FNDS3000 Corp Announces Agreement for Financing and Launches Mobile Banking Initiative

JACKSONVILLE, Fla., Nov. 5 /PRNewswire-FirstCall/ -- FNDS3000 Corp (OTC Bulletin Board: FDTC) (Frankfurt: "FT4," A0MWLG) announced today the completion of a non-brokered private placement financing agreement in which the Company will potentially raise up to $1.5 million through the issuance of its common stock and warrants to Sherington Holdings, LLC ("Sherington"). The Company also announced today the launch of a mobile banking initiative for which a company associated to Sherington will contribute the services of a consultant in mobile software platforms to assist the Company over the next year. The parties have valued the contribution at approximately $250,000.

The Company anticipates two closings, the first of which occurred on November 2, 2009, and the material terms of the financing agreements are outlined in Form 8-K filed with the Securities and Exchange Commission today. Details of the first financing close included a sale of 3,333,333 shares of common stock at $0.15 per share to Sherington for total funds received by the Company of $500,000 on November 2, 2009. In addition, for each share purchased, Sherington received a warrant to purchase one share of the Company's common stock exercisable at $0.175 per share for 24 months from the date of closing of the private placement.

Details of the second financing closing include a sale of 6,666,667 shares of common stock at $0.15 per share to Sherington for total funds to be received by the Company of $1,000,000 on or about November 30, 2009. For each share purchased, Sherington will receive a warrant to purchase one share of the Company's common stock exercisable at $0.175 per share for 24 months. As is standard, the second closing is subject to various closing conditions and we cannot provide any guarantee that we will successfully close the second portion of the financing.

The Company will utilize the proceeds of the financing (i) to enhance our product offering and provide our customers with additional functionality; (ii) to purchase, license or develop mobile banking software and to develop mobile banking solutions for the Company's customers; and (iii) for general corporate purposes and working capital, all as authorized from time to time by the Company's Board of Directors. We expect to update investors within the month on the progress of the prepaid card operations in South Africa.

The Company offered and sold the common stock and warrants in the first closing to Sherington, a qualified accredited investor, in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended, and therefore the transaction has not been registered under the Securities Act or any state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

About FNDS3000 Corp: FNDS3000 Corp (OTC Bulletin Board: FDTC) (Frankfurt: "FT4," A0MWLG) is a financial transaction processing service company. Since its inception, its focus has been on the development and implementation of a variety of prepaid card programs outside the United States, including services to individuals who lack access to conventional banking services. FNDS3000 meets a vital need of companies that have financial dealings with such individuals by offering prepaid cards that can be tailored to the differing requirements of each customer. FNDS3000 intends to provide these services in both developed and underdeveloped nations through a proven U.S. processing platform that has been designed for international and cross border capability. Many of these FNDS3000 products carry worldwide brand marks and can be used anywhere that accepts these brands. Programs that can be supported include payroll, insurance, medical aid, gift cards, prepaid cellular charges and small-scale international transfers of funds.

Forward Looking Statements
Matters discussed in this press release contain forward looking statements as defined under the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risk and uncertainties, which could significantly impact the actual results, performance, or achievements of the Company. Such risks and uncertainties include, but are not limited to, the potential loss of our relationships with each of the parties that sponsor our cards and banks that manufacture, issue, and own the cards; the loss of our service providers; security breaches of our electronic information; the inability to raise sufficient capital to fund its operations; and other risks as may be detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise its forward looking statements even if experience or future events make it clear that any of the projected results expressed or implied herein will not be realized.

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