Business
Global Payout, Inc. (OTCPink: GOHE) Announces Multi-Million Dollar Financing Agreement at a 10x Valuation
Global Payout, Inc. (OTCPink: GOHE) Announces Multi-Million Dollar Financing Agreement at a 10x Valuation.
About this update from Psyc Corporation
[{"type":"text","content":"\n SAN DIEGO, Oct. 08, 2019 (GLOBE NEWSWIRE) -- Global Payout Inc. (OTCPink: GOHE) (“Global” or the “Company”) is pleased to announce that Global Payout has entered into a financing arrangement with a long-term private investor for ongoing financial support at a valuation of ten times the current share price. This investment group has already provided over $2,200,000 in investment capital to the company over the past two years and has committed to additional financing of more than $3,000,000 at a 10x valuation for a total investment of over $5,000,000. The Company anticipates using a large portion of these proceeds to retire a substantial percentage of the Company’s outstanding convertible debt, which will have tremendous value to the stock and its shareholders. “It gives me great pleasure to announce financing at such a high valuation,” said Global Payout, CEO Vanessa Luna. “As I have said many times, I believe strongly that this company is on a path to becoming the go-to Fintech solution for the cannabis market, but it feels great to have that affirmed by such a strong investment. It reaffirms to me, as CEO, that the growth initiatives and overall trajectory of the business are moving in the right direction; and should signal to shareholders that we mean serious business. We are aware that there is still a long way to go to get this company in a truly competitive position, which will involve a hard look at all aspects of both the public and privately held Company, MTrac Tech Corp., but this arrangement certainly offers us the ability to continue to make progress on all fronts as we strive to optimize shareholder value for the long term.” About Global Payout, Inc. (OTC Pink:GOHE) Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global’s current focus is continuing to identify new business o...