Paymeon Announces Intention to Change its Name to Basalt America

FORT LAUDERDALE, Fla., March 15, 2017 (GLOBE NEWSWIRE) -- Paymeon, Inc. (OTC MARKETS:PAYM) today announced its intention to change its name to “Basalt America.”  According to Ed Cespedes, Paymeon’s chief executive officer, “Our Company’s primary focus going forward will be to develop our Basalt America business, which we acquired last month.  We expect to begin the process of the name change in the near future.  We will also voluntarily seek to change our ticker symbol to more closely reflect our new name.  We hope to have completed the process of our name and symbol change by the end of the second quarter.”  Mr. Cespedes continued, “The process involves the filing of an information statement with the Securities and Exchange Commission (SEC), and also is subject to review and processing by the Financial Regulatory Association (FINRA).”

Paymeon will continue to trade under its current ticker symbol, PAYM, until the process is completed.

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Forward-Looking Statements:  Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products and partnerships, as well as potential transactions the Company may be considering or may have closed. Such forward-looking statements are based on present circumstances and on PAYM's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations, reliance on representations from third parties that may not execute as planned, development of new markets, and other factors over which PAYM has little or no control. Such forward-looking statements are made only as of the date of this release, and PAYM assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. In addition, this release makes reference to information contained in third party sources that have not been verified.  Paymeon makes no representation as to the accuracy of such information.  Risks, uncertainties and other factors are discussed in documents filed from time to time by PAYM with the Securities and Exchange Commission. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any securities.  For additional information and potential risk factors, readers should review PAYM’s filings with the Securities and Exchange Commission, which can be found at www.sec.gov.

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Source: Paymeon, Inc.