PALO ALTO, CA — (Marketwired) — 12/10/14 — (OTCQB: AVRN) (“Avra” or the “Company”), a development stage Company focused on product innovation and activities to further global commercial activation of merchant and consumer interaction in the Bitcoin-related digital currencies market, is pleased to announce today the close of an initial seed funding round of US$150,000.
On December 5, 2014, the Company closed a financing transaction by entering into a subscription agreement with a non-U.S. investor for aggregate investment proceeds of $150,000. Pursuant to the subscription agreement, the Company issued 600,000 shares of the Company–s common stock at a purchase price of $0.25 per share, and a warrant to purchase an aggregate of 600,000 shares of the Company–s common stock, for an exercise price of $0.50 per share for a period of one year from the closing date.
The foregoing securities under Purchase Agreement were offered and sold without registration under the Securities Act of 1933 (the “Securities Act”) in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act and/or Regulation S promulgated thereunder and in reliance on similar exemptions under applicable state laws.
“Avra will employ the funding to further develop its payment platform for both traditional and digital currency payments and in establishing its global distribution strategy moving into 2015,” said Stephen Shepherd, Chief Executive Officer of Avra, Inc. Mr. Shepherd continued, “We now have the technology and partners in-place to leverage our access into strategic regional markets. Our goal is to demonstrate the speed in which we can prove our concept and to continue to seek additional capital in order to build our network as rapidly as possible. The worldwide Bitcoin opportunity is like a vacuum waiting to be filled and we are ready to act decisively.”
This information is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any securities. Additional details of the Company–s business, finances, appointments and agreements can be found as part of the Company–s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1933 filed with the Securities and Exchange Commission–s (“SEC”) EDGAR database.
For more information please visit our current website and come back soon as we prepare to launch our all-new look at: .
(OTCQB: AVRN)
The Company is focused on solutions in the digital currency markets, particularly in offering payment solutions to businesses worldwide. The Company–s business model is divided into four distinct categories: AvraPay: to develop a complete, turn-key and painless way for merchants to accept Bitcoin as Payment; AvraATM: to promote usage and acceptance of digital currencies through the Company–s proposed network of ATMs; AvraTourism: to provide cryptocurrency payment processing solutions for merchants such as hotels and casinos; AvraNews: to provide a news portal focusing on digital currency news. For more information about the Company please visit: .
Additional information regarding Avra, Inc. and its filings can be found at .
Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the closing of the share exchange agreement. The words “plan”, “forecast”, “anticipates”, “estimate”, “project”, “intend”, “expect”, “should”, “believe”, and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company–s actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company–s filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Avra, Inc., herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Avra, Inc., disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
For further information, please contact:
Avra, Inc.
1-(844) 884 9662
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