SAN DIEGO, CA / ACCESSWIRE / August 17, 2016 / Global Payout, Inc. (OTC Pink: GOHE) announced today that following its board resolution, Global Payout has acquired a controlling interest in ISBC Holdings Ltd., the sole management company for International Sovereign Banking Corporation (ISBC). A definitive agreement has been signed by both parties for Global Payout to acquire 80.667% of ISBC Holdings Ltd. in exchange for 278,180,804 shares of Global Payout's restricted common stock. As the parent company of ISBC Holdings Ltd., Global Payout will now assist in the final formation and capitalization of its Private Banking Structure. This acquisition brings together an international private banking structure with cloud based banking technologies allowing individuals, enterprises and governmental organizations to more efficiently and securely process international financial transactions. In the next couple of days Global will also be announcing the addition of new board members.
"The completion of this acquisition will now allow ISBC Holdings and Global Payout to officially join their teams to complete the final legal formation, capitalization and deposit products needed to launch this highly innovative Private Banking Institution," says James Hancock, CEO, Global Payout, Inc.
"This acquisition will bring FinTech technology to this international private banking structure that will afford the opportunity to generate for its depositors a higher rate of return than most public commercial banks currently offer," says Doug Miller, CEO, ISBC Holdings Ltd.
About Global Payout:
Global Payout, Inc., www.globalpayout.com, headquartered in San Diego, California, is a Program Manager providing both project management advisory services and direct account provisioning systems that can be offered through Global's eWallet platforms, digital currency management, and prepaid debit card bank programs located throughout the world. This enables end-users of the platform to maximize an expanded suite of financial services and minimize operational costs through integration of state-of- the-art FinTech applications and platforms.
About ISBC Holdings, Ltd.:
ISBC Holdings, Ltd. (ISBC Holdings) is a domestic and international bank management company acting as the sole manager of International Sovereign Bank Corporation (ISBC), a private international bank. ISBC is a privately owned Sovereign Nation Bank to be held on the Sovereign Tribal land of the Wakpamni Lake Community, Oglala Sioux Tribe located at the Pine Ridge Tribal Reservation in South Dakota. ISBC Holdings has entered into an irrevocable Operations Management Services Agreement with International Sovereign Bank Corporation for a term of 100 years to manage bank products, services and operations. ISBC Holdings has been established as an off-shore company based in Hong Kong and domestically in Nevada, with administrative offices in San Diego and Orange County, California.
Forward-Looking Statements Disclosure:
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will" and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.
Global Payout, Inc.
SOURCE: Global Payout, Inc.