AuthentaTrade Reports Results of Meeting With Dubai-Based A-Round Investors
2015-08-10 07:00 ET - News Release
NEW YORK, NY -- (Marketwired) -- 08/10/15
Costas Inc. (OTC PINK: CSSI) (CSSI or "the Company") and AuthentaTrade Inc. ("AuthentaTrade") are pleased to announce that the Company has engaged Dubai-based Global Equity Partners PLC ("GEP") to raise $32 million USD on behalf of AuthentaTrade.
As part of AuthentaTrade's strategic growth plan, the company is seeking to raise $32 million in near-term financing. These funds will be used to launch and support AuthentaTrade's product suite, as well as finance targeted acquisitions. GEP's arranged meetings with AuthentaTrade's management, along with pillars of finance such as Barclays Investment Banking, M Capital Group, Baker Tilly, Sovereign Gulf and Arqaam Capital, were a great success. GEP and AuthentaTrade are diligently working toward a listing on the Nasdaq Dubai.
Peter Smith, president of GEP, stated, "We are finding an appetite for a digital currency platform here in The Middle East, it is an inevitability that digital currencies will becomes part of life in years to come, we at GE Partners are excited about being part of a unique platform for such currencies and anticipate one or more of our partners sharing our emotion and assisting the company in its capital raising exercise."
In several respects, the meetings also revealed key points that reaffirm AuthentaTrade's potential as it works to secure funding and advance in the digital currency market.
AuthentaTrade CEO Gwyn Jones stated, "The scheduled meetings in Dubai and the immediacy in which they took place show us two very important things: the digital currency market is ripe for investment, and Costas is committed to our growth. We're grateful to have Costas in our corner as our first capital investment partner. Together, I hope so secure the $32 million -- we want our name on one of the largest investments in the space to date."
On par with the increasing acceptance of digital currency on a global scale, AuthentaTrade is poised to deliver a fresh suite of innovative products that take advantage of opportunities provided by a growing market.
Ash Sansalone, CEO of Costas, remarked, "These are exciting times and I'm impressed with the presentation the team has put together for GEP. The products and targets are compelling and I see no reason why they won't attract significant attention in Dubai. It's my understanding that Dubai, by nature, wants to be on the cutting-edge of technology and innovation. We will present them with the opportunity they have been looking for -- a world class digital currency business they can groom for a listing on the Dubai Nasdaq."
About Costas Inc.
Costas Inc. is a publicly traded company focused on investing in and incubating promising digital currency-based businesses and entrepreneurs by providing access to a global infrastructure of financial and legal professionals and investment groups. Costas identifies "Fintech" emerging companies that, with some incubation and professional experience, will become the next standard in banking, commercial trading and lending.
About AuthentaTrade
AuthentaTrade Inc. is poised and committed to becoming the leader in the burgeoning digital currency financial landscape. Our revolutionary FOREX and derivatives exchange products will provide the flexibility and efficiency this market desperately needs.
AuthentaTrade's goal is to help stabilize the digital currency market by providing bank-level system architecture and security for depositors, and by introducing market liquidity where it has never previously existed.
