Recent Financing Paves the Way to Achieve Strategic Growth Initiatives and Meet Up-List Requirements
SAN DIEGO, CA / ACCESSWIRE / October 30, 2020 / GreenBox POS (OTCQB:GRBX) ("GreenBox" or "the Company"), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, announced that it has submitted its application to up-list the Company's common stock on the Nasdaq Capital Market ("Nasdaq"). If approved, the company would begin trading under the ticker it has reserved "GBOX".
"We are very pleased the recent round of financing has put us in a position to execute on our growth strategy and work towards a major milestone by submitting our application to up-list to Nasdaq. We believe being listed on a national exchange will increase corporate visibility, improve liquidity, and broaden awareness of GreenBox in the financial markets," said Fredi Nisan, Chief Executive Officer of GreenBox. "We have made significant progress in strengthening our financial position and liquidity to meet Nasdaq's requirements. The $3.85 million private placement announced recently allows us to pay off existing debt obligations, secure important partnerships, and release our 3rd generation technology, code name: Gen3. We believe a successful up-listing is an important next step in our evolution and increasing shareholder value."
Acceptance for listing the Company's shares is subject to approval based on several factors including satisfaction of minimum listing requirements for the Nasdaq Capital Market. The Company intends to satisfy all of the applicable listing requirements, however, there is no assurance that its application will be approved. During the Nasdaq review process, the Company's common stock will continue to trade in the U.S. on the OTCQB Venture Market under its current symbol, GRBX.
About GreenBox POS
GreenBox POS (OTCQB:GRBX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, reducing fraud and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company's website at www.greenboxpos.com.
Forward-Looking Statements Disclaimer
This 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: GreenBox POS, LLC