APPx Group Holdings, Inc. Announces Effective Date for Consolidation and Name Change to SoftLab9 Software Solutions Inc.
Montreal, Quebec--(Newsfile Corp. - March 6, 2019) - APPx Group Holdings, Inc. (CSE: APPX) (FSE: APO) (the "Company"), a Fintech incubator and software development company, announces that in conjunction with the previously announced 1.5 to 1 share consolidation it has changed its name to SoftLab9 Software Solutions Inc. ("SoftLab9") to better reflect its new strategic direction and business model. The Company will begin trading in the Canadian Securities Exchange under the new ticker symbol "SOFT" effective at the opening of trading hours on March 6, 2019. The new CUSIP and ISIN are: 83405W106 and CA83405W1068, respectively.
The strategic direction reflected in the name SoftLab9 is a move away from crypto and blockchain toward the Fintech and software development segments of the business. SoftLab9 is currently beta testing two proprietary, revenue-generating products which will be launching over the next few months.
Solving the biggest problems in retail today, and which has been in development from the start, is the geolocation-based, rewards app CatchCoin™. This data-aggregating, advertising platform was developed as an answer to the issue of declining foot traffic at retail establishments. CatchCoin enables participating businesses, event providers, and brands to attract customers by offering real cash rewards for visiting their locations with further incentives possible for purchases made. The data collected makes it possible for advertisers to target the customers they want at the times they want, by creating highly customizable campaigns.
SofLab9's second area of focus also leverages our data aggregating technologies and experience to address the growing global demand for regulatory technology, or RegTech. An increase in cybercrime, financial fraud, money laundering, and criminal/terrorist behaviours has prompted FINTRAC, FinCEN, and other governmental agencies and bodies around the world to increase compliance requirements in just about every industry, especially in the financial services sector. Not following the regulations can lead to severe penalties - even criminal liability. SoftLab9 has developed proprietary data analysis software that integrates with traditional data sources, greatly reducing research time and compliance costs. Softlab9 has future plans to integrate Artificial Intelligence (AI) to our datasets for even more efficiency in analyzing large amounts of structured and unstructured data. The Company has already entered into agreements for this product which will begin generating revenues this month.
About SoftLab9 (formerly APPx Group Holdings, Inc.)
SoftLab9 is engaged in software development for advertising, Fintech, RegTech, data aggregation, and compliance in today's new, data-driven business landscape. We strive to be industry leaders, creating innovations engineered from the ground up by our diverse culture of talent. SoftLab9 delivers sustained value by strategically producing next generation software and services to address our clients' immediate and long-term needs, helping them reach their goals on a global scale.
For more information, visit our new website at softlab9.com
Contact for SoftLab9:
Rahim Mohamed, Co-Founder & CEO
SoftLab9 Software Solutions Inc.
Jay Ruckenstein, Co-Founder & President
SoftLab9 Software Solutions Inc.
Certain statements in this release are forward-looking statements/information. Statements about the Company's plans and intentions, name change, symbol change, and consolidation, potential revenues, other potential transactions, product development, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statements are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the ability to successfully develop software, anticipated costs, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospects and opportunities; changes in laws and regulations; changes in and the effect of government policies; demand for products and services; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the common shares of the Company. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, changes in laws, negative sentiment towards the industry in which the Company operates, increase in operating costs, the loss of key directors, employees, advisors or consultants, technology failures, litigation, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.
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