00:08:55 EDT Sat 27 Apr 2024
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NetCents Technology Inc
Symbol NC
Shares Issued 32,928,817
Close 2017-09-19 C$ 0.50
Market Cap C$ 16,464,409
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NetCents Technology to prelaunch cryptocurrency today

2017-09-19 10:31 ET - News Release

Mr. Clayton Moore reports

NETCENTS COMMENCES PRE-LAUNCH OF CURRENCY

The prelaunch of NetCents Technology Inc.'s digital currency (see news release dated Sept. 13, 2017) will commence at 3 p.m. PT, today, Sept. 19, 2017.

NetCents shareholders of record as of Sept. 22, 2017, will be awarded the opportunity to participate in the NetCents Currency prelaunch sale at a 25-per-cent discount to the $1 prelaunch price. Shareholders of record will be receiving annual general meeting circulars in the coming weeks. Within the AGM package a keycode will be inserted that will allow that shareholder to apply their exclusive discount at the time of purchase within the NetCents platform.

Details pertaining to the NetCents Currency:

  • Prelaunch pricing: $1.
  • Initial issuance: Twenty million will be distributed (* then follow the schedule below).
  • Valuation: The number of coins in the initial release is directly correlated to the dollar value of transactions in the NetCents merchant ecosystem. Subsequent releases will be designed to support price levels and observe initial purchaser value(s). Management feels these attributes will significantly boost the coin's credibility and acceptance in the marketplace, making it a mainstream coin.

                   LAUNCH SCHEDULE AND TRIGGER EVENTS
   
Coins in circulation   Trigger price           Increase   Postcoin value

20,000,000 coins               $1.50    2,916,667 coins            $1.31
22,916,666 coins               $2.25    2,916,667 coins            $2.02
28,750,000 coins               $3.38    2,916,667 coins            $3.06
31,666,667 coins               $5.06    2,916,667 coins            $4.64
   

* Further details will be provided in the NetCents Currency whitepaper, to be release on Oct. 2, 2017. In the example, 20 million coins are released, a further release will not occur until a minimum price of $1.50 is realized. Upon the $1.50 threshold being reached a further 2.9 million coins will be released. Coin value after 2.9 million coins being released will be $1.31. The above prices are estimates and actual values may vary depending on market conditions.

The company believes that digital currency is more than an asset for financial speculation. The purpose of this initial currency offering is for NetCents to become a leader in digital payments.

The distribution of the NetCents Currency follows a participation model that will take place over the following six weeks, creating one of the fairest currencies launched. One of the differentiating aspects of the NetCents coin will be the reserve requirements. NetCents envisions a robust reserve requirement, currently estimated at a 50-per-cent level to provide downward price protection on the currency. Management feels these attributes will significantly boost the coin's credibility and acceptance in the marketplace, making it a mainstream currency.

Starting today, Sept. 19, 2017, at 3 p.m. PT, NetCents Currency will be available to NetCents registered users through its proprietary cryptocurrency exchange. The company highly recommends all interested parties sign up to the NetCents Currency page for the latest information regarding the currency and its launch.

The company has received significant interest regarding the upcoming currency release and a corresponding large number of requests for more information ahead of the release of the company's whitepaper which will be Oct. 2, 2017.

"To say the response so far has been positive would be a bit of an understatement," commented Clayton Moore, chief executive officer of NetCents. "We want users to feel more secure in investing, spending and accepting the NetCents Currency. We are developing a currency for mass adoption, widely held and widely circulated. Our goal is to arm users and businesses with a currency as a means to eliminate pain points and high fees that are prevalent in traditional payment processing systems."

Note, for those shareholders who wish to participate maximum limits may be placed on currency purchases. To help ensure shareholders of record who wish to participate in the currency at the discounted rate, the company requests that you contact the company with your potential allotment.

About NetCents Technology Inc.

NetCents is a next-generation on-line payment processing platform, offering consumers and merchants on-line services for managing electronic payments.

We seek Safe Harbor.

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