MISSION VIEJO, Calif., July 7, 2015 (GLOBE NEWSWIRE) -- Global Future City Holding Inc. (OTCQB:FTCY) (the "Company") announced that the Company's Registration Statement on Form S-1, as amended (File No. 333-204005), was declared effective by the Securities and Exchange Commission ("SEC") at 4:01pm EDT on July 6, 2015. The Company plans to price the offering of the 10 million shares of its common stock at $3.50 per share and will be filing an updated prospectus with the SEC in the coming days to reflect the pricing information.
The offering of these securities may only be made by means of a prospectus. A registration statement relating to these securities has been declared effective by the SEC. The registration statement may be accessed through the SEC's website at www.sec.gov.
The Company will use the proceeds from the offering to concentrate on acquiring real estate projects using its recently purchased EB-5 Regional Center, the International EGD Loyalty Reward Program (EGD is a form of crypto-assets), working capital and other general corporate purposes the Company's Board of Directors deems to be in the best interests of the Company. EGD is a form of cryptoasset and reported trading activity can be reviewed at www.egdmarket.com. Because the use of crypto-assets like EGD have only been recently used in business operations, the Company has filed a Request for No-Action Letter ("No Action Letter") with the SEC to seek further guidance since the legal and accounting treatment for crypto-assets like EGD will continue to develop. An EB-5 Regional Center is an organization, designated and regulated by USCIS, which facilitates investments in job-creating economic development projects by pooling capital raised under the EB-5 immigrant investor program.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's securities, nor shall there be any sale of these securities in any state in which offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About Global Future City Holding Inc.
Global Future City Holding, Inc. is a holding company focused on implementing an EB-5 immigrant investor program for foreign investors who are interested in acquiring lawful permanent residence in the United States, and the marketing and deployment of an EGD loyalty-based retail program. The Company plans to focus its initial efforts on acquiring real estate projects that will fit the purchase of the recently acquired EB-5 Regional Center and the development of its loyalty program using its recently acquired EGD.
Additional information regarding EGD may be viewed at http://www.egoldcoin.com/index.html.
Information about Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company pursuing digital currency, which could have fluctuations in demand and pricing, the introduction and impact of new competitive products or digital currency, the Company's ability to maintain customer and strategic business relationships, growth in targeted markets, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting the Company, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Global Future City Holding, Inc. Michael R Dunn Executive Vice President of Finance Office: (949) 582-5933 Email: email@example.comSource:Global Future City Holding, Inc.