SmartCard Marketing Systems Inc. (PINKSHEETS: SMKG) Corporate Update With Regards to Share Buyback Plan
28 August 2008 - 7:35PM
Marketwired
As stated by SmartCard Marketing Systems Inc.(PINKSHEETS: SMKG)
"Management is pleased to announce that management has entered into
discussion with 2 Private Equity Firms in the US with the intent of
purchasing back upto 10mm to 15mm shares on the open market
(equivalent to a min of 5% of authorized shares or 11% of free
trading float). We believe strongly that this is a value
proposition and commitment from Management to demonstrate the
existing and potential growth of (PINKSHEETS: SMKG) business. We
have not finalized an agreement but feel that the interest from
Private Equity groups is favorable and allows management to be
transparent in its decisions.
It is our intent to build investor value and bring larger
investment institutions to (PINKSHEETS: SMKG) as focus on the Money
remittance segment, Prepaid Cards and Pin Debit is gaining strong
momentum with existing merchants vamping up and new merchants
beginning to startup making Velocitymoney.com a leader in online
and off-net payment services.
We seek safe harbor.
www.gosmartcard.com
www.velocitymoney.com
www.velocitymerchant.com
Contacts: SmartCard Marketing Systems Inc. Max Barone CEO
1-866-774-2555 maxbarone@gosmartcard.com
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