VANCOUVER, British Columbia, April 10, 2015 (GLOBE NEWSWIRE) -- Fundamental Applications Corp. ("Fundamental") (CSE:FUN), a leading developer of innovative, millennial-targeted smartphone applications today announced it will be attending and presenting at the 2015 Growth Capital Expo on April 13th and 14th at Caesars Palace in Las Vegas, NV.
The Growth Capital Expo provides a venue for selected early stage MicroCap companies to showcase their opportunities to qualified investors, executives, and finance specialists who focus specifically on growth opportunities within the pre-IPO and public markets. Representing Fundamental Applications will be Board Advisor Arni Johannson and recently appointed CEO and Director Richard Whitehead.
"The Growth Capital Expo is well-attended by the type of investor that is a perfect fit for Fundamental," stated Richard Whitehead, CEO of Fundamental Applications. "We are privileged to have been invited to present at this event and I look forward to connecting with the right people to showcase the business model of our latest acquisition and its ability to achieve real-world, explosive growth. Foro is positioned to disrupt and dominate the student peer-to-peer marketplace."
"As an Advisor to the Fundamental Board, I suggested they attend the Growth Capital Expo and offered my assistance," stated Arni Johannson. "Our schedule of one-on-one presentations is quickly filling and interest in Fundamental Applications as an investment opportunity is growing steadily. I have every confidence this will be a successful event for Fundamental."
For more information about the conference or to schedule a one-on-one meeting with the Fundamental team, please contact Justin Rasekh at 778.998.4235.
Clarification
The Company wishes to rectify a typographical error in a news release issued April 9, 2015, announcing the closing of its acquisition of Foro Technologies. In that news release, the terms of the acquisition were explained and incorrectly stated that 600,000 of the 1.7 million shares exchanged by Fundamental with Foro's shareholders in the transaction were released immediately, subject to restrictions. The correct number of shares released immediately is 500,000. The balance of 1.2 million shares are escrowed and will be released upon Foro reaching certain milestones, as detailed in the previous day's news release. If the milestones are not achieved within 12 months of closing of the acquisition of Foro, all escrowed shares not yet released will be cancelled.
Stock Options
In addition, the Company announces that on closing of the acquisition of Foro, it granted incentive stock options to an advisor to purchase a total of 100,000 common shares at an exercise price of $0.28 per share. The options vested immediately and may be exercised for a period of 5 years from the date of issuance or earlier in accordance with Fundamental's incentive stock option plan.
Director Change
Mr. Richard Whitehead, CEO, has replaced Mr. Justin Rasekh as a director of the Company. Mr. Rasekh remains a consultant to the Board of Directors of the Company.
About the Growth Capital Expo 2015
The Growth Capital Expo is being held on April 12-14, 2015 at Caesars Palace in Las Vegas, NV. Over 500 attendees will experience two and a half days of educational panels and presentations by leading practitioners of investment in public and late-stage private emerging growth companies, presentations by selected MicroCap and pre-IPO growth company management teams, and a pre-conference designed to further the marketing and governance education of attending executives and investors.
About Fundamental
Fundamental Applications Corp. (CSE:FUN) designs, develops, markets, and acquires innovative mobile applications targeted at the "Millennials" generation; people born in an age of digital technology, internet access, and smart phones. This demographic is an early adopter of mobile technology, has significant discretionary income, and is lifestyle driven with a willingness to try new things. Our three leading mobile platforms are Foro: a peer-to-peer mobile ecommerce marketplace, Truth: a one-to-one anonymous messaging app previously listed in the top 100 social networking apps in the Apple App Store, and Serum™: an app that enables users to post questions to their friends and receive answers anonymously. Our motivation is simple. We make the world better by offering fun and easy-to-use mobile applications that improve lifestyles and personal safety. For more information, visit us online at www.funappcorp.com.
Further information about the Fundamental is available under its profile on the SEDAR website www.sedar.com and on the CSE website www.thecse.com. For further information on Fundamental, please contact:
Justin Rasekh
Advisor to the Board & Co-Founder
Telephone 778.998.4235
Email: justin@funappcorp.com
www.FunAppCorp.com
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Fundamental. Forward-looking information is based on certain key expectations and assumptions made by the management of Fundamental. Although Fundamental believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Fundamental can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Fundamental disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.