Upco International Inc. Provides Additional Information on the Non-Binding Letter of Intent with its first Telecom Target
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2019) - Upco International Inc. (CSE: UPCO) (OTCQB: UCCPF) (FSE: U06) ("Upco", the "Company"), announces further to the press release announced on November 1, about the signing of a non-binding Letter of Intent ("LOI") to acquire its first target in the telecom industry., the proposed transaction entails a cash consideration of US$592,000 and stock consideration of US$208,000 for a total consideration of US$800,000. The stock consideration of US$208,000 will be paid using the closing price of Upco stock on the closing date. The LOI pertaining to this transaction is non-binding and the transaction is subject to due diligence and the signing of a definitive agreement.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
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