VANCOUVER, British Columbia, Oct. 30, 2014 (GLOBE NEWSWIRE) -- Fundamental Applications Corp. ("Fundamental") (CSE:FUN) Fundamental has submitted "Serum" the application to the iTunes store pending final stage of approval. Serum is officially out of Beta and prepping for its live launch. Fundamental will launch Serum's PR & marketing campaign officially upon Apple's approval.

Julian Ing, developer and co-founder states, "Our goal is to design, develop and launch a quality application that resonates with Millennials and Generation X in a big way, and I'm proud to say that we've done just that."

Justin Rasekh, Fundamental's CEO, commented on the company's progress. "We could not be happier with the development of Serum, our anonymous chat app. We look forward to additional functionality as we help shape this niche market in social chat apps."

In addition, they also completed the first tranche of a previously announced non-brokered private placement for aggregate gross proceeds of $50,000 (the "Offering"). Pursuant to this first tranche, 125,000 units will be issued, with each unit comprised of one common share and one common share purchase warrant exercisable at $0.40 per share for 12 months. Fundamental is continuing to raise funds for the balance of the private placement. All securities issued under the private placement are subject to a four-month hold period.

A finder's fee will be paid for 7% cash and share purchase warrants to buy common shares at $0.40 per share for 12 months equal to 7% of the number of shares issued under the Offering.

About Fundamental

Fundamental Applications Corp. was founded in 2014 to launch innovative mobile applications targeted at millennials. Millennials are described as a demographic born between 1980 and 2000 into a digital world with significant discretionary income. Fundamental intends to launch their first application, Serum^TM, in the fall of 2014. Serum^TM is an innovative and unique mobile chat application which enables users to post questions and have text conversations with a group of their friends anonymously; nobody involved in the conversation is aware of who in the group is responding. Serum^TM also provides control to the users over conversations they initiate, such as adding or removing participants. Serum^TM goes beyond existing applications such as Whisper and Secret, which only allow for one-way conversations, by creating an interactive way of sharing. Serum^TM also goes above and beyond in terms of implementing protocols for anti-bullying. Fundamental intends to launch additional apps targeting privacy, anonymity and chat once it has built a large Serum^TM user base.

Further information about the Fundamental is available under its profile on the SEDAR website www.sedar.com and on the CSE website www.thecse.com.

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Fundamental. Forward-looking information is based on certain key expectations and assumptions made by the management of Fundamental. Although Fundamental believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Fundamental can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Fundamental disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

CONTACT: For further information on Fundamental, please contact:
         
         Justin Rasekh
         President & Chief Executive Officer
         Telephone 778.998.4235
         Email: justin@funappcorp.com