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GTFN HOLDINGS INC, OTC Markets BTOW, Announces Reverse Merger with Pryvate Technologies Limited
Thursday, July 7, 2022
DENVER, June 29, 2022 /PRNewswire/ -- GTFN HOLDINGS INC, OTC MARKETS "BTOW", a Nevada Company today announced that it completed a reverse merger by acquiring Pryvate Technologies Limited ("PTL"), a U.K. company that focuses on providing secure communications solutions, and that was wholly owned by Criptyque Limited ("CL"). CL is a Jersey, Channel Islands holding company that in turn is owned and controlled by a number of private UK citizens and residents.
The reverse merger into GTFN Holdings Inc. (BTOW) values PTL at US$400,000,000, in an all-stock acquisition of the company, and was satisfied by the issuance of 200,000,000 Restricted Common Shares issued at $2.00 per share. This reverse merger has now been completed and PTL has now become a wholly owned subsidiary of BTOW. CL becomes the majority Shareholder of BTOW, with a near- 80 % ownership interest in BTOW.
Jonathan Parker-Bray is the co-founder and chief executive officer of CL and PTL, and who is now also CEO Of BTOW, said, "This is an important milestone in the evolution of PTL for it to accelerate its development in the global secure communications market."
BTOW intends to engage an advisor to assist with a potential up-listing to the Nasdaq Small Cap Markets in conjunction with a potential private placement offering to raise new primary capital that can be used for working capital and growth objectives. BTOW hopes to announce the engagement shortly.
About PTL
PTL has developed PryvateNow {later rebranded as Pryvate Messenger} ("Pryvate"): see www.pryvatenow.com for more details. In Summary, Pryvate is a comprehensive communications security solution that protects a customer's on/off line communications and files across their mobile and static devices. Pryvate secure communications across all channels including voice, mobile email, desktop email, video, Instant Messaging and File transfer/sharing.
Safe Harbor Statement: This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934; and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and as such are by definition subject to risks and uncertainties.
View original content:https://www.prnewswire.com/news-releases/gtfn-holdings-inc-otc-markets-btow-announces-reverse-merger-with-pryvate-technologies-limited-301578077.html
SOURCE GTFN HOLDINGS INC
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