Upco International Inc. Announces Closing of Second Tranche of Financing
Vancouver, British Columbia--(Newsfile Corp. - June 29, 2018) - Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) ("Upco") is pleased to announce it has closed the second tranche of the previously announced financing to raise up to $2.5 million at $0.20 per share and issue up to 12,500,000 shares of the Company. Pursuant to the second tranche, Upco has issued 2,040,000 shares at $0.20 per share for gross proceeds of $408,000. The Proceeds will be used for general working capital. All the shares issued will have a 4 month hold. Upco paid a finders fee of $28,560 in cash and issued 142,800 finders warrants exercisable at $0.25 for a period of 2 years to Pinpoint Participations UG.
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.
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.