FORT PIERCE, Fla., June 28, 2004 (PRIMEZONE) -- Atlantic Synergy, Inc. (OTCBB:ASGY), announced today that it has signed a binding Letter of Intent with Acies, Inc., formerly GM Merchant Solutions, Inc., to purchase 100% of the shares of Acies, Inc. and Acies, Inc. will become a wholly owned subsidiary of the company in exchange for 26,150,000 newly issued treasury shares of Atlantic Synergy's common stock. Immediately after closing this transaction, it is anticipated that there will be approximately 30,763,750 shares issued and outstanding.
In connection with the acquisition, Oleg Firer will be appointed director while Mr. Terence Channon and Mr. John Wilbur will remain as directors for Atlantic.
Through this transaction, Atlantic Synergy, Inc. will change its business focus and will be engaged in the business of delivering payment processing solutions at a level unparalleled in this marketplace. In addition, Mr. Terence Channon will likely return shares to the Company for cancellation in exchange for the business operations of Atlantic Synergy. The Company will also change its name to Acies Inc.
About Acies, Inc.; formerly GM Merchant Solutions, Inc.
Acies, Inc. ("Acies") is one of the fastest growing innovative providers of payment processing solutions for retail, restaurants, direct marketing, Quick Service Restaurants (QSR), hospitality, supermarket, petroleum, financial services and healthcare industries. Through its extensive experience in payment processing, infrastructure planning and equipment deployment, Acies provides its clients with fast and reliable payment processing, superior customer support and overall cost savings. Acies understands both merchant accounts and the payment processing industry, and is committed to delivering state-of-the-art transaction processing services to support the small to large scale business initiatives of its current and future clients.
Acies has aligned itself with what it believes to be the best of the best in payment processing industry to create a Powerhouse Alliance. Acies' Powerhouse Alliance combines a wide array of payment processing solutions including: point-of-sale terminal products; Radio Frequency (RF) contactless payment solutions; signature capture; processing for credit, debit, stored-vale, gift cards, and gas cards; Electronic Benefits Transfer (EBT) transactions; Dynamic Currency Conversion (DCC); Business to Business (B2B), recurring payments, Electronic Check Acceptance (ECA) service, and one-stop e-commerce solutions.
Atlantic Synergy intends to announce more details to its revised business focus within the next two weeks as well as the details regarding the completion of the transaction. Atlantic Synergy recently filed its 10QSB making the company fully compliant and fully reporting with the Securities and Exchange Commission.
About Atlantic Synergy, Inc.
Atlantic Synergy, Inc. provides a suite of web site services, including e-business consulting, business development, hosting, and e-business research and testing services to small and medium-size businesses. The Company assists businesses to formulate comprehensive e-business strategies. Mr. Channon will continue to run the day to day operations of Atlantic as he continues to build on the company's client base. The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.
Atlantic Synergy, Inc., http://www.atlanticsynergy.com
Acies, Inc., http://www.merchantusa.net