|By Marketwired .||
|July 10, 2014 10:23 AM EDT||
WEST PALM BEACH, FL--(Marketwired - July 10, 2014) - FastFunds Financial Corporation ("FastFunds" or the "Company") (PINKSHEETS: FFFC) and its wholly-owned subsidiaries, Cannabis Angel, Inc., and The 420 Development Corporation, are pleased to announce the completion of a signed letter of intent pertaining to the acquisition of a revenue producing company in the security industry. The acquisition candidate specializes in armed and unarmed security, training and investigations. Their existing team is made up of active and former police officers, private investigators, law enforcement and military tactical trainers, private security consultants, skip tracers and school security professionals. Upon closing of this proposed acquisition, the Company will look to diversify their existing marketing strategy to include security based services within the cannabis sector.
The Company has scheduled an in-person meeting with the acquisition candidate during the week of July 14
The aforementioned letter of intent is non-binding. Completion of this transaction is subject to, amongst other things, further due diligence by the parties, negotiation and execution of a definitive agreement, and any board of director and/or stockholder approvals as necessary.
Mr. Henry Fong, President of FastFunds Financial Corporation states: "We are very pleased in having this opportunity materialize in such a short time frame. The company that we are currently looking into acquiring has a solid business with long-term growth potential amongst their existing portfolio of customers in addition to the proposed transition into the cannabis industry. Most importantly, the company is producing revenues that will accelerate and maximize our shareholder value exponentially. We hope to have successful meetings during the week of the 14
Given its ongoing initiative of maximizing shareholder value, the Company's management strives to locate and capitalize on revenue producing opportunities. Its goal in building FastFunds into a sustainable going concern will elevate the Company into a higher playing field and separate it from other publicly traded companies competing in the space. The Company anticipates that once this proposed transaction has been finalized, the investment community at large will recognize the value that has been generated and will reward our current and future shareholders with higher valuations.
The Company is also in talks with other acquisition candidates that are also producing revenues and are well positioned to transition their current service offering into the cannabis industry. Shareholders of the Company can expect to receive additional updates pertaining to these developments in the coming weeks.
About FastFunds Financial Corporation
FastFunds Financial Corporation is a holding company that is publicly traded on the Pink Sheets exchange, under the symbol "FFFC." The Company currently operates in the financial services industry segment with a single credit card services portfolio. The Company is currently seeking new business opportunities to diversify and complement its current services and products, to enhance its technical capabilities and to offer growth opportunities to its stockholders. The Company recently announced the formation of Cannabis Angel, Inc., a company involved in providing financing alternatives, corporate finance and general management consulting services to early-stage cannabis companies and related ventures. Most recently, the Company developed and launched GreenEnergyMedia.TV. This new website acts as an interactive social media hub that caters exclusively to providing the medical and recreational marijuana communities with access to several hundred news and social media feeds in real-time.
This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
FastFunds Financial Corporation & Cannabis Angel, Inc.
Mr. Henry Fong
Chairman and Chief Executive Officer
Phone: (561) 514-9042