Sekur Private Data Makes a Strategic Entry into the Multi-Billion Dollar Telecom and Fintech Markets, Bolstered by over $5 Million in Capital Contributions from Cuentas, Inc.
Cuentas, Inc. Investment Supercharges Profitability Objective by Boosting Marketing and Sales Initiatives, Elevating Client Acquisition Rates, and Increasing Asset Value
Miami, Florida, and Toronto, Ontario--(Newsfile Corp. - May 7, 2024) - Sekur Private Data Ltd. (OTCQB: SWISF) (CSE: SKUR) (FSE: GDT0) ("Sekur" or the "Company"), a premier Swiss-hosted secure and private communications platform, proudly announces the signing of a Letter of Intent, marking its strategic expansion into the Telecom and Fintech markets. Today, Sekur has signed a pivotal agreement for the intended contribution of a Mobile Virtual Network Operator ("MVNO") telecommunications company, accompanied by a US$500,000 cash infusion into Sekur Private Data, Ltd., by Cuentas, Inc. (OTC Pink: CUEN) (OTC Pink: CUENW) ("CUEN").
Cuentas, Inc. (www.cuentas.com), headquartered in Miami, Florida, stands at the forefront of innovation, seamlessly integrating fintech, mobile telecommunications, and real estate to serve the vibrant Hispanic demographic, particularly the unbanked and underbanked communities.
Cuentas, Inc., will make a capital contribution of US$500,000 in shares of Sekur at a premium rate predetermined above market value. This infusion of capital is strategically earmarked to supercharge the Company's marketing and sales initiatives, fuel further software development endeavors, and elevate the standards of customer care, all in a concerted effort to expedite the journey towards profitability.
Sekur will acquire full ownership of Meimoun & Mammon LLC, operating as M&M Telecom, in an all-restricted-shares transaction. The deal, valuing the company at over US$5 million and offered at a 50% discount, aligns perfectly with the capital injection valuation. Following the definitive agreement, both organizations have committed to seamlessly integrating CUEN's leadership into Sekur's distinguished Board of Directors.
The acquisition of the MVNO operation marks a significant milestone in service excellence, setting new standards in oversight and safety for both individual and corporate clients. Managed by M&M Telecom, Cuentas Mobile will now feature Sekur's extensive array of Swiss-hosted security solutions-including encrypted email, secure messaging, privacy-focused VPN, and soon, secure video conferencing. This strategic integration is tailored to propel Sekur into both the corporate and retail spheres, ensuring unmatched security and confidentiality for all users.
Enhanced by comprehensive regulatory support and powered by an advanced portfolio of cybersecurity tools, Sekur's partnership with Cuentas will innovate through a licensing agreement for financial services offered by Cuentas Fintech. This collaboration not only aims to revolutionize industry benchmarks but also to open new channels for revenue growth and innovation for both Cuentas, Inc. and Sekur Private Data, Ltd.
With this pivotal acquisition, Sekur is strategically positioned to expand its reach into vital industries including finance, healthcare, telecommunications, defense, and law enforcement, reinforcing its role as a leader in secure and private communications.
The terms of this landmark transaction remain subject to rigorous mutual diligence and corporate approvals, slated for completion prior to May 31, 2024. Further details regarding this transaction will be disclosed by Sekur Private Data Ltd. through forthcoming communications and the requisite regulatory filings.
About Sekur Private Data Ltd. Sekur Private Data Ltd. is a cybersecurity and Internet privacy provider of Swiss hosted solutions for secure and private communications. The Company distributes a suite of encrypted e-mails, secure messengers and secure communication tools. Sekur Private Data Ltd. sells its products through its own website, https://www.sekur.com, approved distributors and telecommunications companies worldwide. Sekur Private Data Ltd. serves consumers, businesses and governments worldwide.
About Cuentas, Inc. (OTC Pink: CUEN) (OTC Pink: CUENW) Is creating an alternative financial ecosystem for the growing global population who do not have access to traditional financial alternatives. The Company's proprietary technologies help to integrate FinTech (Financial Technology), e-finance and e-commerce services into solutions that deliver next generation digital financial services to the unbanked, under-banked and underserved populations nationally in the USA. The Cuentas Platform integrates Cuentas Mobile, the Company's Mobile Telecommunications solution, with its core financial services offerings to help entire communities enter the modern financial marketplace. Cuentas has launched its General Purpose Reloadable (GPR) Card, which includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content.
To find out more about Sekur's privacy communications solutions visit: https://sekur.com
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. These statements reflect management's current estimates, beliefs, intentions and expectations; they do not guarantee future performance. Sekur cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Sekur's control. Such factors include, among other things: risks and uncertainties relating to the future of the Company's business; the success of marketing and sales efforts of the Company; the projections prepared in house and projections delivered by channel partners; the Company's ability to complete the necessary software updates; increases in sales as a result of investments software development technology; consumer interest in the Products; future sales plans and strategies; reliance on large channel partners and expectations of renewals to ongoing agreements with these partners; anticipated events and trends; the economy and other future conditions; and other risks and uncertainties, including those described in Sekur's prospectus dated May 8, 2019, filed with the Canadian Securities Administrators and available on www.sedarplus.ca. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Sekur undertakes no obligation to publicly update or revise forward-looking information.
