TULSA, OK--(Marketwired - Feb 13, 2014) - Efftec International, Inc. (OTC: EFFI): The Company is pleased to announce that it has initiated the acquisition of BitBank from a private firm. The terms, conditions, and price have already been agreed to and memorialized between Efftec and the private seller, and we expect the transaction to fully consummate within a short time.
Efftec targeted this particular application for a variety of reasons, to be expanded on once we fully close this transaction. Our general strategy which compelled us to make this acquisition is centered around our belief that cryptocurrencies represent, at once, a novel currency, a novel marketplace, and a unique financial instrument which is only in its infancy. It is not often that an entirely new sector is born, and we believe the potential for commerce in this sector holds almost unlimited potential for expansion, and increased adoption in the years to come. Along with the very likely growth of the entire cryptocurrency sector will come opportunities for those involved, and properly positioned, to reap the rewards.
The Company will release further details on our plans and strategy surrounding this acquisition once fully complete. We expect the transaction to be closed within 1 week's time.
Efftec International, Inc. (OTC: EFFI) is a holding company with four operating subsidiaries. Efftec's core focus is on the acquisition and development of proprietary technologies. The Company is actively expanding its footprint in the technology marketplace through acquisitions of profitable, revenue-producing companies with proven business models.
Safe Harbor:
This Press Release may contain, among other things, certain forward-looking statements, including, without limitation, (i) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control).
