March 9, 2018

GAR Limited. (“GAR” or the “Company”) (CSE: GL) is pleased to announce that further to its press release of March 9, 2018, it has now received final approval from the Canadian Securities Exchange (the “CSE”) and the Company’s common shares will resume trading on the CSE on March 14, 2018 under the symbol “NETC”.  The Company intends to obtain shareholder approval to change its name to “Netcoins Holdings Corp.” at its next annual general meeting, and until such time, intends to register in Ontario to do business as “Netcoins”.

New Directors and Officers

In connection with the closing of the acquisition, the Company announces that its previous directors and officers have resigned.  The Company announces that the board of directors now consists of Mark Binns, Michael Vogel, Gary Boddington and Desmond Balakrishnan.  Management now consists of Mark Binns (CEO), Kevin Ma (CFO and Corporate Secretary) and Michael Vogel (VP, Technology). 

The following are brief descriptions of the new directors and officers of the Resulting Issuer:

Mark Binns – President, CEO, and Director:

Mr. Binns has over 20 years of experience building customer-driven sales and marketing strategies. Mr. Binns has founded, built, and sold two consulting companies that provided strategic advice on customer acquisition and revenue growth to Fortune 1000 technology companies including RIM, Cisco and Rogers. Mr. Binns has also scaled two SAAS based software businesses in the B2C and B2B spaces into leaders in their respective markets.  Mr. Binns is an Honors graduate of the Ivey MBA program and Graduate of the Computer Science Honors program at Acadia University. Mr. Binns has led his companies to PROFIT HOT 50 and PROFIT HOT 100 awards, and was nominated by the Dean of the Richard Ivey School of Business for the prestigious business award of Canada’s “Top 40 Under 40”.

Michael Vogel – VP, Technology and Director

Mr. Vogel is the co-founder and creator of Netcoins, a disruptive “Virtual Bitcoin ATM” software application, which is currently installed in locations throughout Canada as well as International markets.  Prior to creating Netcoins, Mr. Vogel worked as an Electronics Engineering Manager at Rotomaster and Electronics Engineer at NYCE Networks.  Mr. Vogel holds a Bachelor of Applied Sciences in Engineering, Electronics Engineering (Systems) Degree from Simon Fraser University.

Gary Boddington – Director

Mr. Boddington is currently the Founder and President of Silver Lining Ventures and has co-founded and successfully exited many technology start-ups.  As a creative and entrepreneurial CEO, Mr. Boddington has built teams that have grown direct and indirect license revenue channels on a global basis. Mr. Boddington is an accomplished business executive that has cultivated key stakeholder relationships, worked with boards of directors, shareholders and founders.  Mr. Boddington has strategic & operational fluency in organic SaaS and M&A growth environments and is committed to excellence, the highest ethical standards, and a constant pursuit of personal self-development and improvement.  Mr. Boddington was formerly Chief Commercialization Officer of BTL Group and former Executive in Residence for BCTIA.  Mr. Boddington holds a Diploma in Business Management from the University of Durban Westville and Bachelor of Social Science, Industrial Psychology Degree from the University of KwaZulu-Natal

Desmond Balakrisnan – Director

Mr. Balakrishnan is a Vancouver lawyer and has practiced law as a partner at McMillan LLP since February 2002.  Mr. Balakrishnan is now, or has been in the last five years, a director or officer of 15 public companies or reporting issuers.  Mr. Balakrishnan received his Law Degree from the University of Alberta in June 1997 and was called to the British Columbia Bar in May 1997.  He received his Bachelor of Arts from Simon Fraser University in June 1994.

Kevin Ma – Chief Financial Officer and Corporate Secretary

Mr. Ma, is a principal and the founder of Skanderbeg Financial Advisory Inc., specializing in corporate finance, mergers & acquisitions, and senior executive and management advisory.  Selected clients include First Cobalt Corp. (FCC:TSX-V), Chakana Copper Corp (PERU: TSX-V), Kenadyr Mining (Holdings) Corp. (KEN:TSX-V).  Mr. Ma is currently acting CFO for First Cobalt Corp. where the company recently completed a 3-way merger valued at over $150 million, creating the signal largest cobalt exploration company by market capitalization.  Mr. Ma has been involved win over $200 million in corporate finance transactions.  Mr. Ma was the Director of Finance for Alexco Resource Corp. at the time it developed and subsequently operated a silver mine in the Yukon, Canada.  From 2005 to 2008 Mr. Ma was the Audit Manager for Deloitte & Touche, LLP.  Mr. Ma is a Chartered Accountant certified by the Chartered Professional Accountants of British Columbia, and holds a Diploma in Accounting and a Bachelor of Arts degree from the University of British Columbia.

Stock Options

In connection with the CSE listing, the Company also announces that 9,770,000 incentive stock options were granted to eligible directors, officers, employees and consultant of the Company in accordance with the Company’s stock option plan (the Option Plan”).  The options have an exercise price of $0.35 per share and are exercisable for a period of five years unless terminated pursuant to the terms of the Option Plan.  7,770,000 options vest 25% immediately and 25% every six months thereafter for 18 months and 2,000,000 options vest 50% immediately and 50% after 12 months.

About the Company

The Company is in the business of developing software to better facilitate the purchase and sale of bitcoin for end-users. Netcoins enables the sale of bitcoin through its software at retail outlets, through individual agents and directly to clients purchasing in large quantities.



“Mark Binns”
Mark Binns
CEO and Director


For Investor Relations Inquiries please contact Netcoins at 778.785.1175‬ or email [email protected]


The CSE does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information
This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.