Netcoins Shareholders Voluntarily Lock-Up Over 24 Million Shares
March 28, 2018
VANCOUVER, British Columbia, March 28, 2018 (GLOBE NEWSWIRE) — GAR Limited d/b/a Netcoins (“Netcoins” or the “Company“) (CSE:NETC) is pleased to announce that the Company has entered into Voluntary Common Share Pooling Agreements (the “Agreements”) with various shareholders of the Company to restrict the resale of over 24 million shares (collectively the “Lock-Up Securities”), representing approximately 21% of the Company’s total issued and outstanding shares.
The Lock-Up Securities will be released under the terms of the Agreement as follows:
- 33 1/3% of the Common shares on the date which is six months from after the effective date of the Agreement;
- 33 1/3% of the Common shares on the date which is nine months from after the effective date of the Agreement; and
- 33 1/3% of the Common shares on the date which is twelve months from after the effective date of the Agreement.
Mark Binns, President & CEO states, “The significant voluntary share lock-up demonstrates a tremendous amount of support and belief in the Company by our key shareholder group. Given the current volatility being experienced in the cryptocurrency space, the lock-up will allow Netcoins to build our shareholder base as a newly listed public company and time to execute on our business and growth plans.”
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.
ON BEHALF OF THE BOARD OF DIRECTORS
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.