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Vinza Capital Management Announces Execution of Definitive Agreement for the Acquisition of NU E Corp.

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Vancouver, British Columbia–(Newsfile Corp. – March 28, 2022) – Vinza Capital Management Inc. (“Vinza” or the “Company”) is pleased to announce that, further to its news release dated January 5, 2022, Vinza has entered into a share exchange agreement (the “Agreement“) with NU E Corp. (“NU E“), a green hydrogen production, solar energy, infrastructure and energy logistics company, and the shareholders of Nu E, pursuant to which Vinza will acquire all of the issued and outstanding securities of NU E (the “Transaction“).

NU E Corp.

NU E is a leading renewable, green power and clean energy company with Headquarters in Calgary, Alberta, focused on developing solar and hydrogen infrastructure and supplying last mile solution and logistics (POS) for hydrogen in the heavy transportation industry as well as solar infrastructure and energy production for grid, hydrogen and industrial consumption.

NU E is leading the way in the carbon credit segment of the market which is quickly becoming the footprint for oil and gas, mining and industries to invest and produce green energy to offset carbon taxes. NU E is also a leading solar and infrastructure development company that builds and constructs large solar projects for both industry and internal use. Complimenting NU E’s renewable focus, NU E also manufactures high quality electrical equipment including variable frequency drives, electrical switchgear and panels.

Devon Sandford, President and Chief Executive Officer (“CEO“) of NU E stated: “The signing of the definitive agreement with Vinza brings NU E one step closer to being Canadas first public merchant solar and hydrogen provider for utility and industrial markets. We are excited about the next twelve months bringing these projects online and expanding our solar and hydrogen footprint. A number of years of due diligence and technical evaluations have led to our first two project sites as well as accumulating upwards of 350 MW in our project portfolio opportunity.”

For more information on NU E, visit: https://nu-ecorp.com/.

Terms of the Transaction

Pursuant to the terms of the Agreement, on closing of the Transaction (the “Closing“), the Company will acquire all of the issued and outstanding common shares (each, a “NU E Share“) of NU E in consideration for the issuance of an aggregate of 38,400,110 common shares (each, a “Share“) in the capital of the Company to be issued pro rata to the shareholders of NU E at a deemed price of $0.10 per Share. In addition, all of the holders of NU E Share purchase warrants (each, a “NU E Warrant“) outstanding immediately prior to the Closing shall receive, in exchange for their NU E Warrant, an equal number of Share purchase warrants (each, a “Replacement Warrant“) of the Company, each on the same terms and conditions as such NU E Warrant.

The combined company that will result from the completion of the Transaction (the “Resulting Issuer“) will be renamed “Nu E Corp.” or such other name as agreed to by the Company and NU E (the “Change of Name“). Following the closing, NU E will become a wholly owned subsidiary of the Company and the business of Vinza will be that of NU E.

Voluntary Escrow

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In addition to any resale restrictions applicable to the Shares issued in connection with the Transaction pursuant to the polices of any applicable stock exchange or applicable securities laws, the Shares issued to the shareholders of NU E in exchange for their NU E Shares and any Shares issued or to be issued upon the exercise of any Replacement Warrants (collectively, the “Escrowed Shares“) will be subject to a voluntary escrow pursuant to the terms and conditions of the Agreement. Accordingly, the escrow provision requires the Escrowed Shares to be locked up and released in accordance with the following schedule: 5% of the Escrowed Shares on the date the Shares are listed for trading on a recognized Canadian stock exchange (the “Listing Date“); 10% of the Escrowed Shares on the date that is 6 months from the Listing Date; 15% of the Escrowed Shares on the date that is 12 months from the Listing Date; 20% of the Escrowed Shares on the date that is 18 months from the Listing Date; 20% of the Escrowed Shares on the date that is 24 months from the Listing Date; and 30% of the Escrowed Shares on the date that is 30 months from the Listing Date.

In the event the Resulting Issuer completes one or more equity financings for an aggregate of at least $100,000,000, then the Escrowed Shares subject to the final two escrow releases will be immediately released from escrow. In addition, if the market capitalization of the Resulting Issuer exceeds $500,000,000 for at least 10 consecutive trading days, then all Escrowed Shares will be immediately released from escrow.

Directors, Officers and Insiders of the Resulting Issuer

Upon Closing, it is expected that each of Eric Boehnke, Nick Furber and Todd Heinzl will resign as directors of the Company, and Mr. Boehnke will resign as the President and Chief Executive Officer (“CEO“) of the Company and Mr. Furber will resign as the Chief Financial Officer (“CFO“) and Corporate Secretary of the Company. Following such resignations, it is expected that each of Devon Sandford and Kyler Hardy plus one additional board member to be determined by the parties are expected to be appointed as directors of the Resulting Issuer (the “Board Reconstitution“). Further, Mr. Sandford is expected to be appointed as the President and CEO and John Newman is expected to be appointed as the CFO and Corporate Secretary of the Resulting Issuer (the “Management Reconstitution“).

Devon Sandford, President, CEO and Director

Devon Sandford is an experienced entrepreneur and Journeyman Red Seal certified electrician. Mr. Sandford is especially knowledgeable in the design and construction of electrical power and control systems and utility-scale solar facilities. Mr. Sandford has launched and successfully sold off several companies that have designed and manufactured switchgear, motor control, module power and control buildings and zone rated electrical systems across utility, mining and oil and gas industries. Mr. Sandford is currently the President and owner of Northern DC Solar Inc. and Sandford Power.

John Newman, CFO and Corporate Secretary

John Newman is a Fellow of CPA Australia with over 40 years’ experience both in Canada and Internationally as a CFO for both public and private energy and service companies. Mr. Newman’s experience includes raising capital, start-ups, risk management, governance and both management and public company reporting.

Kyler Hardy, Director

Samuel “Kyler” Hardy has over 19 years of experience in the global resource sectors. Mr. Hardy has worked with venture capital, private equity funds and has introduced strategic partners to advance projects. Mr. Hardy has founded, managed, and successfully sold several resource sector businesses. Mr. Hardy is currently the CEO of Cronin Group, a natural resource focused merchant bank, CEO of Cloudbreak Discovery PLC, Chairman of Temas Resources Corp, Co-Executive Chairman of Imperial Helium Corp., Director of Norseman Silver Inc. and Director of Hexa Resources Limited.

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Additional information on the third board member to be appointed upon Closing will be provided in a subsequent news release.

Conditions to Closing

The Transaction is subject to: (i) the completion of satisfactory due diligence; (ii) the receipt of all necessary consents, waivers and approvals; (iii) each of the outstanding NU E Warrants being replaced for Replacement Warrants; (iv) the Board Reconstitution; (v) the Management Reconstitution; (vi) the Change of Name; and (vii) other closing conditions customary for transaction of this nature and enumerated in the Agreement.

For further information contact:

Vinza Capital Management Inc.:

Eric Boehnke
Chief Executive Officer
P: (604) 307-4274
E: [email protected]

NU E Corp.:

Devon Sandford
Chief Executive Officer
P: (403) 849-8877
E: [email protected]

Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the Company’s completion of the Transaction and related transactions. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the completion by the Company of the Transaction, the proposed officers and directors of the Resulting Issuer, and the conditions to be satisfied for completion of the Transaction. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The risks include the following: that the requisite corporate approvals of the directors and shareholders of the Company and NU E, as applicable, may not be obtained; that the Company or NU E, as applicable, may be unable to satisfy any or all closing conditions necessary for the completion of the Transaction; and other risks that are customary to transactions of this nature. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118390

Fintech

Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)

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As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.

Chime’s Quiet Step Toward Public Markets

Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.

With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.

Source: Bloomberg

ZBD’s Pioneering Achievement: EU MiCA License Approval

ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.

MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.

Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.

Source: Coindesk, PR Newswire

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The Fintech-Credit Union Synergy: A Blueprint for Innovation

The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.

This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.

Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.

Source: PYMNTS

Tackling Student Loan Debt: A Fintech’s Mission

Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.

The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.

As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.

Source: RBJ

Industry Implications and Takeaways

Today’s updates underscore several key themes shaping the fintech landscape:

  1. Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
  2. Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
  3. Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
  4. Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.

 

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SPAYZ.io prepares for iFX EXPO Dubai 2025

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Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.

SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.

Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.

“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”

Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.

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Airtm Enhances Its Board of Directors with Two Strategic Appointments

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Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.

“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”

Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.

Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.

The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.

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