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CDFI DreamSpring Uses Global’s Subsidiary, R3 Score, to Underwrite Loans for Entrepreneurs

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BALTIMORE, MD, Jan. 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Global Boatworks Holdings, Inc. (OTC: GBBT), ("Global" or "the Company") today announced that the first lender, DreamSpring, is leveraging R3 Score’s proprietary data-driven scoring tool to underwrite loans for people with criminal records. DreamSpring, founded in 1994, offers business loans along with training, networking, and other support services to those who own or want to start a business.

Last year R3 Score, the operating subsidiary of GBBT, launched a pilot with Community Development Financial Institutions (CDFIs) to lend to people with criminal records. “Today entrepreneurs with records are able to access capital to grow their businesses because of this partnership,” said Laurin Leonard, R3 Holdings, Inc., CEO, and Co-Founder. “The Company is committed to playing an active role in expanding the number of loans to well-deserved and qualified entrepreneurs with criminal histories and believe CDFIs will be instrumental in helping us reach this goal.”

“While it may have been challenging to find the bright spots for which to celebrate in 2020, I am thankful that we were able to provide an infusion of capital to Phoenix-based Justice Java prior to Thanksgiving. Personally, I am beyond thrilled that the first recipient of this restorative program was right in our backyard,” says Michael Langley, Community Lending Officer of DreamSpring.

“By hiring other formerly incarcerated individuals, their business has a meaningful opportunity to amplify the economic impact on a larger scale. The partnership with the Association Enterprise Organization (AEO) and R3 Score has given us the confidence to remove barriers to successful small business ventures in the future. We are proud to do our part to help enfranchise returning citizens and excited about the potential to serve others across our 17-state market,” added Langley.

About Global Boatworks Holdings, Inc. and R3 Holdings, Inc.

Global completed a definitive Share Exchange Agreement with Baltimore, Maryland-based R3 Technologies, Inc. on September 23, 2020. R3 Holdings, Inc. is a SaaS company that provides a more contextualized criminal background report and alternative credit score for use by businesses of all sizes and in every industry. R3’s AI-enabled, financial software platform uses proprietary data-driven scoring designed to unlock new valuable information about employees and financial services consumers utilizing a multi-factor algorithm based on 11 factors assessing character, capacity, and current choice. To learn more about R3 Score, visit www.R3Score.com.

About DreamSpring

Founded in 1994 and serving 17 states, DreamSpring is a nonprofit organization that increases access to business credit, makes loans, and provides training to enable entrepreneurs to realize their dreams and be catalysts for positive economic and social change. DreamSpring is dedicated to helping entrepreneurs and business owners generate income, build assets, create jobs, and achieve financial success through business ownership. The organization offers business loans from $1,000 to $2 million, along with training, networking, and other support services to those who own or want to start a business. For more information about DreamSpring, visit https://www.dreamspring.org.

Forward-Looking Statements

This press release may contain “forward-looking statements.” Forward-looking statements reflect the current view about future events. When used in this presentation, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements include, but are not limited to, statements contained in this presentation relating to the view of the management of R3 Score Technologies, Inc. (the “Company”) concerning its business strategy, future operating results, and liquidity and capital resources outlook. Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you, therefore, against relying on any of these forward-looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.


Laurin Leonard, CEO R3 Holdings, Inc.


Investor Relations Contact:

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Kevin McGrath