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NetCents Technology hires two communications firms for media services

The online payment processor will pay monthly fees to Market IQ Media and Axe Communications in the form of cash or stock
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NetCents focuses on using blockchain to capitalize on the migration to digital currency from cash

Online payment processor NetCents Technology Inc (CNSX:NC) (OTCMKTS:NTTCF) has hired Market IQ Media Group Inc and Axe Communications Inc to provide media consulting, digital media campaigns and multimedia services.

NetCents said in a press release Friday that it will pay Victoria, British Columbia-based Market IQ monthly fees of C$35,000 in cash plus applicable taxes or 25,000 common shares of the company.

It will pay Gloucester, Ontario-based Axe C$15,000 in cash plus applicable taxes or 10,714 common shares. The agreements will span 12 months beginning November 1, and the stock will have a deemed price of C$1.40 per common share.

READ: NetCents Technology plans to expand merchant online payment processing to 60 countries

Vancouver-based NetCents added that it has chosen to pay Market IQ and Axe in the form of shares for the month of November. Neither Market IQ nor Axe currently has any common shares or any direct or indirect interests in NetCents, according to the company.

The consulting agreements are subject to approval by the Canadian Securities Exchange.

Shares of NetCents were unchanged at C$0.93 in Friday’s Canadian trading.

NetCents focuses on using blockchain to capitalize on the migration to digital currency from cash. It said last week that it plans to expand merchant online payment processing to 60 countries.


Contact Dennis Fitzgerald at [email protected]

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