Washington D.C., May 01, 2018 (GLOBE NEWSWIRE) -- Xalles Holdings Inc. (OTC: XALL), a company focusing on accelerating fintech companies, leveraging blockchain technology for financial reconciliation, and payment auditing solutions, this week executed a Share Purchase Agreement for the acquisition of Co-Owners Rewards Inc., a consumer payment rewards company.
Xalles will leverage this acquisition to expand its reach into the lucrative consumer payments market. Co-Owners Rewards is planning to launch a unique rewards program linked to consumer payment cards and mobile payments. Co-Owners Rewards Inc. is also the sole shareholder of Amazing Living Enterprises Inc., a network and referral marketing firm which currently distributes healthy consumer products, administrates an affiliate management program, and manages a prepaid card program for its members. Amazing Living launched its Amazing Living Mall earlier this year. The “mall” is an e-commerce shopping experience that provides the consumer with access to over 1,200 major retailers and service providers, including Walmart®, BestBuy®, Home Depot®, Expedia®, and many others, but with the added benefit of receiving cash back rebates on each purchase.
“This acquisition gives Xalles two new, foundational building blocks in the consumer e-commerce and payments space,” said Xalles CEO, Thomas Nash. He continued, “We will continue to seek out strategic acquisition targets that will complement these businesses and add value to our company.”
The Co-Owners and Amazing Living acquisition transaction is planned to close on, or before, May 15, 2018. Upon closure, Co-Owners Rewards Inc. and Amazing Living Enterprises Inc. will each become wholly-owned subsidiaries of Xalles Holdings Inc. The share purchase agreement provides the opportunity for current Co-Owners shareholders to become shareholders of Xalles through the recently created Series C Preferred Shares.
Xalles Holdings will provide financial management and information technology support to the two new subsidiaries, to assist in their growth.
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holdings company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities to invest and accelerate growth in. Recently, the company has placed emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which will allow for the capture of recurring revenue streams over time. For more information visit: http://xalles.com
Visit us at Investors Hangout: https://investorshangout.com/Xalles-Holdings-Inc-XALL-91200/
Investors Hangout is the only authorized investors blog page for Xalles Holdings Inc.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com