- Patrick
Bertagna, CEO of GTX Corp, says the new financing will be used to position
the company for future growth, execute initiatives and pay down some debt
- The
financing is secured at a 10x valuation of current trading price; the
company has already received its first tranche and plans to draw down
additional tranches over the next 12 months
- GTXO
Corp is a pioneer in wearable GPS human and asset tracking systems; it
recently debuted new GPS trackers for children, the patented GPS SmartSole
size small, and the Invisabelt
GTX Corp (OTC: GTXOD) terms a confluence of financial
events, including its proposed uplisting, reverse split and $1 million in
premium-to-market financing from a new strategic partner, as a turning point
and milestone for the company’s stakeholders (http://ibn.fm/OVgna).
The reverse split of the stock was approved and made
effective by FINRA in early July. Temporarily, the company’s trading ticker
symbol will be ‘GTXOD’, but in the near future, after all trading platforms
have been updated, the company’s ticker symbol will return to ‘GTXO’. GTX Corp
is also in the process of uplisting to the OTCQB Venture Exchange (http://ibn.fm/8ENle).
“We are thrilled to announce securing a new strategic
partner that recognizes the true value of GTX Corp and is providing capital at
a premium to market, along with business and corporate development services,”
Patrick Bertagna, GTX Corp CEO, stated in a news release.
Los Angeles, California-based GTXOD develops and markets
two-way GPS tracking technologies for real time tracking and monitoring of
people or high value assets through a wireless gateway, transceiver module,
smartphone app and IoT portal. GTXOD’s tracking devices and services are
offered in a global market, providing smart and wearable GPS tracking products
across 35 countries.
These products can also be used to identify the location of
wanderers — the elderly, people with Alzheimer’s, dementia patients and those
with traumatic brain injury. Now, that technology can be used for children, as
well. GTX Corp has released two new GPS products to safeguard the location of
kids. They are the patented SmartSole® size small and the GPS Invisabelt for
toddlers and kids. The Invisabelt is offered in two waist sizes, S/M and M/L,
and it is available in sport grey and heather pink (http://ibn.fm/3qfde). The
company said that the products sold out within days of their introduction to
the market.
For more information, visit the company’s website at www.GTXCorp.com
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www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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