Vancouver, British Columbia, Canada, July 8, 2016 - Fundamental Applications Corp. (“Fundamental” or “the Company”) (CSE:FUN), a leading developer of innovative smartphone applications targeted toward millennials, announces that it has settled debt in the amount of $9,500 in exchange for the issuance of 43,182 shares to one creditor. The debt settlement is based on a deemed price of $0.22 per share. No warrants were issued in connection with the debt settlement.
All securities issued in connection with the settlement will be subject to a hold period of four months plus a day from the date of issuance, in accordance with applicable securities legislation.
About Fundamental Applications Corp.
Fundamental Applications Corp. (CSE:FUN FSE:2FA, OTCQB: FUAPF) designs, develops, markets, and acquires innovative mobile applications targeted at the “Millennials” generation, people born in an age of digital technology, internet access, and smart phones. This demographic is an early adopter of mobile technology, has significant discretionary income, and is lifestyle driven with a willingness to try new things. Fundamental’s three leading mobile platforms are Foro, a peer-to-peer mobile ecommerce marketplace; Truth, a one-to-one anonymous messaging app previously listed in the top 100 social networking apps in the Apple App Store; and Serum™, an app that enables users to post questions to their friends and receive answers anonymously.
For more information about Fundamental Applications Corp., visit online at www.FunAppCorp.com, or review the Company’s profiles on the SEDAR website (www.sedar.com) and on the CSE website (www.thecse.com). To schedule an interview, please contact:
Chief Executive Officer
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Fundamental. Forward-looking information is based on certain key expectations and assumptions made by the management of Fundamental. Although Fundamental believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Fundamental can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Fundamental disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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