Weyland Tech, Inc. (OTCQB: WEYL) Sources Strategic Investment for Expansion into Indonesia
HONG KONG–(Marketwired – Jul 26, 2017) – Weyland Tech, Inc. (OTCQB: WEYL) (the “Company”) entered into an advisory agreement with TMC Prime Pte. Ltd (TMC) to secure strategic investments by Southeast Asian technology companies and high-net-worth individuals with experience investing in technology firms.
TMC will commit to fund up to $10 million USD over a period of one year via direct investments into Weyland Tech.
The funds are intended to be used for expansion and pilot programs aimed at exploiting the huge potential in the rapidly expanding Indonesian mobile commerce (m-commerce) market.
The principals of TMC are former founders and executives of regionally based systems integrators, cloud services and mobile telephony companies.
Matthew Brent, Head of Strategic Development/Productization at Weyland Tech commented: “Indonesia is quickly becoming one of the most important emerging markets in the world, driven in large part by the high rate of mobile adoption and increasing e-commerce participation. We’re very excited about the opportunities that this strategic funding opens up for us as we continue to pursue our mobile-first approach through partnerships, strategic investments, and acquisitions across the region.”
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements.” The statements regarding the continued growth of the mobile app segment and the ability of the Company to continue its expansion into that segment and the ability of the Company to attract customers and partners and generate revenues. Often these forward-looking statements are identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). Expressly, all forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.