Vancouver, British Columbia--(Newsfile Corp. - April 28, 2020) - Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) ("Upco") is pleased to announce that Upco Messenger has been successfully tested by Deutsche Telekom and that Upco will be added as a StreamOn "Social & Chat" Partner effective May 4, 2020. Deutsche Telekom, formed in 1995, is a German telecommunications company headquartered in Bonn, and the largest telecommunications company in Europe on the basis of revenue. Via StreamOn users with a Telekom Mobile SIM enjoy EU-wide use of the audio, video, gaming, and social media and messenger services of participating partners without using the data assigned to their contract subscription (i.e. essentially streaming without worrying about data usage).
Upco's partnership with Telekom will be communicated via their social media channels and StreamOn website, where other partners in the Social & Chat category include Facebook, Whatsapp, Instagram, Snapchat, YouTube, and Twitter.
Benefits to Upco and its users via this partnership include:
- A substantial increase Upco's visibility in countries where Telekom is providing StreamOn.
- Streaming of a wide variety of content without worrying about data consumption.
- Use of the Telekom Mobile Network for UpcoPay, which will ensure secure, reliable and rapid validation of cashless payments.
Regarding the partnership, Mr. Andrea Pagani Chief Executive Officer, Upco International Inc., commented, "This partnership is a significant achievement for UPCO and a substantial benefit to its users. It affirms the quality and reliability of our technology while substantially extending Upco's reach and marketing capabilities. StreamOn is a key step toward providing our users with accessible and affordable services through unrestricted use of audio, video and call content on the best mobile network. We are continuing to move forward with other enhancements to the Upco platform, including extension of Fintech services, while also pursuing additional strategic alliances."
BC Securities Commission Filing Postponement
With reference to sec. 10 of BCI 51-515 (Temporary Exemption from Certain Corporate Finance Requirements), Upco announces that it is postponing filing of Annual Financial Statements and MD&A for the period January 1 to December 31, 2019, due to COVID-19 related delays. The company is relying on the 45 day-filing extension from April 29, 2020, during which time, it will file the required reports.
Chief Financial Officer Position
Effective 16th of April Mr. Ruy Ivaldi, CPA, has finished his position as CFO of Upco International. Andrea Pagani is assuming a temporary CFO position.
Community Support during COVID-19
Mindful of the impacts of the COVID-19 pandemic on business and everyday life, Upco is pleased to announce that, as a benefit to the community, it will be providing free international service, on calls originating with Upco, to locations in China, the USA, Canada, India and all of Europe. Free service will continue to be offered during the present lockdown, and until further notice.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO Upco International Inc., Upco Systems Inc.
+1 (212) 461 3676
Except for the statements of historical fact, the information contained herein is of a forward-looking nature. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by statements containing forward-looking information. Such factors include continued availability of capital and financing and general economic, market or business conditions.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that statements containing forward looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on statements containing forward looking information. Readers should review the risk factors set out in the Company's Filing Statement as filed on SEDAR.
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