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Australis Capital Announces Amended Terms for the Purchase of Passport Technology Inc.

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Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (“AUSA” or the “Company“) today announced that certain terms for the purchase of Passport Technology Inc. (“Passport“) have been updated to reflect additional contract signings by Passport since the announcement of the transaction. As disclosed in a June 25 press release, AUSA agreed to pay an earnout to Passport as follows:

  • $2 million in shares of AUSA and Body and Mind Inc. (“BaM“) if the Company achieves over $7 million in revenue in 2021
  • An additional $2 million in shares of AUSA and BaM if the Company achieves over $8 million in revenue in 2021
  • 25% of revenue in excess of $7 million in 2021 if Passport EBITDA for 2021 is above $3 million

Since the June 25 announcement, Passport has announced signing 16 additional Gateway Casinos in British Columbia and Alberta. Based on this signing, Passport provided an expectation of achieving $12 million of revenue in 2021 and $4 million of operating income.  AUSA and Passport have agreed to amend the terms of the earnout as follows:

  • $2 million in shares of AUSA and BaM if the Company achieves over $8.5 million in revenue in 2021
  • An additional $2 million in shares of AUSA and BaM if the Company achieves over $9.5 million in revenue in 2021
  • 25% of revenue in excess of $8.5 million in 2021 if Passport EBITDA for 2021 is above $3 million

Based on the purchase price plus revised earnouts, AUSA will pay roughly 9.1x 2021 operating income if Passport achieves its expectations.

“We are pleased with the progress that Passport continues to make in its markets and are happy that Passport is willing to back up its confidence with these amended terms,” said Cleve Tzung, CEO of AUSA. “With the increase in the threshold of Passport’s earn-out structure, AUSA shareholders now will retain even more upside value that will be generated from this combined transaction.”

All other terms of the transaction announced June 25 remain unchanged. For further details please refer to the June 25 press release at: https://ausa-corp.com/news/australis-capital-announces-expansion-of-fintech-platform-to-include-gaming-through-proposed-acquisition-of-passport-technology-and-private-placement-of-units/.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Fintech PR

Regulated Blockchain: Foundation for an Effective and Efficient Financial Sector

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LAGOS, Nigeria, March 24, 2025 /PRNewswire/ — The global financial landscape is at a crossroads. While digital financial services have brought convenience and accessibility, they have also introduced new challenges—ranging from regulatory uncertainty to inefficiencies in cross-border transactions to fraud risks, while still limiting affordability for many due to high costs. A groundbreaking whitepaper, Regulated Blockchain: Infrastructure for regulated DeFi: Foundation for a golden age in finance, authored by fintech visionary Obi Emetarom, presents a transformative framework that addresses these issues and paves the way for a Regulated Internet of Value—a blockchain-powered financial ecosystem that seamlessly integrates innovation with compliance.

Traditional finance (TradFi) remains encumbered by high costs, cumbersome processes, and regulatory complexity. According to the World Bank, global remittance fees averaged 6.2% in 2023, significantly above the 3% target set by the United Nations Sustainable Development Goals (SDGs), making transactions expensive for millions worldwide. Meanwhile, crypto-based decentralized finance (DeFi) has struggled with trust, adoption, and oversight. In 2023 alone, crypto-related hacks and fraud accounted for over $1.8 billion in losses, according to Chainalysis, underscoring the need for a more secure and regulated approach.

The whitepaper argues that Regulated Blockchain Infrastructure is the missing link, providing a secure, efficient, and transparent foundation that combines the best of both worlds. Regulated Blockchain is a new way of using blockchain technology to democratize financial services innovation while enforcing clear rules set by financial regulators and enabling real-time oversight. It combines the security and speed of blockchain with the oversight needed to guarantee compliance, prevent fraud and ensure trust. Unlike cryptocurrencies that operate outside government control, Regulated Blockchain allows banks, fintech companies, and payment providers to use blockchain for faster, cheaper, and safer transactions— all with necessary compliance and regulatory oversight. This means people and businesses can spend, save and invest money more effectively, banks can deliver their offerings more efficiently, and regulators can prevent illegal activities, all while making financial services more accessible to everyone. By embedding regulatory protocols directly into blockchain technology, financial institutions, fintech companies, and regulators can unlock frictionless financial services, automated compliance, and unprecedented levels of transparency.

“This whitepaper is a call to action for policymakers, financial institutions, and innovators,” said Obi Emetarom, the paper’s author and the CEO and co-founder of Zone. “The world cannot afford to operate on outdated financial models. Regulated Blockchain Infrastructure offers a clear path toward a future where financial services are secure, inclusive, and universally impactful. This is not just about improving efficiency—it’s about reshaping global finance to work for everyone, everywhere.”

The whitepaper outlines how Regulated Blockchain Infrastructure can accelerate economic growth, maximize financial inclusion, and improve regulatory efficiency. For central banks and regulators, it provides a framework for seamless oversight and risk mitigation while supporting innovation. For fintech firms, it presents a structured pathway for adopting blockchain technology without regulatory friction. For investors and global financial institutions, it creates a transparent and secure environment that enhances capital allocation and investment opportunities.

At the same time, the rise of Central Bank Digital Currencies (CBDCs), now being piloted in over 130 countries according to the Atlantic Council, signals growing institutional adoption of blockchain-based financial solutions. The Regulated Blockchain builds on this momentum by integrating programmable compliance, self-custody of assets, and automated financial products to redefine how value is exchanged, stored, and managed globally. Obi’s ultimate vision is for multiple Regulated Blockchains to interconnect and jointly function as a Regulated Internet of Value that will power the fully digital and automated economy of the future

With the accelerating pace of technological change, the time to rethink the foundation of the global economy is now. As policy makers, regulators, financial institution leaders, and technology innovators work together to shape the future of financial services, this Regulated Blockchain whitepaper provides a roadmap to a more efficient, inclusive and impactful financial ecosystem.

Full whitepaper is available here.

About Obi Emetarom

Obi Emetarom is a visionary fintech entrepreneur and the Co-Founder & CEO of Zone, Africa’s fastest growing payment infrastructure company. With over two decades of experience in driving financial technology innovation, Obi has been at the forefront of building transformative solutions that bridge the gap between traditional finance and decentralized systems. From pioneering Africa’s first Banking SaaS platform to launching the continent’s first regulated blockchain network for payments, his work has reshaped the financial services industry.

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Fintech PR

Elliott Statement on RWE AG

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LONDON, March 24, 2025 /PRNewswire/ — Elliott Advisors (UK) Limited (“Elliott,” or “we”), which advises funds that together have an economic interest of close to 5% in RWE AG (“RWE” or “the Company”), today issued the following statement:

“We welcome RWE’s decision to reduce its 2025-2030 investment programme by €10 billion, or 25%, while also implementing stricter investment criteria, raising return targets, and accelerating its farmdown strategy. These measures represent an important first step towards more disciplined capital allocation. However, we share the market’s disappointment with the lack of clarity regarding the Company’s commitment to enhance shareholder returns. Given the announced capex reduction and RWE’s persistent undervaluation, we believe there is a compelling opportunity to significantly increase and accelerate the ongoing share buyback programme. We look forward to continuing our constructive dialogue with the Company.”

About Elliott

Elliott Investment Management L.P. (together with its affiliates, “Elliott”) manages approximately $72.7 billion in assets as of December 31, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.

Media Contacts

London
Alice Best
Elliott Advisors (UK) Limited
T: +44 203 009 1715
abest@elliottadvisors.co.uk 

Frankfurt
Thomas Katzensteiner
Charles Barker
T: +49 69 79 40 90 25
Thomas.Katzensteiner@charlesbarker.de 

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Abler Nordic, Livelihoods Funds, Musim Mas, and Temasek Foundation Launch Blended Finance Initiative on Sustainable Oil Palm to Combat Deforestation and Aim to Support at least 400 Smallholders

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SINGAPORE, March 24, 2025 /PRNewswire/ — Impact fund manager Abler Nordic has partnered with Temasek Foundation, a Singapore-based philanthropic organisation that drives impact programmes in Asia, together with sustainable palm oil producer Musim Mas, and Livelihoods Funds to launch the Sustainable Oil Palm Replanting in Indonesia (SOPRI) project. The pilot initiative facilitates access to financing and resources for smallholders to sustainably replant oil palms, increasing their income while preventing forest encroachment.

In Indonesia, smallholders cultivate over 40% of the country’s oil palm land but face a significant challenge: aging oil palms that reduce yields, making replanting an urgent and costly necessity. Without access to affordable financing, some smallholders may expand into rainforest areas, accelerating deforestation and climate change.

The SOPRI project is a key component of Abler Nordic’s broader Climate Smart Fund—launched in the pilot phase with funding from the Norwegian Ministry of Climate and Environment—combining public, philanthropic, and private capital to create deforestation-free value chains and support smallholder resilience projects. Temasek Foundation strengthens this blended finance model by setting aside catalytic capital to guarantee and derisk loans to smallholders for the SOPRI project, thereby reducing financing costs for smallholders and de-risking private investment.

In its first phase, the SOPRI project will support 400 smallholders across 400 hectares in Sumatra, offering long-term replanting loans, financial literacy training, sustainability certification, land title support, and participatory village planning to promote responsible land use. In return, smallholders commit to avoiding forest encroachment, monitored through satellite and on-the-ground checks.

The project is designed to demonstrate that sustainable replanting is both financially viable and scalable, with future phases aiming to reach over 20,000 smallholders.

The Climate Smart Fund will act as the lead organisation, managing financial operations and coordinating implementation with local partners such as Koltiva and Bank Amar. Musim Mas is providing technical support to help smallholders achieve sustainable palm oil certification and access markets, while Livelihoods Funds brings expertise in training and certification to help farmers transition to sustainable practices.

Beyond replanting, the project is also exploring climate-resilient agroforestry models, integrating oil palms with shade trees and cash crops to improve soil health, regulate microclimates, and support smallholders in adapting to climate change.

Abler Nordic now aims to expand the broader Climate Smart Fund from the initial USD 10 million fund to 40 million USD in its first close, using a mix of investor capital, guarantees, and grants to scale concrete and sustainable climate action.

Arthur Sletteberg, Managing Director of Abler Nordic, said: “Building long-term relationships with local smallholders, communities and partners is at the heart of our work. What we’re doing is complex and unprecedented in many ways, but the results so far demonstrate that we have the right model and risk mitigation to expand the Climate Smart Fund and create long-term, meaningful change for both smallholder farmers and the climate.”

Sébastien de Royer, Senior Project Manager – Southeast Asiaof Livelihoods Ventures, said: “At Livelihoods Ventures, we believe in long-term solutions that address challenges at their root. Through this partnership, we aim to empower smallholders with the technical support and advisory needed to transition to sustainable and resilient farming systems.”

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Mr Rob Nicholls, General Manager of Projects and Partnerships, Musim Mas, said: “This initiative is not just about financial support; it is about empowering smallholders with the knowledge and resources they need to implement sustainable practices. We believe that through collaboration and commitment, we can create a positive impact on both the environment and the communities involved in palm oil production.”

Ms Heng Li Lang, Head of Climate and Liveability of Temasek Foundation, said: “This pilot initiative will be a game-changer. By unlocking financing with catalytic capital, smallholders can replant sustainably without bearing huge financial risks. Temasek Foundation is committed in collectively building this Public-Private-Philanthropic partnership with Abler Nordic, Livelihoods Funds and Musim Mas in Nature-based Solutions. We are not only driving positive environmental impact, but also paving the way for scalable and meaningful long-term solutions.

Media contact:

Devane Sharma,
Corporate Communications Department
Email: media@musimmas.com 
Phone: (65) 6576 6500
Media Enquiries: (65) 9012 1582 (WhatsApp Calls only)

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