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CALGARY, ALBERTA--(Marketwired - Jan 22, 2016) - Vogogo Inc. (TSX VENTURE:VGO) ("VGO") today announces that a statement of claim has been filed against VGO in Alberta Court of Queen's Bench Action Number 1501-14652 by Axiom Foreign Exchange International.
The claims are in reference to a business combination agreement dated September 10, 2013 between Redfall Technologies Inc. and Axiom Foreign Exchange International ("Axiom"). Redfall Technologies Inc. terminated the agreement, as per the terms of the agreement, on December 21, 2013.
Axiom alleges that Geoff Gordon, while representing Redfall Technologies Inc., conspired to terminate the agreement in a manner that breached the terms of the agreement in order to pursue an alternate business opportunity for Redfall Technologies Inc. The claims seek damages for, among other things, expenses incurred by Axiom from the business combination agreement in the amount of $225,000 as well as proposed lost opportunity damages to Axiom in excess of $4,000,000.
Vogogo contends that the claim is completely without merit and will vigorously defend the action.
About Vogogo Inc.
Vogogo is a TSX Venture Exchange ("TSXV"), publicly traded, risk management and payment services company. Founded in 2008, Vogogo designed, built and launched its automated risk management and payment processing technology while continuing to grow its expertise in software development, technology, banking, compliance, payments and transactional risk management. Vogogo is now executing on its plan to offer its services to key global markets. The plan focuses on market opportunities where Vogogo believes it has a competitive advantage due to its experience, positioning and technology.
For further company information please view the Vogogo Media Kit
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
None of the information contained on, or connected to, Vogogo's website is incorporated by reference herein.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Vogogo. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Vogogo. Vogogo does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws. See Vogogo's Annual Information Form for the year ended December 31 st , 2014 and its Management's Discussion and Analysis for the three and nine month periods ended September 30 th , 2015 for a detailed discussion of risk factors.
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