NetCents Technology Inc. (CSE: NC) is pleased to announce the closing of its previously announced (see news release dated September 12, 2018) non-brokered private placement.  Due to demand, the Offering was increased from a maximum of $1,500,000 to $2,161,000.

Pursuant to the Offering, the Company issued 2,161,000 units at a price of $1.00 per Unit, for gross proceeds of $2,161,000.  Each Unit consists of one common share of the Company  and one common share purchase warrant of the Company. Each Warrant entitles the holder to acquire one common share of the Company at an exercise price of $1.25 for a period of 24 months from the closing date of the Offering.

In connection with the Offering, the Company paid $8,470 in finder’s fees.

The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the date a news release is issued announcing the accelerated expiry date in the event that the volume weighted average closing price of the Shares on the Canadian Securities Exchange is greater than or equal to $1.50 for a period of 20 consecutive trading days after four months and one day from the closing of the Offering.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day following the closing date of the Offering in accordance with applicable securities legislation, expiring on January 26, 2019.  The Company intends to use the net proceeds from the Offering for general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About NetCents

NetCents is a next-generation online payments processing platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online.

NetCents Technology is integrated into the Automated Clearing House (“ACH”) and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer’s security and privacy. NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay Your Way. ™