Investview Closes Acquisition of Instilend, Inc.
DRAPER, Utah, Oct. 24, 2012 /PRNewswire/ -- Investview, Inc. (OTCBB: INVU)("Investview") announced today that it has completed the acquisition of Instilend, Inc.
In accordance with a Share Exchange Agreement dated September 13, 2012, Investview agreed to acquire 100% of the outstanding securities of Instilend in consideration for 500,000 shares of common stock of Investview and a Convertible Promissory Note in the principal amount of $500,000. The Convertible Promissory Note pays interest in kind at 5%, will mature three years from the date of issuance and converts into common stock at a price of $8.00 per share.
Instilend provides electronic securities lending tools via fully automated on-line technology to the institutional, high frequency and retail trading communities. Through utilization of the Instilend platforms, Matador and LendEQs, firms are now able to provide compliance and operational efficiency, while simultaneously creating new revenue streams. Instilend has positioned itself as a differentiating market leader in the securities lending space.
Dr. Joseph J. Louro, Chairman and Chief Executive Officer stated that "the closing of this deal is another important piece toward the overall success of our strategy to diversify revenues and leverage technology."
About Investview, Inc.:
Investview, Inc. provides and delivers a comprehensive online program of investor education, offers proprietary investor search tools and trading indicators, distributes weekly newsletters and offers access to live weekly Trading Rooms at www.investview.com and www.7minutetrader.com.
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SOURCE Investview, Inc.