OCEANSIDE, CA -- (Marketwire) -- 03/18/13 -- Citadel EFT, Inc. (OTCQB: CDFT) announces that the Company will be providing its Board of Directors with Corporate Liability & Indemnification Insurance, commonly referred to as D&O Insurance (D&O). Citadel EFT is growing in value, and all companies traded on a Nationally Recognized Exchange like NYSE Alternext, with assets & equity, need to have D&O to protect themselves and their stockholders. The basic principle underlying the acceptance of D&O is that companies (and their shareholders) are best served by knowledgeable directors and officers who take strategic risks based upon the information reasonably available to them at the time the decision is made, without the threat of personal liability. By providing this insurance coverage, corporations are better able to attract qualified, intelligent, and reasonable directors and officers to manage the operations of the company.
Gary DeRoos, CEO, Citadel EFT, states, "It is imperative to have Corporate Liability & Indemnification Insurance for the BOD. This is just another progression to up listing on the NYSE Alternext Exchange."
Management expects to have this D&O insurance coverage before the next quarter, as it entertains competitive quotes from insurance providers.
CDFT cautions that statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from projections in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time the statements are made.