Kibush Capital Corporation Signs LOI to Acquire Australia's
InstaCash Pty Ltd.
MELBOURNE, Australia, Sept. 4, 2013 /PRNewswire/ -- Kibush Capital
Corporation (OTC: DLCRD) today announced it has entered into a
Letter of Intent to acquire 80% of the Australian company InstaCash
Pty Ltd. The LOI allows for a due diligence period of 30 days
concluding no later than Sept. 30,
2013.
InstaCash is categorized as a Micro Lender and is licensed to
provide financial products pursuant to the Australian National
Consumer Credit Protection Act. Founded in 2010, InstaCash
has been an active participant within the lending industry for the
preparation of the newly enacted legislation that commenced this
year. The company has invested heavily in training and compliance
from the onset. With two current store front locations and a model
that proves it can produce profit with manageable risk exposure,
the company is ideally poised for growth. Since the
introduction of the new reforms many competitors have left or
scaled back as they lack the expertise required to comply under the
new reforms.
InstaCash's management team has accumulated many years of
experience in the financial services sectors and collectively has
more than 22 years of industry specific experience. This
combination of expertise provides the knowledge and foresight
necessary to effectively manage in an increasingly complex
regulatory environment while still driving the commercial strategy
and generating value. InstaCash has a refined business
process that has the systematic stability of a large company
combined with the agility and leanness of a small company and it
has structured its IT systems with growth initiatives in mind.
Management is headed up by Charmaine
Rose, Founder and Managing Director, who has more than 22
years of experience both domestically and internationally in a wide
range of financial and non-financial institutions. She has
expertise in compliance, strategic financial and business
performance management, capital management, financial systems, and
training and development.
The demand for services is rapidly increasing in an already
underserved market. InstaCash has strong controls in place,
and a committed team with the agility to adapt to new opportunities
and challenges. This will allow InstaCash to aggressively
pursue acquisition and de novo opportunities. InstaCash has plans
to open four additional locations and an internet based store front
over the next two years. InstaCash also will seek out
complimentary products/services to its core business.
With the certainty of the regulators and a mass exit of
providers, InstaCash has never been better positioned for growth.
DLCRD sees this opportunity to assist in the development and
growth of a company that is able to scale up to meet market
requirements. And with demand expected to increase and new
competitors not easily able to enter the sector, the opportunities
for growth are excellent. DLCRD will establish an advisory
committee to compliment the board in overseeing InstaCash and any
other future businesses acquired.
About Kibush Capital Corporation:
Kibush Capital identifies companies with proven products that
can be sold immediately to produce revenue. It is looking for
opportunities that can be scaled up quickly and Kibush Capital will
provide the management and financial expertise to move its
acquisition to another level.
Contact:
Paul Knopick
E & E Communications
pknopick@eandecommunications.com
940-262-3584
SOURCE Kibush Capital Corporation