Fintech
Azimut Exploration Inc. Continued Refusal to Engage with Concerned Shareholders or Other Stakeholders
Vancouver, British Columbia–(Newsfile Corp. – March 14, 2023) – Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) (“Coloured Ties”) (“Ties”) or the (“Companies”) and privately held Bullrun Capital Inc (“Bullrun”) and Bullrun together the (“Concerned Shareholders”) are providing the following open communication to the board of directors and management of Azimut Exploration Inc. (“Azimut”)
CONTINUED REFUSAL TO ACKNOWLEDGE OR ENGAGE WITH CONCERNED SHAREHOLDERS IN ANY CONSTRUCTIVE MANNER
The Concerned Shareholders are substantial shareholders of Azimut. Kal Malhi, CEO of Coloured Ties and Bullrun Capital has made numerous attempts to engage management of Azimut, including CEO Jean Marc Lulin and the rest of the Board of Directors (“the Board”) in conversations to encourage fulsome disclosure of the Azimut exploration plans and activity on the extensive critical minerals land holdings in Quebec. The numerous attempts to engage with management and the Board have had no success and have been met with minimal or no response, including attempts made by the Concerned Shareholders subsequent to their news release of March 3, 2023.
As previously reported, the Concerned Shareholders, through legal counsel, delivered a written request for shareholder engagement together with a request for board representation on February 27, 2023. The only response provided by Azimut was that the Concerned Shareholders were welcome to attend the Azimut booth at PDAC or review the Company website and news releases.
The Concerned Shareholders then arranged for a phone call with the Azimut Chairman of the board and Mr. Lulin. On March 8, 2023 a call was convened but Messers Mullan and Lulin refused to speak about Azimut at all, objecting to the Concerned Shareholders legal counsel being present on the call. The Concerned Shareholders attempted to discuss the fact that Azimut’s critical mineral assets were being given negligible valuation in the capital markets based on Azimut’s lack of development efforts and the Company needed to amend its business practices and fast track the development of its vast critical mineral land holdings in Quebec.
Messers Mullan and Lulin refused to participate in any dialogue.
THE FACTS REMAIN THAT AZIMUT HAS AMASSED A VAST, IMPORTANT LAND HOLDING IN QUEBEC IN THE CRITICAL MINERAL PROSPECTS HOWEVER IT HAS FAILED TO DEVELOP THE PROSPECTS IN THE LAST FOUR YEARS.
The Concerned Shareholders are active investors in Quebec’s Critical Mineral Exploration projects via investments in Junior Exploration Companies that have and are conducting aggressive and ethical exploration programs on ground adjoining and in some cases surrounding ground held by Azimut. These companies have made discoveries that have made James Bay the lithium exploration capital of the world and provided amazing shareholder returns to all investors in the James Bay region.
In contrast, Azimut holds what the Concerned Shareholders believe is the best and most prospective critical minerals ground in the region, and recently Azimut went on a staking frenzy to stake immense amounts of additional ground. Azimut’s stock price has a diminished valuation compared to its peers. This valuation discount reflects the market’s frustration with Azimut’s refusal to explore these vast critical mineral land holdings and its sole focus to expend all its efforts and working capital in searching for gold deposits in remote locations of Quebec.
Mr. Jean Marc Lulin now stands on his insistence that Azimut has been in this region for 20 years and he knows the ground better the anyone. Mr. Jean Marc Lulin now claims that finding lithium deposits is easy and to let other junior exploration companies demonstrate the potential in the area surrounding Azimut land holdings is the way to extract value for these assets held by Azimut. This practice to acquire vast critical mineral land holdings in Quebec and then squat on these highly prospective lands is in direct contrast to others from outside Quebec and Canada who may “know the land less” but have established critical minerals deposits on ground adjoining or surrounding Azimut ground in the last three years.
This belief and business practice by Azimut is not supported by the capital markets, as demonstrated by the dismal valuation of Azimut common share price on the TSX-V stock exchange. Other publicly listed companies from outside Quebec and Canada that are actively exploring and finding large critical minerals deposits in the area are providing lucrative shareholder returns. Azimut’s current market capitalization is a fraction of the value of companies that have been actively exploring for critical minerals in James Bay for the past three to four years while Azimut has been silent and/or oblivious of the critical minerals potential of these assets until the recent Concerned Shareholder actions.
The Concerned Shareholders believe that at a time when not only in Canada/Quebec but rather globally there is a focus on discovering critical mineral deposits, Azimut needs to establish a Board of Directors and Executive teams that are able to help Azimut revamp its business model, actually “EXPLORE” Quebec’s critical mineral wealth with integrity and professionalism and inclusive of ALL stakeholders.
CONCERNED SHAREHOLDER PROPOSAL
At present it appears that Azimut is functioning as a private corporation with blind support from its Board of Directors who own very little stock in the Company. Management has demonstrated a lack of ability to understand Azimut’s critical minerals asset base and deploy reasonable business practices to explore those assets and gain investor and industry respect as a credible exploration company. As he has done with the Concerned Shareholders, Mr Lulin has also refused to engage with other junior exploration Companies who are active on projects that adjoin or surround Azimut land holdings and who wish to partner with Azimut on these critical mineral assets. It almost appears as if Mr. Lulin is not willing to explore these amazing assets himself, but is also afraid to let others explore and make discoveries without credit to Mr. Lulin.
The Concerned Shareholders will continue to advocate for a revamp of Azimut’s business practices and insist that the company establish a critical minerals division, engage a qualified critical minerals exploration executive team to run that division and engage in business practices that are respectful of ALL shareholders, adjoining property junior exploration companies and all other stakeholders, including Canada’s current mandate to develop critical minerals assets in Quebec.
MANAGEMENT CLAIMS BLIND SUPPORT FROM THE “LIONS” QUEBEC ESTABLISHMENT
Mr. Jean Marc Lulin continues to refuse to engage with the Concerned Shareholders in ANY capacity and insists he has garnered unwavering shareholder support from Quebec’s investment community to whom he referenced as being the “LIONS” of the Quebec establishment.
The Concerned Shareholders call upon the “LIONS” supporting Azimut and Mr. Jean Marc Lulin’s current business practice of squatting on Quebec’s critical mineral prospects to engage with the Concerned Shareholder to possibly alleviate any misunderstandings to help bring Azimut business practices in line with the interests of all shareholders, the Province of Quebec and Canada’s critical mineral exploration industry and policies. Azimut shareholders, Board of Directors and any other stakeholders are welcome to reach the Concerned Shareholders through the following contacts:
Mr. Kal Malhi, CEO
Coloured Ties Capital and BullRun Capital Inc.
[email protected]
This is not a solicitation of proxies by the Concerned Shareholders.
About Coloured Ties Capital Inc
Coloured Ties Capital is a TSX-V listed issuer that invests in early stage commercial ventures and provides investee companies with capital market access and advisory services. The Company offers investors an opportunity to participate in early stage opportunities that are often only offered to high net worth or institutional investors via investment in the Company’s common shares listed on the TSX Venture Exchange under symbol V.TIE. Coloured Ties Capital is a 2022 TSXV 50 Company.
For further information please contact:
Coloured Ties Capital Inc.
Kal Malhi Chief Executive Officer [email protected]
https://www.colouredtiescapital.com
https://www.bullruncapital.ca
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.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
The forward-looking statements contained in this news release present the expectations of the Company as of the date hereof and, accordingly, is subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158418
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.
Finastra Data Breach: A Wake-Up Call for Fintech Security
Source: KrebsOnSecurity
The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.
Implications and Challenges
While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.
The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.
Future Considerations
This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.
PayPal Resurrects Money Pooling Feature
Source: TechCrunch
In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.
Strategic Revival
This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.
Broader Industry Impacts
Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.
While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.
Santander Expands Fintech Reach in Mexico
Source: Yahoo Finance
Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.
Strategic Significance
Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.
Challenges on the Horizon
While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.
2024 Global Fintech Awards: Spotlighting Excellence
Source: PRNewswire
Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.
Recognizing Industry Leaders
Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.
What It Means for the Ecosystem
The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.
Commonwealth Central Credit Union Partners with Jack Henry
Source: FinTech Futures
Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.
Modernizing Member Experiences
Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.
A Growing Trend
This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.
Key Takeaways for the Fintech Industry
- Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
- Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
- Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
- Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
- Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.
The post Fintech Pulse: Industry Updates, Innovations, and Strategic Moves appeared first on News, Events, Advertising Options.
The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.
Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone
Source: Revolut
Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.
Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.
This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.
PayTech Awards 2025: Celebrating Excellence in Innovation
Source: FinTech Futures
The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.
This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.
As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.
U.S. Politics and the Fintech Sector: A New Era of Funding?
Source: American Banker
The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.
While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.
A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.
Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy
Source: FF News
Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.
The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.
This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.
Autire: Accounting Tech of the Year at US FinTech Awards
Source: Business Wire
Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.
Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.
The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.
Final Thoughts: A Fintech Revolution in Full Swing
From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.
The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.
The post Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech appeared first on .
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