Montreal, Quebec, Nov. 15, 2018 (GLOBE NEWSWIRE) -- APPx Group Holdings, Inc. (CSE: APPX)("APPx") a Canadian FinTech incubator announced today that it has entered into a non-binding letter of intent (LOI) with GateHub Ltd. for a 5-year full partnership agreement in which APPx will own the rights to GateHub in Canada. The price will be determined by APPx’s legal counsel upon completion of a 30-day period of due diligence.



GateHub Ltd. is a United Kingdom and Slovenian-based financial technology company that has designed and built proprietary infrastructure for a global internet of value. GateHub utilizes distributed ledger technology to serve a global users base through a proprietary platform that has been operating since 2014.



The platform offers the leading consumer wallet system that allows users to interact with Ripple’s XRP Ledger with different asset types (BTC, XRP, EUR, USD, GOLD, ETH, ETC, DASH).



Under the terms of the agreement, GateHub Ltd will grant an exclusive license for use of GateHub’s intellectual property within Canada and allow for the localization and expansion of the GateHub platform.



“We add value to GateHub Ltd.’s extensive experience in the cryptographic asset vertical. As part of the group, we have a great opportunity to quickly and flexibly help GateHub Canada localize, grow and develop the business,” said Jay Ruckenstein, President of APPx.



“GateHub’s software and IP have set us ahead in the global marketplace. Our Canadian users are the explorers, early adopters and talented developers” says Steven Rogalsky GateHub Ltd.’s Chief Product Officer who will be coming on board the APPx team. “I’m excited to see what the Canadian development community will do with our API’s, there are a lot of exciting projects happening in Europe that we are bringing to Canada to modernize the local payment systems.”



About APPx Group Holdings, Inc.

APPx Group Holdings, Inc. is a Fintech incubator that offers technology-based business solutions. Our growing partnership network allows us to service a wide range of markets: advertising, blockchain, crypto, fintech, and telecommunications products and services.



With our strong reach, we’re consistently adding to, and enhancing, our portfolio. We strive to be industry leaders, creating innovations engineered from the ground up by our diverse culture of talent. APPx delivers sustained value by strategically solving our customers' immediate and long-term needs, helping them reach their goals on a global scale.



About GateHub Limited

GateHub is a UK based company founded in 2014. GateHub is building a global consumer financial network based on Ripple (scalable to other protocols) and will provide a robust platform for smart contracts and other applications coming in the next wave of Fintech development. We aim to enable individuals and businesses to take part in the upcoming Internet of Value, and to have more fun, ease of use, financial control, and safety.



GateHub Fifth is GateHub’s gateway for cryptocurrencies, currently serving as the gateway for Ether (ETH and ETC), Augur REP, Bitcoin, BitcoinCash and Dash. GateHub Fifth services are managed by GateHub Ltd.



Forward-looking Information

This news release includes forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although APPx believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. These factors include, among others, the risks associated with the failure to execute any of APPx's current or anticipated projects or transactions. Although management of APPx has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information APPx does not assume any obligation to update any forward-looking information except as required under the applicable securities laws. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Rahim Mohamed APPx Group Holdings, Inc. 833-777-2779 RM@appxgroup.com Jay Ruckenstein APPx Group Holdings, Inc. 833-777-2779 jay@appxgroup.com