this news release concerning STL and the Vendor has been provided for inclusion herein by STL and the Vendor. Although the Company has no knowledge that would indicate that any information contained herein concerning STL and the Vendor is untrue or incomplete, the Company assumes no responsibility for the accuracy or completeness of any such information.
Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospects and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the common shares of the Company.
Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, changes in laws, negative sentiment towards the industry in which the Company operates, increase in operating costs, the loss of key directors, employees, advisors or consultants, technology failures, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.