Fintech
RETRANSMISSION: Mink Ventures Signs Letter of Intent to Aquire an 80% Interest in the Montcalm Ni-Cu-Co Project for Possible Qualifying Transaction
Toronto, Ontario–(Newsfile Corp. – June 28, 2022) – Mink Ventures Corporation (TSXV: MINK.P) (“Mink” or the “Company“) is pleased to announce that it has entered into a Letter of Intent dated June 27, 2022 (“LOI“) with Voltage Metals Corp. (CSE: VOLT) (“Voltage“) with respect to an option to acquire an 80% interest in the Montcalm Ni-Cu-Co project (the “Transaction“) which covers 38.8 sq. km and is located adjacent to Glencore’s past producing Montcalm Mine which had historical production of approximately 3.9 million tonnes grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2011) The Montcalm project is located 60 km northwest of Timmins, Ontario and has excellent access and infrastructure.
Terms of the Option:
Pursuant to the terms of the LOI, and subject to entering into a definitive agreement (the “Transaction Agreement“), Mink will have the exclusive option to acquire an 80% interest in the Montcalm project from Voltage by making the following cash payments, share issuances and minimum work expenditures:
Part 1:
- Pay $25,000 to Voltage on or before the date of completion of the Qualifying Transaction (the “Effective Date“);
- Issue 800,000 common shares in the capital of Mink to Voltage on or immediately prior to the Effective Date;
- Incur a minimum of $300,000 in work expenditures on the Property on or before April 10, 2023
Part 2:
- Pay $25,000 to Voltage on or before the first anniversary of the Effective Date;
- Issue 800,000 common shares in the capital of Mink to Voltage on or before the first anniversary of the Effective Date; and
- Incur a minimum of $300,000 in work expenditures on the Property on or before April 10, 2024.
Mink may accelerate and carry forward any of the cash payments or work expenditures. Upon full exercise of the option, Mink shall assume responsibility for payment of the aggregate 1.25% net smelter returns royalty to the extent of its relative ownership interest in the Montcalm project.
Mink proposes to complete a private placement raising not less than $1,000,000 (the “Private Placement“) to fund the phase one work program on the Montcalm project and general and administrative operating expenses. Mink does not plan to make any changes to its board of directors in connection with the Transaction.
The Transaction, when completed, may be considered to be Mink’s Qualifying Transaction for the purposes of the TSX Venture Exchange Inc. (the “Exchange“). The Company has requested its common shares to be halted by the Exchange pending review of the materials for the Transaction. Trading in the common shares of the Company is expected to remain halted until the closing or termination of the Transaction.
Mink, a capital pool company within the meanings of the policies of the Exchange, does not have any operations and has no assets other than cash. Mink’s business is to identify and evaluate businesses and assets with a view to completing a Qualifying Transaction under the policies of the Exchange.
Completion of the Transaction is subject to a number of conditions, including but not limited to, successful negotiation of the Transaction Agreement, Exchange acceptance, and the completion of the Private Placement. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
This is an initial press release. The Company intends to issue a further press release once it has entered into the Transaction Agreement.
The Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Highlights of the Montcalm Project:
- 38.8 sq. km claim block adjacent to Montcalm Ni-Cu-Co Mine (historical production of approximately 3.9 million tonnes grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2011) with mine host geology (Montcalm Gabbro Complex “MGC”) extending on to Mink’s property.
- Mink’s holdings cover ~ 66% of the gabbro zone component of the MGC shown in blue in the accompanying Figure 2. The gabbro zone is the primary host of the Montcalm Mine. Other significant features include the megabreccia zone known to host anomalous nickel and copper mineralization designated Unit 4 in Figure 2.
- There are a number of drill ready targets to be tested.
- Some of the higher priority VTEM targets and ground IP targets that remain to be tested are within or proximal to a prospective target area designated the “Hook Zone” located within the gabbro zone of MGC.
- A large portion of the southern section of the property has not been tested with airborne VTEM, which is capable of detecting deeper conductive zones between 350-400 meters below surface, well beyond the +- 200-meter capability of historical surveys. Known deposits at the adjacent mine were present well below the 200-meter elevation.
Future Exploration Plans which are subject to the completion and recommendations of an NI 43-101 report, which is currently underway, include:
- An airborne VTEM survey and airborne gravity survey in the southern part of the property to complement existing surveys;
- Maxwell Plate analysis of all VTEM data;
- Further ground induced polarization (IP) surveys over priority Hook Target VTEM anomalies and magnetic anomalies;
- Ground prospecting and sampling;
- Secure permits for a diamond drill program
Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release.
Figure 2
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About Mink Ventures Corporation:
Mink Ventures Corporation is a Capital Pool Company (CPC) that is focused on identifying and evaluating businesses and assets with a view to completing a Qualifying Transaction (QT). The Company has 8,367,500 shares outstanding.
About Voltage Metals Corp:
Voltage is a mineral exploration company with a highly experienced team focused on nickel and other battery metals exploration in the Canadian provinces of Ontario and Newfoundland. The Company looks to create shareholder value by aggregating and exploring projects that possess sound geology and brand-new discovery potential. Voltage has a deep roster of management and key stakeholders, who are expert in the essential resource trifecta of exploration, operations and finance.
For further information about Mink Ventures Corporation please visit www.minkventures.com or contact Natasha Dixon, President & CEO, T: 250-882-5620 E [email protected]
Forward Looking Statements
This press release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future business and operations of Mink. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, general business, economic, competitive, political and social uncertainties; and the delay or failure to receive applicable Board or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. These forward-looking statements are made as of the date hereof and Mink disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129344
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
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:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- 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.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
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.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
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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