SAN FRANCISCO, April 25, 2016 (GLOBE NEWSWIRE) -- APT Systems, Inc. (OTC:APTY), a publicly traded, fully reporting company in the FinTech software sector, is pleased to announce that it has signed an investment agreement with Tangiers Global, LLC for a $5 Million fixed funding commitment. Tangiers Global has also agreed to provide unsecured bridge funding for a total amount of $46,000 for the operating costs associated with the Company’s filings, prospective software acquisitions, and ultimately, the completion and launch of its trading applications.
“We are pleased to have secured this fixed funding commitment and bridge capital with Tangiers Global. We believe that success is achieved when timing and opportunity meet, and this being a truly timely opportunity, made possible through partnership. We look forward to working closely with them as we continue to develop the Company and successfully execute our business plan,” stated Carl Hussey, CFO.
APT Systems has secured this funding commitment to enable the efficient execution of plans that can contribute substantially to the outlook and future revenues of the Company.
Mr. Hussey concluded: “Management is resolute on establishing a solid position in this industry, as opportunities continue to evolve. We intend to capitalize on the momentum we have strived to build. Having this funding in place to move forward considerably strengthens our position, as we propose to open a testing office in Nevada.”
APT Systems finalized an investment agreement for funding of up to $5 Million with Tangiers Global, LLC on April 18, 2016. This provides the Company the right, but no obligation, to draw down on the funding commitment by selling shares of the Company’s common stock to Tangiers Global for an agreed purchase price. Tangiers’ obligation to purchase shares of the Company under the Securities Purchase Agreement is subject to certain conditions, including the Company obtaining an effective registration statement with the SEC to allow for the shares of the Company’s common stock to be sold.
In a related matter, the Company is also pleased to confirm its legal firm, Szaferman Lakind Blumstein & Blader, will act as its principal advisor in the preparation and submission of the Company’s S-1 registration statement to the US Securities and Exchange Commission.
APT Systems, Inc. intends to keep its stakeholders informed through releases to promote and strengthen investor confidence. Updates will be forthcoming as events continue unfolding.
About Tangiers Global, LLC
Originally founded in 2006, the Tangiers family of funds provides working and expansion capital to small and microcap public companies through a variety of investment structures, including the new multi-million dollar Fixed Funding Commitment™. Tangiers prides itself on building long term relationships with client companies to ensure that they have the resources necessary to propel their growth year after year.
About Szaferman Lakind Blumstein & Blader, P.C.
Szaferman Lakind is a full service law firm which has been awarded Martindale-Hubbell’s™ highest rating of AV-Preeminent, and ranked a Tier-1 Law Firm by U.S. News & World Report in its 2014, 2015 and 2016 Best Law Firms editions. The firm is proud to have been recognized by New York Magazine as one of the New York Area’s Top Ranked Law Firms.
About APT Systems, Inc.
APT is an acronym for Applied Proprietary Trading. The Management of APT Systems, Inc. works to deliver stock trading tools with a focus on handheld devices while also strategically acquiring other compatible financial businesses which demonstrate strong growth potential.
Disclaimer - Forward Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company. APTY may opt to disseminate information about itself, including the results of its operations and financial information, via social media platforms such as Facebook, LinkedIn and Twitter.
Source:APT Systems Inc.