TechX Completes Acquisition of Mobilum, Leading Cryptocurrency Payment Technology Gateway

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VANCOUVER, BC, July 15, 2021 / PRNewswire / – TechX Technologies inc. (“TechX” or the “Company”) (CSE: TECX) (OTC: TECXF) (FRA: C0B1), a technology-driven company that makes traditional finance accessible through compliant digital payment infrastructure and payment technologies. digital asset management, is pleased to announce that, following the Company’s press release dated May 26, 2021, TechX has completed the acquisition of Mobilum OÜ (“Mobilum”).

TechX also announced that the Board of Directors has approved a company name change from “TechX Technologies Inc.” at “Mobilum Technologies Inc.“and the ticker symbol in which it trades on the Canadian Securities Exchange (” CSE “) at”MBLMThe Company will issue another press release announcing the effective date on which the Company will begin trading under the new name, symbol and number CUSIP. The name change remains subject to the approval of the CSE.

Mobilum, a financial technology start-up that provides fiat infrastructure to the cryptocurrency industry, is a plug-and-play licensed fiat-to-crypto gateway and payment processing technology solution for exchanges, wallets, brokers, liquidity providers, and cryptocurrency firms. . Mobilum’s easy-to-use entry and exit ramp solution makes integration easy for businesses whose users buy and sell cryptocurrency with credit and debit cards. Mobilum guarantees zero chargebacks, the highest acceptance rates and lowest transaction fees in the industry (at 2.99%).

“We couldn’t be happier to acquire Mobilum’s e-wallet and quick access and exit technology,” said the CEO of TechX. Green Stone. “With the injection of funds from our last funding round, we plan to move quickly from $ 150,000 in the daily processing volumes we are currently achieving by expanding the Ramp offering to other cryptocurrency exchanges and businesses. We are also excited to launch the gift card and charge card and digital wallet release solution towards the end of the third quarter. It is becoming clear that decentralized finance is increasingly accepted globally and we are excited to be a part of this multi-billion dollar game-changing industry. “

The transaction

TechX acquired a 100% interest in Mobilum in consideration for 26,666,667 ordinary shares in the capital of the Company (the “Shares”) at an assumed value of $ 0.60 per Share for a total total consideration of CA $ 16,000,000. The Shares are subject to a holding period of four months and one day from their issue.

About TechX Technologies Inc.

TechX Technologies inc. (CSE: TECX) (OTC: TECXF) (FRA: C0B1) a technology-driven company making traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies.

About Mobilum

Mobilum, a fintech start-up providing fiduciary infrastructure to the cryptocurrency industry and has a licensed fiat-to-crypto gateway and payment processing technology solution for exchanges, wallets , brokers, liquidity providers, and cryptocurrency firms. Mobilum’s easy-to-use entry and exit ramp solution facilitates integration for businesses to enable users to buy and sell cryptocurrency with credit and debit cards. The Mobilum digital wallet will offer its customers competitive prices on over 237 cryptocurrencies and allow its users to earn high interest and returns with DeFi.

This press release may contain certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if they are used in this press release, the words “anticipate”, “believe”, “estimate”, “expect”, “target,“ plan ”,“ anticipate ”,“ may ”,“ establish a timeline ”and similar words or phrases identify forward-looking statements or information. These statements represent the Company’s current views with respect to future events and are necessarily based on a number of assumptions and estimates which, although considered reasonable by the Company, are inherently subject to trade terms. , economic, competitive important. , political and social risks, contingencies and uncertainties. Many factors, known and unknown, could cause results, performances or achievements to be materially different from the results, performances or achievements which are or can be expressed or implied by these forward-looking statements. intends, and assumes no obligation, to update such forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other matter affecting such statements and information other than those required by laws, rules and regulations applicable.

Related links

https://tech-x.io/

SOURCE TechX Technologies Inc.



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