Lottogopher target Bravio signs LOI with XTM Lottogopher Holdings Inc. has provided an updated pursuant to its April 29 shareholders meeting wherein all motions put forth, including the resolution approving the acquisition of Bravio Technologies Inc., were approved.
Bravio has entered into a non-binding LOI with the Canadian digital payment and ecommerce provider XTM INC ("XTM"). The engagement permits the parties to approve binding terms (the "Heads of Terms") and subsequently integrate XTM's sophisticated mobile wallet and pre-paid debit cards into Bravio's global eco system, offering same day fulfilment. Bravio's global customers will now have access to funds on a prepaid customised Mastercard or Visa cards as XTM's mobile wallet supports various currencies including multiple crypto currencies.
Through a simple API integration, XTM will connect Bravio to its powerful Payment Application and Web platform enabling players "immediate transactions" to a customised prepaid card allowing players to benefit from real- time access to their funds. Bravio will create its own "Payment Card Global Network".
Bravio's CEO Paul Carroll added, "The digital entertainment industry has a growing demand for instant payment and settlement solutions, at Bravio we specifically need to meet and maintain global banking compliance. XTM's pre-paid cards will allow Bravio the option to transfer client winnings securely, directly to our customer's Visa or Mastercard's. With XTM onboard, Bravio will have the added option of creating our own Payment Card Network, we will be able to track and reconcile fund disbursements regardless of our customers location, transaction amounts or their currency of choice. The pre-paid card encompasses Bravio's entire ecommerce value chain and it offers Bravio the option to offer customers a "bonus cash" loyalty program. Also, the onboarding of a crypto currency transaction gateway is a fantastic value add as it supports our crypto sales strategy. We are delighted to take this opportunity to form a partnership with XTM as their expertise and innovation across global payment's and banking will result in strengthening Bravio customer retention strategy. We trust that this LOI will lead to an ongoing and mutually beneficial partnership."
The Lottogopher Bravio RTO Update:
During the April 29, 2019, Shareholders Meeting all motions put forth, including the resolution approving the acquisition of Bravio Technologies (the "RTO Transaction"), were approved as more particularly described in the Company's management circular dated April 3, 2019 - a copy of which is available under Lottogopher's profile on SEDAR at www.sedar.com
The Company wishes to thank its shareholders for their patience and ongoing support of the RTO with Bravio. Once the Company's audit and its current financing is complete, Lottogopher intends to update the market with a Qualifying Transaction closing timeline. The Company anticipates the group audits and current financing will conclude the week commencing September 30, 2019.