The successful acquisition of BankCard is expected to be transformational for Quisitive’s Payment Solutions business. With annual transaction volumes of
BankCard also delivers valuable payments IP to the
BankCard will integrate its team of 40+ members, including a strong insides sales team and customer services and risk management experts, to the Quisitive Payments Solution business. As
“Our team is proud to be joining
In connection with closing of the Transaction, the escrow release conditions in respect of an aggregate of 41,743,333 subscription receipts (the "Subscription Receipts") of the Company issued on April 8, 2021 at a price of
About BankCard
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Cautionary Note Regarding Forward Looking Information
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning anticipated synergies, growth prospectus, projected milestones and timelines, the full commercialization of the Company’s LedgerPay platform, and the other anticipated benefits and impacts of the Transaction.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this news release, the Company has made certain assumptions. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the Company’s consolidation strategy, commercialization of intellectual property, growth plans; potential revenue and cost saving synergies following the completion of the Transaction assumes the ability to modify agreements and migrate merchants from third party payment processing services as well as third party gateway providers to LedgerPay, the limited history of operations of the Company's LedgerPay business and future business strategy; reduction of redundant staff, consolidation of duplicate vendors and service providers including but not limited to benefits, payroll services, marketing services, legal, accounting and others, the demand for the Company's services; future demand and trends in Microsoft Cloud services; the Company’s ability to scale revenue; the Company's ability to access financing on favorable terms from time to time; the Company's ability to protect its intellectual property rights and that the Company will not infringe upon the intellectual property rights of others; the Company's ability to attract and retain clients; the continuation of executive and operating management or the non-disruptive replacement of them on competitive terms; stable market and general economic conditions; revenue and gross margin metrics; risks inherent in the technology sector; intellectual property risks; risks related to litigation; dependence upon senior management; and other risks disclosed in the Company’s public filings including the shelf prospectus of the Company dated
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this news release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
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