Vancouver, BC / TheNewswire / May 15, 2018 - Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) ("Upco") is pleased to announce that it intends to complete a non-brokered private placement of up to 12,500,000 shares ("Shares") at a price of $0.20 per share, for gross proceeds of approximately $2,500,000 (the "Offering"). Closing of the Offering is expected to occur on or before June 25, 2018.
Upco intends to use the net proceeds from the Offering for general corporate and working capital purposes. The securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco E-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
This press release contains forward-looking information or forward-looking statements (collectively "forward- looking information") within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: "will" "may" "believe", "expect", "anticipate", "intend", "estimate", "development", "forthcoming", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements.