Upco International Inc. Announces Corporate Update April 16th, 2021

Vancouver, British Columbia--(Newsfile Corp. - April 16, 2021) - Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) ("Upco") is pleased to inform shareholders of corporate updates and strategies. These documents can be accessed from the SEDAR website at www.sedar.com.

Upco International Inc, in response to a query from BCSC, would like to communicate a better disclosure on its Annual General Meeting procedures.

As part of the customary business undertaken in the Annual General Meeting, which will be held on April 22nd 2021 as stated in the press release dated March 11th 2021, Upco International Inc has presented five names as candidates for a seat on the Board of Directors. Upco International Inc has a "plurality" election, whereby the three candidates receiving the largest number of votes are elected.

Amongst the people being put forward as candidates is Mr. Estanislao Peña, who is at present Senior Partner with Kingsley Gate Partners. Before that he was Managing Partner in Caldwell Partners since 2016. Over a career of more than 25 years, he has worked in many different countries. He has spent over 20 years in the telecommunications sector; participating in the start-up of Nextel's operation in Argentina; working in the United States with responsibility for Mexico, Brazil, Peru, Chile and Argentina; and finally in Chile as CEO of Nextel Chile. From that position he transitioned to the CEO of Paperless LatAm, leading its regional operations. Mr Peña has a Bachelor of Science in Business Administration. He also furthered his education at Georgetown's McDonough School of Business, where he graduated from the senior leadership program. He is a native Spanish speaker, fluent in English, and also speaks Portuguese and French.

Upco International Inc further announces that it has changed its auditor from Davidson & Company LLP, Chartered Professional Accountants (the "Former Auditor") to MSLL CPA LLC, Chartered Professional Accountants (the "Successor Auditor") effective March 11, 2021.

The Company confirms that there have been no modified opinions in the Former Auditor's reports for the two most recently completed financial years or for any period subsequent to the most recently completed period for which an audit report was issued and preceding September 30th, 2020; The Company's Board of Directors and Audit Committee each approved the appointment of the Successor Auditor in place of the Former Auditor; there were no reportable events (as defined in National Instrument 51-102) in connection with each of the Former Auditor's audit of the Company which occurred prior to new appointment as auditors of the Company; and the Notice of Change of Auditor was approved by the Company's Board of Directors.

In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the audit committee and the board of directors and have been filed on SEDAR.

Upco International further announces the acquisition of fully and outstanding Share of Brilliance Global LLC, a corporation registered in Delaware that has been renamed Up One Inc and Andrea Pagani will assume the role of CEO of it.

The company's focus will be in the digital area, thus diversifying from the wholesale telecom business that is active in the other subsidiary, Oktacom inc. led by Mr. Juan Ramos Taboada.

As stated in the Webinar held on 23th July 2020, Up One Inc. will own the license of the Application Upco Mobile (the Asset) and it is preparing to split the two sections of the app:

  • Upco for telecommunication (UpcoNet) and
  • Upco for Fintech (UpcoPay).

The Company is currently evaluating a Marketing plan with a company specialized in branding and communication in order to launch the new brand and promote the new services in the fintech and telecom area.

Upco International Inc further announces that its technical department is working to upgrade the application Upco Mobile principally to enhance messaging and call security by implementing the following algorithm:

AES-256, Curve25519, ECDH, HMAC-​SHA256​​, Encryption keys exist only on user devices and nowhere else.

This is a critical update prior to the implementation of the fintech section within the application.

Additional improvements are:

  1. File transfer speed will be more rapid than before. Users can send any size files, at very high speeds.
  2. Auto correct will be displayed in quick reply mode.
  3. Better experience in sending multiple pictures.
  4. Users will be able to add a password to their profile to move the app from one device to another without SMS validation - very useful for travellers with different SIMs and phones.
  5. Improvement on the Upco - Out calls.

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.

Please visit www.upcointernational.com for further information.


Andrea Pagani, CEO and Director
+1 (646) 7661275

Forward-Looking Statements

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80676