Mr. Clayton Moore reports
NETCENTS TECHNOLOGY ENTERS INTO CONSULTING AGREEMENTS
NetCents Technology Inc. has entered into consulting agreements with Market IQ Media Group Inc. and Axe Communications Inc. for media consulting, digital media campaign and multimedia services.
Each consulting agreement has a 12-month term, which commenced on Nov. 1, 2018. Pursuant to the consulting agreements, the company will pay monthly fees to: (i) Market of $35,000 in cash plus applicable taxes or 25,000 common shares of the company at a deemed price of $1.40 per common share; and (ii) Axe of $15,000 in cash plus applicable taxes or 10,714 common shares at a deemed price of $1.40 per common share.
Market and Axe do not currently hold any common shares and do not have any other direct or indirect interests in the company.
The consulting agreements and payment of the monthly fees in common shares are subject to the approval of the Canadian Securities Exchange. All securities issued pursuant to the consulting agreements are subject to a statutory hold period of four months and one day following the issuance in accordance with applicable securities legislation.
The company has elected to pay Market's fees and Axe's fees in common shares for the month of November by issuing 25,000 common shares to Market and 10,714 common shares to Axe.
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. The company is focused on capturing the migration from cash to digital currency by utilizing innovative blockchain technology to provide payment solutions that are simple to use, secure and worry-free. NetCents works with its financial partners, mobile operators and exchanges, to streamline the user experience of transacting on-line.
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