July 28, 2021 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce successful signing of an Asset Purchase Agreement of an established Mexican Technology Company operating under the brand name Turbocarga (“Turbocarga Tecnología, S.A. de C.V.”). Turbocarga has been successfully providing payment processing services since 2009, with gross sales of $48,000,000 USD in 2019, serving the market as one of the largest distributors for AT&T in Mexico.
Newt shall engage in transitioning Turbocarga’s customers and vendors onto Newt’s Platform. The transaction also includes signing of Turbocarga’s Management and Employee agreements with Newt, in addition to cash and share compensation between the shareholders of Newt and Turbocarga. Additionally, Newt will acquire select assets of Turbocarga in exchange for common shares of Newt Corporation.
Simultaneously, with this transaction the Company is expanding its team, with Turbocarga’s Executives and the Technical Team joining Newt. Jamie Gudino has been appointed Director of Sales of Latin America, having a long track record in the industry as Director of Sales for AT&T, Movistar and Nextel. Additionally, Newt has appointed Juan Pablo Tellez as one of their Lead Programmers.
Sergio Maya Aleman, CEO of Latin America of Newt, stated: “Turbocarga is a great strategic asset purchase for Newt, thanks to its long history and services in the market, and we are confident that combining the resources under Newt will benefit our company’s growth tremendously. This transaction will add over 30,000 points of sale to Newt’s revenue stream, and will help expand the Kiosk network, adding more clients to our ecosystem”.
Turbocarga is a Mexican Company founded in 2015, providing payment processing services of bill and utility payments and mobile top ups to the Mexican market. Turbocarga’s platform for payment transfers, mobile payments solutions is utilized by top enterprise companies in Mexico. The company is backed by a veteran executive in the Telecom industry, and serves the entire national territory with more than 30,000 points of sale.
Turbo Carga has integrated services for debit and credit card processing, online stores and customized solutions for companies utilizing the latest payment processing technologies. The company serves the entire territory of Mexico, and is constantly innovating to bring new services to their clients to make their businesses increasingly competitive.
For more information, visit https://turbocarga.com
Newt Corporation is a Canadian Company with subsidiaries in USA & Mexico, currently delivering state-of-the-art digital payment services to consumers and service providers where 60% of the adult population does not have a bank account and where 80% of personal payments are made in cash. It currently provides Software & Kiosks solutions, within the Fintech Software Solutions Services, primarily focused on B2B such as Retail, Institutions and SME’s providing services to employees and the unbanked market.
Utilizing its developed SaaS technologies software and integrated partners, Newt can provide institutions and merchants, technology for solving KYC, AML, Mobile wallet, cashless mobile payment, bill payment, digital prepaid products, and other services for transactions on mobile devices, web and at Merchant Point of Sales. Newt is currently launching its own operated network of self service kiosks and applications that are designed to provide more convenient payment alternatives for consumers and more efficient billing for service providers.
Newt’s SaaS solutions, users and businesses can take away complex capabilities of transacting in the digital world, making payments, receiving funds, accepting bill payments at point of sales, thus allowing merchants a quick and seamless one-stop shop, for a more secure and efficient provider. Newt’s current SaaS platform is utilized by clients throughout North America & Latin America. Recently top enterprises and SME’s are choosing Newt as their single service provider for Payment solutions.
For more information, visit www.NewtFinancial.com
For further information, please contact:
100 King St. West, Suite 5700
Toronto, ON M5X 1C7
Forward – Looking Information
Certain information set forth in this news release may contain forward – looking information that involve substantial known and unknown risks and uncertainties. This forward – looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, failure to enter into a definitive agreement and complete the Acquisition, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward – looking information. The parties undertake no obligation to update forward – looking information except as otherwise may be required by applicable securities law.