TORONTO, Oct. 24, 2017 — Peeks Social Ltd. (TSXV:PEEK) (OTCQB:PKSLF) (“Peeks Social” or “the Company”) announces that the Peeks Social platform will begin accepting Bitcoin amongst other cryptocurrencies as a payment option within Peeks Social.
Technical planning is complete and the Company is now confident that it can integrate Bitcoin and other cryptocurrencies in a manner that will be financially beneficial to the Company and provide users with a wider variety of payment options. Since cryptocurrency purchases are not subject to payment processing fees, the addition of cryptocurrency transactions are expected to reduce the aggregate payment processing fees currently associated with processing payments within the Peeks Social platform. In-app payments are subject to a 30% payment processing fees from their respective app stores. Additionally, cryptocurrency payments are expected to increase the number of purchases in Peeks Social as a result of providing users with increased anonymity when making purchases within the service.
For further information, please contact:
|Peeks Social Ltd.|
|Mark Itwaru||David Vinokurov|
|Chairman & Chief Executive Officer||Director Investor Relations|
Neither the TSX Venture Exchange nor its Regulation 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.
The information and statements in this news release contain certain forward-looking information relating to the development and deployment of certain functionalities of the Peeks Social service, including assumptions regarding third party adoption and use. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. Peeks Social Ltd.’s forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, Peeks Social Ltd. undertakes no obligation to publicly update or revise any forward-looking information.