News: ceo.ca/@newsfile/...nology-provides-further-details-of-credit
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2020) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company"), a cryptocurrency payments technologies company, is pleased to provide further information regarding the institutional credit facility it received totaling 1.4 billion USD to power merchant settlements.
The term of the credit facility is 15-months with auto-renewing one-year terms. There is no interest paid on this credit facility. For the first three months of the term, there are no fees associated with the credit facility. Upon the completion of the first three months of the contract term, fees will be negotiated as a percentage of revenue generated through the credit facility.
NetCents has partnered with a handful of forward-thinking institutions to use its merchant order flow as a supply for a short-term crypto portfolio. The credit line will enable NetCents to have money in the market over an extended period, and be able to profit from arbitrage opportunities. The profits from this arbitrage will ultimately allow NetCents to reduce fees to its client base.
The Company has granted stock options for a total of 3,000,000 common shares of the Company to officers, directors, employees, and consultants of the Company. These stock options are exercisable at $2.26 per stock option and will expire on June 24, 2021. The stock options will vest immediately.