SAN FRANCISCO - December 31, 2013 - Merriman Capital, Inc. ("Merriman"), a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced today that it has been retained as Capital Markets Advisor to Net Element, Inc. ("the Company") (NETE).
Merriman will provide Net Element with corporate brokerage services and advice on the effective engagement of a broader institutional shareholder base, financing solutions, and strategies for organizing their capital structure. Merriman`s Capital Markets Advisory Group clients also benefit from access to unique capital solutions and the implementation of various public markets initiatives.
Net Element is a U.S. based global technology company that specializes in mobile payments and value added transactional services in emerging countries and the U.S. The company owns and operates a global mobile payments and transactional processing holding company called TOT Group. TOT Group`s companies include Unified Payments, which focuses on payment processing, Aptito, which focuses on value-added services, and TOT Money, which focuses on mobile payments. Net Element is based in Miami, Florida, with international headquarters in Moscow, Russia and operations in Ukraine and Kazakhstan.
"We are excited to begin working with Merriman to diversify our shareholder base and to drive interest in our unique vision for Payments Innovation across the globe," commented Oleg Firer, CEO of Net Element. "We selected Merriman after an exhaustive search due to their track record in the payments space and their understanding of emerging markets."
"Net Element is an exciting addition to the Capital Markets Advisory Group," commented Douglas Rogers, Managing Director and Head of the Capital Markets Advisory Group at Merriman. Doug continued, "We believe the Company could be positioned for strong growth with its payment technologies, geographical reach in emerging markets and pipeline of strategic acquisitions. The Capital Markets Advisory Group will offer Net Element`s management team with a range of services including market insight, corporate brokerage services as well as strategic advice and access to capital solutions."
About Merriman Capital, Inc.
Merriman Capital, Inc. is a full service investment bank and Broker-Dealer that facilitates efficient capital formation through a proprietary digital network, as well as Capital Markets Advisory and comprehensive Corporate Brokerage services for public and private companies. The firm also provides equity and options execution services for sophisticated investors and differentiated research for high growth companies. Merriman Capital, Inc. is a wholly owned brokerage subsidiary of Merriman Holdings, Inc. (MERR) and is the leading advisory firm for publicly traded, high-growth companies.
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About Net Element
Net Element (NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services. The company owns and operates a global mobile payments and transaction processing provider, TOT Group. TOT Group companies include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Private Company in America in 2012, Aptito, a next generation cloud-based point of sale payments platform, and TOT Money, which has a leading position in Russia and has been ranked as the #1 SMS content provider by Beeline, Russia`s second largest telecommunications operator. Together with its subsidiaries, Net Element enables ecommerce and adds value to mobile commerce environments. Its global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States strategically position the company for continued growth. The company has U.S. headquarters in Miami and international headquarters in Moscow. More information is available at www.netelement.com.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on November 14, 2013. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on November 14, 2013, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
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Merriman Capital, Inc.
Chief Compliance Officer
Merriman Capital, Inc.
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Source: Merriman Holdings Inc. via GlobeNewswire