MIAMI, Sept. 18, 2014 /PRNewswire/ -- Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States, today announced the official completion of its debt exchange transaction with Crede CG III, Ltd. ("Crede"), a wholly owned subsidiary of Crede Capital Group, LLC.

The pricing period for the notes purchased was terminated as of September 17, 2014, concluding the Company's share issuance obligations to Crede.  As a result, no additional shares in the Company will be issued to Crede as part of this transaction. Pricing was based on the volume weighted average price from the date of the exchange agreement to the termination of the pricing period. The debt exchange eliminated $15,876,860 of Net Element's indebtedness, which will be reflected in the Company's upcoming financial results for the quarter ending September 30, 2014.

"We're pleased to have successfully completed this transaction, which marks an important milestone in Net Element's history. The agreement not only extinguishes most of the company's debt obligations, but also adds strength to its balance sheet. With this increase in financial flexibility we will continue to focus on building company and shareholder value via strategic opportunities and partnerships in the mobile payments industry," said Oleg Firer, CEO of Net Element.

About Crede Capital

Crede Capital Group, LLC ("Crede") is the personal investment vehicle of Terren Peizer with offices in Los Angeles, New York, Beijing and Singapore. Crede has completed more than 100 investments in eleven countries on four continents, providing both growth capital as well as business support to emerging growth companies. More information is available at www.credecg.com.

About Net Element (NASDAQ: NETE)   

Net Element (NASDAQ: NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services. The Company owns and operates a global mobile payments and transaction processing provider, TOT Group. TOT Group companies include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Private Company in America in 2012; Aptito, a next generation cloud-based point of sale payments platform; and TOT Money, which has a leading position in Russia and has been ranked as the #1 SMS content provider by Russia's second largest telecommunications operator. Together with its subsidiaries, Net Element enables ecommerce and adds value to mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the Company for continued growth. Net Element has U.S. headquarters in Miami and headquarters in Moscow. More information is available at www.netelement.com.

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. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, whether Net Element or its business continues to grow, whether the referenced debt exchange transaction will positively impact the Company and whether the referenced transaction and any additional financing secured by Net Element will be adequate to meet the Company's objectives.  All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) Net Element 's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element 's ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element 's ability to successfully expand in existing markets and enter new markets; (iv) Net Element 's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element 's business; (viii) changes in government licensing and regulation that may adversely affect Net Element 's business; (ix) the risk that changes in consumer behavior could adversely affect Net Element 's business; (x) Net Element 's ability to protect its intellectual property; (xi) local, industry and general business and economic conditions; (xii) adverse effects of potentially deteriorating U.S.-Russia relations, including, without limitation, over a conflict related to Ukraine, including a risk of U.S. government sanctions or other legal restrictions on U.S. businesses doing business in Russia. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K and the subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element with the Securities and Exchange Commission. Net Element anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

SOURCE Net Element, Inc.