Form S-1 Resale Registration Statement Permits Resale of Common Stock from Prior Financing Transaction
SmarCard will not receive any proceeds and no new securities are being offered
Wilmington, DE, Jan. 31, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- SmartCard Marketing Systems, Inc. (OTCQB: SMKG) (“SmartCard” and the “Company”), an industry leader in specialized industry e-Commerce, Cloud and Mobility applications delivering White-Label solutions to the global PayTech and FinTech markets, announced today that its Form S-1 resale registration statement relating to the potential resale of shares of common stock has been declared effective by the U.S. Securities and Exchange Commission (“SEC”) on January 31, 2023.
“We are pleased that the SEC has declared our Form S-1 effective, which represents a significant milestone in our capital plan, as we continue to grow our Fintech and Paytech IP and operations globally,” said Massimo Barone, CEO and Chairman of SmartCard. Mr. Barone continued, "This will enable certain holders of our outstanding common stock to offer and sell their shares from time to time. As a result, a more liquid trading market in our shares could potentially develop over the coming months.”
SmartCard will not receive any proceeds from the sale of any securities covered by the registration statement. Securities registered pursuant to the registration statement are not required to be sold, and the registration of the securities does not necessarily indicate that any stockholder intends to sell its securities.
SmartCard's common stock is currently listed on the OTCQB under the symbol "SMKG". The shares of common stock covered by the registration statement were previously issued by SmartCard and are being registered to fulfill SmartCard's registration rights obligations to certain stockholders.
The registration statement, while effective, permits resale of the securities covered by the registration statement, subject to the satisfaction by the seller of the securities with the prospectus delivery requirements of the Securities Act of 1933.
The offering of the securities covered by the registration statement may only be made by means of a prospectus. The registration statement and prospectus may be accessed through the U.S. Securities and Exchange Commission's website at www.sec.gov. A copy of the prospectus related to the offering may be obtained from SmartCard Marketing Systems, Inc., 20C Trolley Square, Wilmington, DE 19806, or by calling 844-843-7296.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About SmartCard Marketing Systems, Inc.
SmartCard Marketing Systems, Inc. (OTCQB: SMKG) (“SmartCard” and the “Company”) is an industry leader in specialized industry e-Commerce, Cloud and Mobility applications delivering White-Label solutions to the global PayTech and FinTech markets. SmartCard is a boutique technology company, providing Business Intelligence and Digital Transformation Strategies with a proprietary portfolio of applications and wireframes for Banking, Enterprises and Retail e-Wallets offering Blockchain Protocols, Crypto Issuing, NFT Minting, Tokenization, Digital ID-eKYC, Digital Automation Strategies with “License to Own” marketplace applications.
For more info visit: www.smartcardmarketingsystems.com
or visit our business applications marketplace at: www.emphasispay.com
Safe Harbor Provision
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the Company's future financial position, business strategy, plans and objectives, growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors set forth in the Company's Form S-1 Registration Statement, as amended, and its other filings and submissions with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.
Investor Contact:
For additional enquiries & Enterprise Program connect with:
Dharmesh Vora
President Enterprise Solution
SmartCard Marketing Systems Inc.
dvora@smartcardmarketingsystems.com
CEO, Massimo Barone
mbarone@smartcardmarketingsystems.com
SmartCard Marketing Systems Inc.
OTCQB:SMKG
Ph: 1-844-843-7296
news@smartcardmarketingsystems.com
