On4 Reaches Agreement in Principle for License


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OTC:BB:ONCI
06/25/2014 [ACCESSWIRE]

VANCOUVER / ACCESSWIRE / - On4 Communications, Inc. ("On4") (OTCQB: ONCI) would like to announce that it has reached an agreement in principle to terms of a Licensing Agreement with NetCents. The parties are continuing to work towards finalizing the agreement. 

The license will allow for On4 to participate in the crypto currency segment by providing the transaction platform to Bitcoin providers, Bitcoin Exchanges and merchants who now accept Bitcoins or other types of cyber currencies. NetCents has been in discussions with a number of crypto-currency companies and has begun the API integration process with one of them. The crypto-currency segment is becoming more main stream as traditional retailers such as Home Depot, CVS, Kmart, Sears and Amazon have all begun to accept Bitcoins.

On4 will be able to use the NetCents platform to process both traditional cash based transactions and crypto or digital based ones as well. In the interim, On4 will continue to look for other acquisition opportunities in the payment transaction space and specifically the crypto-currency segment.

About On4

On4 Communications is a development stage company focused on wireless and online payment technologies. On4 is actively looking for acquisition and merger opportunities within these industries. The Company is a Development Stage Company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, Development Stage Entities, and has not yet generated significant revenues from their intended business activities.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements.  Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties.  See ON4’s filings with the United States Securities and Exchange Commission which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

Zouvas Law group 

For further information please contact:  619 955-6436          

SOURCE: On4 Communications

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