LOS ANGELES, Dec. 18, 2012 /PRNewswire/ -- The Wiki Group, Inc. (OTCQB: TWGI) ("Wiki Group", or "the Company") is pleased to announce it has signed two investment banking agreements with a leading New York-based investment banking firm to assist in sourcing capital. The investment banking firm was founded in 1925, is one of the oldest in the United States, a member of the New York Stock Exchange and a full-service broker-dealer employing over 500 people. The firm manages two Morningstar- rated funds with over $2.8 Billion of retail accounts, nearly 100 registered representatives and 20 investment advisors in six offices.
Under the first agreement, the Company has retained the investment banking firm as its exclusive placement agent and financial advisor in connection with an offering of up to a $3 million PIPE and up to a $20 million debt placement. The agreement shall be applicable only upon the Company successfully merging with Moneytech Limited, an Australian commercial finance company.
The second agreement anticipates a public shelf offering of up to $10,000,000 on a firm commitment basis. The planned public offering is also subject to the Company's successful merger with Moneytech Limited, an Australian commercial finance company.
The Company's CEO, Edward C. DeFeudis, said, "We are grateful to have established this relationship with such a prestigious New York Stock Exchange member firm. The commitment validates our planned acquisition and long term business plan. The investment bank should provide the Company a strong foundation in the public markets, while its backing should allow the Company to gain a foothold to deliver its niche financial services products to the estimated 70 million unbanked and under-banked adults residing in the United States. The management believes we can satisfy the conditions in both investment banking agreements."
ABOUT THE WIKI GROUP, INC.
The Wiki Group, Inc. owns and operates two proprietary state-of-the-art technology platforms, WikiPay and WikiLoan.
WikiPay is a low-cost, cash-based mobile payment and marketing platform solution for Peer-to-Peer (P2P), Business-to-Consumer (B2C), Consumer-to-Business (C2B), and Business-to-Business (B2B) transactions. For more information, please visit: www.wikipay.com or the mobile website: m.wikipay.com.
WikiLoan is a low-cost peer-to-peer lending platform that works through the participation and collaboration of family and friends through social networks. The company's website www.wikiloan.com provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
ABOUT MONEYTECH LIMITED
Moneytech is a commercial finance company that offers small to medium sized enterprises (SMEs) unique cash-flow solutions to assist growing their businesses. The Moneytech Exchange offers proprietary Internet banking platforms for Buyers, Sellers, and Moneytech staff to deliver leading edge financial solutions.
Moneytech offers four main products to the business community: 1) Credit Express - 100% trade finance facility for SMEs $25,000- $1 million, 2) Confirmed Capital - 100% accounts receivables funding for SMEs $1-$5 million, 3) Card Solutions- Wholesale gift and prepaid debit card solutions, and 4) Foreign Exchange solutions - Spot Transactions, Forward Cover, Derivatives and Options.
The Company's website is located at: www.moneytech.com.au
FORWARD LOOKING STATEMENTS This news release may include "forward-looking statements" regarding The Wiki Group, and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where The Wiki Group expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. The Wiki Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
CONTACT: Investors may contact: Market Street Investor Relations Inc. at (877) 218-9173.
SOURCE The Wiki Group, Inc.