CALGARY, Alberta, Canada July 13 /PRNewswire-FirstCall/ -- TransAKT Corp.
("TransAKT" or the "Company") (OTC Bulletin Board: TKTJF; TSX Venture
Exchange: TKT) announces today that it has entered into an exclusive sales and
distribution agreement with Manfred Schauer, Argentarius Limited ("MSAL") for
the Asia Pacific Region for its wireless point of sale terminals. Countries
covered by the agreement include but are not limited to Australia, China,
Indonesia, Korea, New Zealand, Philippines, and Singapore.
Under the terms of the agreement MSAL will be responsible for funding all
product enhancements as well as all development and marketing costs related to
the TransAKT wireless point of sale products that will be introduced into the
Region. In addition to manufacturing the hardware, TransAKT will provide the
expertise and technical training necessary to support sales and product
rollout. A new company called TransAKT Asia Pacific will be incorporated and
initially wholly owned by Manfred Schauer. In order to increase revenue
garnered from sales in the Region, TransAKT will have the right to buy 10% of
TransAKT Asia Pacific for a set price once certain sales targets are achieved.
"We see this strategic alliance with MSAL as an excellent way to expand
quickly into the Asia Pacific region without the necessity of re-allocating
resources from our North American Operations. Manfred Schauer has been active
in our business for over 2 years, his contacts in the financial sectors of the
Asia Pacific are second to none and we are extremely confident that he will be
very successful in this undertaking," commented Daniel Pomerleau, President of
TransAKT.
For over 15 years, Mr. Schauer was the Regional Treasurer of the Deutsche
Bank Group headquartered in Hong Kong. As such, he was responsible for all
treasury related activities of the Bank's offices in 13 countries in the
Asia/Pacific Region.
Contact Information:
Ted Pomerleau 1-866-690-1744 or e-mail tedp@transaktcorp.com
Rick Martens 1-800-266-4484 or e-mail rickm@transaktcorp.com
About TransAKT(TM) Corp. (http://www.transaktcorp.com)
TransAKT(TM) Corp. is a developer of mobile solutions and a leading
developer of secure wireless electronic payment and communication solutions
that add value at the point of sale for consumers, merchants and acquirers
alike. The TransAKT(TM) wireless terminal is an integrated PIN Pad secured
Point-of-Sale device that attaches to a cellular phone without impacting its
normal operation. The TransAKT(TM) terminals currently attach to Motorola's
StarTAC(R)/Timeport(TM) PCS and iDEN(R) family of mobile phones, giving
merchants the ability to easily and securely accept multiple methods of
electronic payment in the field. TransAKT(TM) Corp. is trading on the TSX
Venture Exchange under the symbol "TKT" and additionally listed on the U.S.
OTC:BB exchange under the symbol "TKTJF". For more information please visit
http://www.transaktcorp.com and http://www.transaktusa.com.
This release contains "forward looking statements" as per Section 21E of
the US Securities and Exchange Act of 1934, as amended. Although the Company
believes that the expectations reflected in such forward looking statements
are reasonable, it can give no assurance that such expectations will prove to
have been correct. Management is currently reviewing many options and there
is no assurance that they will not make decisions other than those now
contemplated. The Company is subject to operational risks identified in
documents filed with the Securities and Exchange Commission.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
This release was issued through Major Newswire
(http://www.majornewswire.com)" at the end of the release.
SOURCE TransAKT Corp.
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Related links:
http://www.transaktcorp.com
CONTACT:
Ted Pomerleau, +1-866-690-1744,
tedp@transaktcorp.com, or Rick Martens, +1-800-266-4484,
rickm@transaktcorp.com, both of TransAKT Corp.
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