The completion of the acquisition is subject to amongst other things the completion of legal and financial due diligence, acceptance of a mutually acceptable financing of no less than $6,000,000 and the signing of a definitive agreement on or before October 15, 2007.
Greg Moss, President and CEO of Trustcash, commented: "We at Trustcash realize that together, Trustcash and Paivis could become a powerful prepaid organization. As a result we are making an aggressive offer to the Paivis shareholders. We feel confident this merger transaction will close and will benefit both our shareholder groups."
