WDAS Helps Raise $690,000 For Socially Innovative Projects That Permanently Improve The Living Conditions Of Those Most In Need
Apr 08, 2014 10:16:00 (ET)
NEW YORK, April 8, 2014 /PRNewswire/ -- World Assurance Group, Inc. (www.worldassurancegroup.com) (OTC Pink: WDAS) today announces that, as part of its Corporate Social Responsibility program, it has partnered with The World for People Foundation to leverage its technology and brands and has assisted in raising pledges of $690,000 to fund socially innovative projects that permanently improve the lives of people most in need.
WDAS has agreed to make its brands and technologies, including its existing wallet and money transfer technologies, available to The World for People Foundation ("WFP") on an ongoing basis at zero license fees, so long as more than 90% of the funds raised by WFP go to supporting Foundation projects.
WFP, based at Royal Exchange, London, England provides commercial and technological supports to socially innovative and life changing projects for the recipients. The Foundation is initially targeting water creation projects and is then planning to also explore green energy and projects in microfinance where it can leverage WDAS resources.
The World for People Foundation was presented for the first time to delegates at the WOR(l)D Global Network convention in Punta Cana, Dominican Republic and at the Gala Dinner on April 3, where $690,000 was pledged by the top WOR(l)D distributors. More details can be found on www.worldforpeople.org
Mr. Fabio Galdi, CEO of WDAS, who hosted the Gala Dinner, said, "We are pleased to support such a worthy cause that we have been involved with for some time and we welcome the opportunity to use our brands and technologies to assist those in greatest need."
Roberto Race, Director, WFP, said, "I am delighted with WDAS' generous contribution which will help us deliver on our goals. We look forward to continued strong partnership with WDAS. This WDAS support and money pledged will enable the Foundation to start its call for projects and begin to make life changing differences to the people associated with the projects that we support around the world."
About World Assurance Group
World Assurance Group, Inc. (WDAS) is a holding company that currently operates through three wholly owned subsidiaries: Cellad Inc., a digital media company based in Ireland operating in the global mobile advertising industry. World Global Group, Inc. (WGG), an intellectual property licensing company based in Miami, Florida and World Global Assets Pte Ltd (WGA), based in Singapore and which owns the Wor(l)d Global Network Pte Ltd brands, trademarks, technology and IP. Cellad's Adkash smartphone app is revolutionary new cloud advertising platform that allows advertisers and brands to deliver high definition, full screen adverts, coupons and click-through offers to subscribers via smartphone applications. When Adkash is installed on the user phone, every time they receive an inbound call or text message, Adkash pays the subscriber a fee in the form of cash or other agreed medium. WGG develops and acquires innovative technologies that are disruptive to existing processes. Additional information may be found at www.worldassurancegroup.com
This press release contains forward-looking statements. Words such as "expects", "intends", "believes", and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE World Assurance Group, Inc.
/CONTACT: Investor Relations, info@worldassurancegroup.com, Sean McVeigh, Phone: 855-467-6500
/Web site: http://www.worldassurancegroup.com
