eVance Capital, Inc., Securus365, Inc. and eVance Inc. (“Purchasers”) entered into a memorandum of sale to acquire substantially all of the assets of Excel Corporation (OTCPK:EXCC) for $12.5 million on April 9, 2018. GACP Finance Co., LLC acted as administrative agent and collateral agent to certain secured lenders of Excel Corporation and its subsidiaries, Payprotec Oregon, LLC, Excel Business Solutions, Inc. and eVance Processing, Inc. (“Debtors”). In order to finance the acquisition, GACP provided a term loan of $12.5 million to the Purchasers, Omnisoft, Inc. and CrowdPay.us, Inc. (Omnisoft and CrowdPay being affiliates of the The OLB Group, Inc.’s majority stockholder). In consideration at the closing, the Purchasers assumed certain post-closing obligations under assigned contracts and paid to GACP Finance Co., LLC the sum of $12.5 million through the deemed simultaneous financing of such purchase price to the Purchasers. OLB Group expects to retain the majority of the employees of the acquired companies. Barry I. Grossman and Matthew A. Gray of Ellenoff Grossman & Schole LLP acted as legal advisors to The OLB Group, Inc. in the transaction. Harvey A. Strickon and Leslie Plaskon of Paul Hastings LLP acted as legal advisors to Great American Capital Partners, LLC in the transaction. eVance Capital, Inc., Securus365, Inc. and eVance Inc. (“Purchasers”) completed the acquisition of substantially all of the assets of Excel Corporation (OTCPK:EXCC) on April 9, 2018.