Voleo Provides Corporate Update
Voleo Provides Corporate Update
July 24, 2020
VANCOUVER, CANADA, Voleo Trading Systems Inc. (TRAD: TSX-V, VLEOF: OTC-QB) (“Voleo”,
the “Company”) announces that it has now completed the additional cost savi ng initiatives as set out in
its press release dated May 7, 2020.
Its technology platform remains operational and a complete tech nical analysis of Voleo’s software
ecosystem has been undertaken by Convergence Concepts (the “Con vergence Technical Report”).
Voleo’s repositories, access management and architecture have a ll been reviewed, along with security,
development operations and administrative functions. The Convergence Technical Report identifies that
Voleo’s intellectual property is secure and can be quickly deployed into a fresh, new environment.
Voleo user data collected over the past three years provides am ple evidence of trading behavior and
demonstrates the value of the platform as a transactional and/o r subscription service. Among the
attributes of users: nearly half were women, more than two-thir ds contributed money to their accounts
each month, and clubs grew from an average of six members at la unch to an average of ten once they
had been established for more than 6 months. As a tool for cus tomer engagement and acquisition, the
Voleo platform would be an asset to any financial institution. The team worked diligently to ensure an
orderly transfer process for clients, and the US broker dealer wound down operations as of June 30,
2020. To avoid further costs associated with registration, the necessary filing has been made to terminate
Voleo USA Inc’s FINRA membership. Efforts are now underway to pursue repurposing of the technology
into gaming and gambling to maximize the potential of the techn ology without the associated regulatory
burden of being a regulated securities broker dealer. In addition, new business opportunities are presently
being evaluated by the Board of Directors.
The Company also announces that it has issued a total of 940,000 stock options to directors, officers and
consultants, with the stock options exercisable at $0.075 for a five-year period.
For further details please refer to the Company’s press release dated May 7, 2020.
About Voleo Trading Systems Inc.
For more information on Voleo, please visit our Investor Relations website at ir.myvoleo.com.
ON BEHALF OF THE VOLEO BOARD
“Mark Morabito”
Executive Chairman
For further information regarding this press release, please contact:
Voleo Investor Relations
+1-604-681-8030
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Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward-looking statements and forward-looking information (collectively referred to herein
as "forward-looking statements") within t he meaning of applicable Canadian securities la ws. Such forward-looking statements rel ate to future
events or Voleo Trading Systems Inc’s (the “Company”) future performance, the wind-up of US operations, and the future use of its technology.
All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not
always, identified by the use of words such as "seek", "antic ipate", "budget", "plan", "continue", "estimate", "expect", "forec ast", "may", "will",
"project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known
and unknown risks, uncertainties and other factors that may cause ac tual results or events to differ materially from those anti cipated in such
forward-looking statements. Voleo believes the expectations reflected in those forward-looking statements are reasonable but no assurance can
be given that these expectations will prove to be correct and such forward-looking statements included in this release should not be unduly relied
upon. These forward-looking statements speak only as of the date of this release, or as of the date specified in the documents incorporated by
reference into this release, as the case may be. In particular, this release contains forward- looking statements pertaining, bu t not limited to:
expectations as to future operations of the Company, future ma rket trends, growth opportunities, the Company’s go to market strategy, future
partnerships, global uncertainty as a result of COVID-19, ne w initiatives and innovations of the Company, product offerings, th e expected
operations and performance of the Company’s business, potential verticals for use of the Company’s product, and the timing of key development
milestones.
With respect to forward-looking statement s contained in this release, the Company has made assumptions regarding, among other t hing: the
accuracy, reliability and applicability of t he Company’s business model; the timely receipt of governmental approvals, includin g the receipt of
approval from regulators in Canada and the United States; the impact of COVID-19 on the Company’s operations; the timely commencement of
operations by the Company and the success of such operations; t he ability of the Company to implement its business plan as inte nded; the
legislative and regulatory environments of the jurisdictions where the Company will carry on business or have operations; the i mpact of
competition; and the availability of financing to execute the business plan. The Company has included the above summary of assumptions and
risks related to forward-looking statements pr ovided in this release in order to provi de investors with a more complete perspec tive on the
Company’s current and future operations and such information may not be appropriate for other purposes.
The live Voleo platform is currently limited to U.S. residents. Investors should be aware that investing through clubs requires that members of a
club vote in accordance with the conditions of their respective partnership agreemen ts, and that other factors including platfo rm performance,
execution price, order and account access ti mes are affected by many factors, includi ng connectivity, market volatility, the si ze and type of
order(s), market conditions, system performance, and other factors. Investors should carefully consider the risk profile of ETFs before investing
in them, and read the prospectus from the issuer before inve sting in an ETF. Penny stocks may trade infrequently, which means t hat it may be
difficult to sell penny stock shares once you own them. Moreover, because it may be di fficult to find quotations for certain pe nny stocks, they
may be difficult, or even impossible, to accurately price. For these, and other reasons, penny stocks are generally considered speculative
investments. Consequently, investors in penny stocks should be prepared for the possibility that they may lose their whole investment.
Readers are cautioned that the foregoing lists of factors are not exhaustive and it would be unreas onable to rely on any such f orward-looking
statements and information as creating any legal rights, that the statements and information are not guarantees and may involve known and
unknown risks and uncertainties, and that actual results may differ (and may differ materially) and objectives and strategies may differ or change
from those expressed or implied in the forward-looking statements or information as a result of various factors. The forward-looking statements
contained in this release are expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company is
not under any duty and do not undertake any obligation to publicly update or revise any forward-looking statements after the date of this release
or to conform such statements to actual results or to changes in the Company’s expectations and the Company disclaims any intent or obligation
to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Re gulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.