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Long-term investor to provide more financing to Global Payout

A long-term private investor of Global Payout Inc. agreed to provide financing to the company at a valuation of 10x the share price.

The investor committed to provide additional financing of more than $3.0 million at a 10x valuation for a total investment of more than $5.0 million over the past two years. Global Payout, which provides prepaid payment solutions, expects to use a large portion of proceeds to retire "a substantial percentage" of its convertible debt.