Fundamental Applications Secures Designated Sponsor Agreement with Wolfgang Steubing AG Wertpapierdienstleister
VANCOUVER, BC--(Marketwired - Nov 22, 2016) - Fundamental Applications Corp. ("Fundamental" or the "Company") (CSE: FUN) (2FA.F) (OTCQB: FUAPF), a leading developer of innovative smartphone applications targeted toward millennials, announced today it has reached an agreement with Wolfgang Steubing AG Wertpapierdienstleister ("Steubing AG") to be the designated sponsor on the Xetra electronic trading platform ("Xetra") for the company.
As part of the deal to expand Fundamental's presence across Europe and Asia, Steubing AG affords additional liquidity for Fundamental to secure new investors and support the company in adhering to the rules and regulations of the Frankfurt Stock Exchange. The arrangement provides the opportunity for Fundamental to be positioned with one of the most experienced securities trading banks in Germany. As the designated sponsor, Steubing AG will act both for dividend qualifying securities and new shares, as it relates to securities trading on Xetra. Xetra has grown to account for more than 90% of all stock trades on the Frankfurt Stock Exchange and Ireland, Vienna and Shanghai are some of the numerous stock exchanges across Europe and Asia utilizing the platform.
Fundamental's CEO Brad Moore states, "We are pleased to have reached an agreement with Steubing AG, one of the most highly-regarded securities trading banks in Europe. Fundamental receives tremendous value by having Steubing AG operate as our designated sponsor, since the company can now enhance transparency and gain access to new investors."
About Fundamental
Fundamental Applications Corp. (CSE: FUN) (2FA.F) (OTCQB: FUAPF) designs, develops, markets, and acquires innovative mobile applications targeted at the "Millennials" generation, people born in an age of digital technology, internet access, and smart phones. This demographic is an early adopter of mobile technology, has significant discretionary income, and is lifestyle driven with a willingness to try new things. Fundamental's three leading mobile platforms are Foro, a peer-to-peer mobile ecommerce marketplace; Truth, a one-to-one anonymous messaging app; and Opinit, an app that enables users to create and share emotion driven content.
To learn more about Fundamental Applications Corp., please visit www.FunAppCorp.com, or review its company profile on the SEDAR website (www.sedar.com) and on the CSE website (www.thecse.com).
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Fundamental. Forward-looking information is based on certain key expectations and assumptions made by the management of Fundamental. Although Fundamental believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Fundamental can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Fundamental disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
