News

Canada's E-Debit announces plans to expand ISO network

September 18, 2011

E-Debit Global Corp., a financial holding company in Canada, today announced to its shareholders at its annual general meeting in Calgary, Alberta, that it plans to expand its national ATM and point of sale ISO network.

"After a review by the board of directors on Friday, Sept. 16,  the company announced today at its AGM that it had entered into a Memorandum of Understanding to expand and grow the automated banking machine, POS and related businesses in North America," E-Debit Chief Executive Doug Mac Donald said in a statement.

Terms and conditions of the MOU are currently covered by a confidentiality agreement during a 60-day exclusivity period, which the parties have agreed to in order to ensure completion of due diligence, according to a statement.

"We are confident after the meetings of the parties at our board meeting that all parties are willing and quite capable of meeting the requirements outlined in the MOU and hopefully we can move forward operationally prior to the end of the lock up term, as this is a significant development in the expansion of our business operations," said Mac Donald.

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