April 19, 2018
TessPay is thrilled to announce it will participate as an exhibitor at International Telecoms Week (ITW) May 6th to 9th 2018 at the Hyatt Regency & Swissotel in Chicago, Illinois.
ITW holds an annual meeting that draws global wholesale telecom industry giants from more than 140 countries around the globe. Delegates from the telecom industry have the opportunity to network, exchange ideas and explore new and emerging technologies in the ever growing and changing telecommunications industry.
An exciting change is coming to the wholesale telecom industry!
TessPay will have a team of senior representatives at ITW to meet with leaders in the telecom industry and introduce the exciting new TessPay Smart Contract payment settlement system that will revolutionize the way the wholesale telecom industry does business.
TessPay will operate a private permissioned blockchain solution that combines Smart Contracts and Automated Payments to guarantee daily settlements for wholesale telecom carriers. All transactions will take place in fiat currencies in a secure environment.
Our business system features liquidity, payment assurance, lower fees, and lower costs with an integrated VOIP switch. An easy-to-use customer portal means carriers are seamlessly interconnected with their business partners and never have to deal with late payments or defaults.
The TessPay solution guarantees you get paid On Time, Every Time!
For media inquiries or to book an in-person meeting at ITW, please contact:
Manager, Corporate Communications
Phone: +1 416.400.5633
TessPay Reaches Out at Mobile World Congress
Toronto,Canada. TessPay will attend the Mobile World Congress in Barcelona.
Mobile communications drive many of the world’s major technology breakthroughs. From wearable devices to connected cars and homes, mobile technology is at the heart of worldwide innovation. The 2018 GSMA Mobile World Congress convenes industry leaders, visionaries and innovators to explore the trends that will shape mobile communications in the years ahead.
TessPay will have a sales team at this event to meet with senior leaders of the telcos and introduce the TessPay Smart Contract payment settlement system.
Our introduction to the industry is appended to this news release.
February 12, 2018
Tess Inc. Announces an Agreement with IBM to Develop a Private Permissioned Hyperledger Blockchain
Toronto, Canada Tess Inc. has entered into an agreement with IBM to assist in development of a private permissioned Hyperledger Fabric I blockchain, which together with TessPay Smart Contracts constitute the core of its Wholesale Telecom Transaction Escrow Settlement Service. Hyperledger Fabric 1 is a blockchain framework implementation, hosted by The Linux Foundation. The TessPay blockchain will be constructed in concert with IBM, one of the major contributors to the Hyperledger project. The network will be highly scalable with consensus and integrity securely maintained by at least 50 nodes, operated, in many cases, by Major Carriers as part of their technology infrastructure.
January 22, 2018
Tess Inc. Announces a Marketing and Business Development Agreement with M37 Ventures, Inc.
Toronto, Canada Tess Inc. has entered into an agreement with M37 Ventures, Inc. to assist in the market development of its Wholesale Telecom Transaction Escrow Settlement Service for that industry.
M37 Ventures is a next-generation consulting and business solutions company that helps domestic and international organizations harness the power of technology to propel their brands and businesses aggressively into the future. Robert Strickland, founder and CEO, will work directly with the Company to accelerate market development of the Tesspay Smart Contract secure payment system for telecos transmitting long distance voice calls using VOIP technology.
January 17, 2018
TessPay Enters Definitive Agreement for Transaction with Publicly Traded Cresval Capital Corp.
Toronto, Canada Tess Inc. today announced that it has entered into a definitive agreement (the "Agreement") to complete a transaction with Cresval Capital Corp. ("Cresval"). After the closing of the anticipated transaction and subject to the terms and conditions of the Agreement, Tess expects its shares to be publicly traded on the TSX Venture Exchange (the "TSXV") and change its name to "TessPay Inc." ("TessPay").
The Agreement provides that each share of Tess will be exchanged for common shares of TessPay on the basis of 15.36 TessPay shares for every one Tess share. Tess will be issued 80,000,000 TessPay shares for a 90% interest in the resulting issuer. Cresval will be issued 8,400,000 TessPay shares, which will be distributed pro rata to shareholders of Cresval as part of the transaction. One of the conditions of the proposed transaction includes Tess completing a private placement financing of CAD $3,500,000 in the form of an unsecured convertible note at CAD $0.10 per share into TessPay. Holders of the note will be entitled to receive 35,000,000 TessPay shares upon conversion.
The parties expect that the proposed transaction can be completed by the 2nd quarter of 2018. No assurance can be given that the proposed transaction will be consummated, or that the combined company will be able to obtain adequate funds needed to fund its business plan.
Dec. 11, 2017
TessPay Signs Letter of Intent for Merger with Publicly Traded Cresval Capital Corp
Tess Inc. ("Tess") today announced it has entered into a non-binding letter of intent ("LOI") to merge with Cresval Capital Corp. ("Cresval") (TSX-V: CRV). TessPay is a blockchain company developing a supply chain payment platform for businesses to attempt to guarantee payment on time and in full. After the closing of the anticipated merger, TessPay will be publicly traded on the TSX Venture Exchange (the "TSXV") and change its name to "TessPay Inc.".
The LOI provides that TessPay will be issued 80,000,000 shares of Cresval, and the present shareholders of Cresval will retain 8,400,000 shares of the combined company TessPay post-merger. Riot Blockchain will receive 41,600,000 shares resulting from its 52% ownership of TessPay.
Assuming that TessPay and Cresval enter into a definitive agreement, the parties expect that the merger can be completed by the 2nd quarter of 2018. No assurance can be given that a definitive agreement will be entered into, that the proposed merger will be consummated, or that the combined company will be able to obtain adequate funds needed to fund its business plan. The merger would be the first of Riot Blockchain's investments to become a stand-alone public company. Haywood Securities Inc. acted as a financial advisor on the transaction.
Jeff Mason, Chief Executive Officer of TessPay, stated, "The decision to take the company public provides us access to traditional capital markets as we continue developing our blockchain technology solution. This environment will also foster transparency and accountability moving forward, providing confidence to investors and prospective customers alike."
The blockchain is a decentralized and encrypted ledger that offers a secure, efficient, verifiable and permanent way of storing records and other information without the need for intermediaries. These protocols are the backbone of numerous digital currencies, including Bitcoin, Ethereum and Litecoin. Blockchain protocols have a wide range of use, including processing transactions, accounting, verification and proof of ownership across a far-reaching spectrum of applications.
Cresval was incorporated under the laws of British Columbia, and its common shares are listed on the TSX Venture Exchange under the symbol “CRV”. The Company’s business is the exploration for mineral resources. The Company does not currently have any ongoing exploration operations, and its material assets are mineral claims comprising the Copper Mineral Claims (now known as the “Mike Claims”), New Raven Claims, and the Aumax Claims, all located in British Columbia.