QPAGOS Comments On Recent Market Activity
MEXICO CITY, MEXICO -- (Marketwired) -- 12/12/16 -- QPAGOS Corp. (OTCQB: QPAG), a U.S.-based provider of digital payment services for cash-based and unbanked consumers in Mexico, wishes to make the following statements regarding certain recent promotional activity surrounding the Company's common stock of which it was made aware by OTC Markets on December 5, 2016.
The activities were promotional newsletter emails encouraging investors to purchase the Company's common stock. This promotional activity coincided with higher than average trading volume and fluctuations in the Company's stock price.
The Company was unaware of the promotional activity until informed by OTC Markets, and is unaware of the full nature of the promotional activity, the extent of the email newsletters' dissemination, or the responsible parties.
Neither the Company, its officers, directors and, to the Company's knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) have, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of promotional materials including these email newsletters; and that neither the Company's officers, directors and, to the knowledge of the Company, any controlling shareholders, sold or purchased shares of Common Stock of the Company within the last 30 days.
"The Company is not affiliated in any way with the authors of these promotional newsletter emails," commented Gaston Pereira, CEO.
U.S. based QPAGOS delivers state-of-the-art digital payment services to consumers and service providers in Mexico where 60% of the adult population does not have a bank account and where over 80% of personal payments are made in cash. It operates a network of self-service kiosks and applications that provides more convenient payment alternatives for consumers and more efficient billing for service providers. www.qpagos.com
Released December 12, 2016