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Globalive Technology Acquires Call Option to Purchase Globalive Capital Control Position in Flexiti Financial
Globalive Technology Acquires Call Option to Purchase Globalive Capital Control Position i...
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[{"type":"text","content":"\n\n\n\n\nGlobalive Technology Acquires Call Option to Purchase Globalive Capital Control Position in Flexiti Financial\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 21, 2018\n\n\n\n\nFlexiti Financial is a leading fintech private label credit card issuer that has grown its consumer credit to over $300 million in less than three years with a compound monthly growth rate of 30%\nFlexiti Financial's monthly revenue has crossed over $3 million, with new loan originations passing $20 million per month\nGlobalive Technology's proprietary commercialization process for AI and blockchain will optimize security and financial performance of portfolio\nGlobalive Technology will license the AI and blockchain software solution to financial services firms globally\n\n\n\nTORONTO, June 21, 2018 /CNW/ - Globalive Technology (TSX-V: LIVE), an artificial intelligence and blockchain technology commercialization firm, has acquired a call right from and amended a put right previously granted to Globalive Capital (\"GC\") over its control position in Flexiti Financial (\"Flexiti\"), a leading fintech company and private label credit card issuer in Canada. Globalive Technology's independent directors Kingsley Ward, Managing Partner of VRG Capital and Jason Theofilos, Co-Founder of Mundo led the transaction on behalf of Globalive Technology.\n\nGlobalive Technology has previously announced a technology joint venture agreement with Flexiti. Under this agreement Globalive Technology expects to leverage Flexiti's $300 million loan portfolio, 1.1 million customers and related historical loan data to build AI and blockchain platforms to optimize consumer financing at the point-of-sale. \n\n\"Securing this option to acquire a control position in Flexiti is an important step forward for the development of our AI and blockchain platforms,\" said Anthony Lacavera, Globalive Technology's Founder and CEO. \"Flexiti is a leading fintech company and an incredible growth story, having grown from zero to $300 million in originations on their private label credit card pl...