Fintech PR
CORRECTION FROM SOURCE: Canada Computational Unlimited Corp. Announces Early Repayment of Bitcoin Loans
Toronto, Ontario–(Newsfile Corp. – September 29, 2021) – Canada Computational Unlimited Corp. (TSXV: SATO) (the “Corporation“) announces today that Canada Computational Unlimited Inc. (“CCU.ai“), a wholly owned subsidiary of the Corporation, completed the early repayment of loans payable which are repayable in Bitcoin on September 29, 2021 (the “Termination Date“).
Description of the BTC Loan Agreements
On June 30, 2019, CCU entered into bitcoin loan agreements (the “BTC Loan Agreements“) pursuant to which it borrowed a total of 118.4743 bitcoins (“BTC“) from eight shareholders of CCU: Romain Nouzareth, Mathieu Nouzareth, Julien Romanetto, Frédéric Montagnon and four other arm’s length shareholders of CCU (collectively, the “Lenders“).
The BTC Loan Agreements provided CCU the ability to elect to repay in BTC according to pre-established phases as described in the BTC Loan Agreements:
Early Repayment Phases
Phase 1: Each month until the mining equipment is connected, the Borrower will pay each Lender 0.075 BTC.
Phase 2: From the time the mining equipment is operational until the Borrower has repaid each Lender 3 BTC, the Borrower will pay to such Lender 85% of the BTC created using the mining equipment, less the electricity costs and the pool costs (1%) (the “Contribution Margin“).
Phase 3: For 18 months after the end of Phase 2, repayment of 50% of the Contribution Margin.
No security was granted by CCU on any of its assets in connection with the BTC Loan Agreements, nor are there any securities of CCU or the Corporation to be issued in repayment of the BTC Loan Agreements.
Repayment of the BTC Loan Agreements
CCU made all payments required under Phase 1 of the BTC Loan Agreements until connection of the mining equipment. On the Termination Date, CCU and the Lenders agreed to proceed with the early repayment of all outstanding indebtedness under the BTC Loan Agreements and the payment of all other amounts owed to the Lenders pursuant to Phase 2 and Phase 3 of the BTC Loan Agreements (the “Early Repayment“). The Corporation and CCU decided to proceed to the Early Repayment in order to reduce the Corporation’s indebtedness and free mining capacity for other purposes. As of the date of the Early Repayment, a total of 12.1643 BTC were still outstanding and owed to the Lenders by CCU, representing an aggregate amount of C$641,123. CCU proceeded to the repayment in Bitcoins of amounts equivalent to C$27,044 to Romain Nouzareth, C$11,789 to Mathieu Nouzareth, C$214,340 to Julien Romanetto, C$324,531 to Frédéric Montagnon and C$63,418 to four other arm’s length shareholders of CCU. Dollar amounts in this press release are based on the price of BTC as of September 29, 2021 for an amount of US$41,286, as indicated on Yahoo Finance
The result of the Early Repayment is that CCU has no further indebtedness under the BTC Loan Agreements. The payment of the balance was made in BTC and resulted in a gain of settlement of debt of an estimated amount of C$77,000.
Related-party Transaction
Pursuant to the BTC Loan Agreements, Romain Nouzareth, Mathieu Nouzareth, Frédéric Montagnon and Julien Romanetto initially each loaned to CCU 5 BTC, 2.18 BTC, 60 BTC and 39.64 BTC, respectively.
Romain Nouzareth, Mathieu Nouzareth, Julien Romanetto and Frédéric Montagnon are shareholders and insiders of the Corporation and constitute related parties, as such term is defined under applicable Canadian securities law. The Early Repayment constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101“). The Early Repayment of the BTC Loan Agreements is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the amounts repaid to related parties are below 25% of the Corporation’s market capitalization. The Early Repayment was approved by the Board of Directors of the Corporation on September 28, 2021. The Corporation did not file a material change report 21 days prior to the date of the Early Repayment of the BTC Loan Agreements as the intention of the Corporation to accelerate the payment had not been confirmed at that time.
Romain Nouzareth beneficially owns or controls 11,079,552 shares of the Corporation, representing approximately 17.39% on an undiluted basis and 15.48% on a fully diluted basis of the issued and outstanding shares of the Corporation; Mathieu Nouzareth beneficially owns or controls 8,326,710 shares of the Corporation, representing approximately 13.07% on a non diluted basis and 11.64% on a fully diluted basis of the issued and outstanding shares of the Corporation; each of Julien Romanetto and Frédéric Montagnon beneficially owns or controls 6,405,722 shares of the Corporation, representing approximately 10.06% on a non diluted basis and 8.95% on a fully diluted basis of the issued and outstanding shares of the Corporation. The Early Repayment of the BTC Loan Agreements does not affect or change the percentage of securities of the Corporation beneficially owned or controlled by each of Romain Nouzareth, Mathieu Nouzareth, Julien Romanetto and Frédéric Montagnon.
About the Corporation
The Corporation operates a state-of-the-art, carbon-neutral bitcoin mining center with a contract of 20 MW of stable, eco-friendly energy. The company’s high-density calculation centers are built for high-grade cryptocurrency mining, AI data processing, and fintech infrastructure.
Founded in 2017, the Corporation is led by technology entrepreneurs, electricity and ventilation experts, network specialists, and Canadian industrialists. Since its inception, the company has pursued a vision of environmental stewardship throughout the mining process. The excess supply of renewable energy in the province of Québec has made this endeavor feasible and a great base for growth.
Cautionary Statement Regarding Forward-Looking Information
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.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
This news release contains certain forward-looking statements and other statements that are not historical facts. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements.
These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For additional information, please contact:
Canada Computational Unlimited Corp.
Romain Nouzareth
Chief Executive Officer
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98101
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Fintech PR
MarketsandMarkets appoints Nirmal Shani as Managing Partner in Dubai, in line with IPO plans
DELRAY BEACH, Fla., Nov. 26, 2024 /PRNewswire/ — MarketsandMarkets, the only Indian-origin startup to feature in the Forbes list of ‘America’s Best Management Consulting Firms 2023’, has appointed Nirmal Ramesh Shani as Managing Partner.
Nirmal joins MarketsandMarkets from S&P Global to lead its real-time megatrend disruption impact platform for the global energy sector. He has over 23 years of experience with IHS Markit, Dun & Bradstreet, and Times of India. During his formative years, he supported his family business, exporting Indian handicrafts to Japan and USA.
Sandeep Sugla, Founder and CEO of MarketsandMarkets, said: “It’s my pleasure to welcome Nirmal to MarketsandMarkets. His leadership further strengthens our ability to address customer needs at a time when the global energy, power, chemical, material, and industrial sectors are undergoing unprecedented transformations. We estimate approximately USD 25 trillion emerging from new revenue sources by 2030 as megatrends like AI, clean tech, blockchain, IoT, etc., disrupt current revenue streams of customers and the customer’s customers.”
Milan Rao, COO and CRO of MarketsandMarkets, said, “Nirmal joins a growing list of global leaders who are committed to taking our AI-enabled platform, KnowledgeStore, and our cutting-edge growth and disruption consulting capabilities to over 13,000 clients globally. His knowledge and expertise will add significantly to our presence in the energy and ESG sectors worldwide.”
Nirmal is passionate about energy and sustainability; in his most recent role at S&P Global, he helped create landmark platforms — such as the CERAWeek Asia Pacific Energy Forum in Houston, the India Energy Forum in New Delhi, the partnership with PETRONAS for Energy Asia in Kuala Lumpur, and with Japan’s Ministry of Economy, Trade and Industry (METI) for the Asia Green Growth Partnership Ministerial Meeting (AGGPM) — to elevate the Voice of Asia within the global energy system towards an ‘Equitable Energy Transition for All’.
On his appointment, Nirmal said: “MarketsandMarkets helps progress my mission to the next level. I haven’t seen any other platform in the world that provides such a telescope for global energy, chemical, and industrial leaders to analyze the impact of disruptive shifts in real-time and in an interconnected way. The proprietary tools combined with exclusive on-demand access to research, and a dedicated growth program manager ensures our clients avoid missing blind spots and gain early mover advantages.”
Nirmal is an alum of Narsee Monjee College and Welingkar Institute of Management. He serves on the Board of Advisors/Governing Council of Umang Foundation, a non-profit organization with whom he has been associated since 2009. His philanthropic initiatives focus on education and health-related issues in rural India.
About MarketsandMarketsTM
MarketsandMarkets™, recently featured on the Forbes list of America’s Best Management Consulting Firms, is a blue ocean alternative in growth consulting and program management with the widest lens on emerging technologies, leveraged through a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. The B2B economy is witnessing the emergence of USD 25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. MarketsandMarkets™ works with several Forbes Global 2000 B2B companies, helping them monetize this USD 25 trillion opportunity—through TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing—and stay relevant in a disruptive ecosystem. MarketsandMarkets’ cutting-edge AI-powered KnowledgeStore™ platform (Market Intelligence Cloud) integrates research and facilitates analyses of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To learn more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn, and Facebook.
Media inquiries:
Mr. Rohan Salgarkar
USA: +1-888-600-6441
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View original content:https://www.prnewswire.co.uk/news-releases/marketsandmarkets-appoints-nirmal-shani-as-managing-partner-in-dubai-in-line-with-ipo-plans-302316430.html
Fintech PR
StarCompliance Expands Cryptocurrency Compliance Capabilities with the Acquisition of Aer Compliance
Bringing traditional securities trading compliance and digital asset management into one comprehensive solution
ROCKVILLE, Md., Nov. 26, 2024 /PRNewswire/ — StarCompliance (Star), a leading SaaS provider of employee compliance technology solutions, is excited to announce the acquisition of Argus Inc. DBA Aer Compliance (Aer), a leader in cryptocurrency trading pre-clearance and post-trade monitoring solutions. This strategic acquisition positions Star clients to monitor and mitigate risk more holistically by bringing traditional securities trading, and now digital assets, into one comprehensive solution. With Aer’s unique capability to monitor at the coin and wallet level—going beyond ETFs— Star’s clients will gain unparalleled visibility and control in the rapidly evolving cryptocurrency landscape.
“By integrating Aer’s advanced technology into our platform, Star is helping our clients prepare and get ahead of emerging regulations in the fast-changing cryptocurrency space,” said Jennifer Sun, CEO of Star. “We’ve been very fortunate to work with Owen and his team over the last 18 months as partners and now look forward to our future as a combined company.”
Owen Rapaport, Aer’s co-founder and CEO, will join Star as Executive Director of Product Management, Digital Assets, continuing to develop, integrate and introduce innovative solutions for mitigating cryptocurrency and digital asset risk. This acquisition builds on Star’s leadership position in regulatory compliance, adding advanced tools to Star’s Employee Conflicts of Interest suite, tailored to the rapidly evolving world of digital assets, ensuring clients stay ahead of emerging regulatory requirements.
The Aer acquisition adds several capabilities to Star’s robust offerings, including:
- Configurable, automated employee pre-trade clearance, post trade monitoring and automated alerts for digital assets
- Elimination of manual trade reviews with the ability to identify potential violations with post-trade monitoring across 130+ exchanges and 30+ blockchains
- Recognition of undeclared employee accounts using public blockchain data
- AI technology enabling assisted reviews of marketing content for unsubstantiated statements of material facts and hypothetical performance leading to faster approvals.
“As cryptocurrency continues to mature both as a personal investment asset class and a strategic business line for financial institutions, the demand for robust compliance solutions has never been greater,” said Rapaport. “Star’s vision for advancing employee compliance aligns perfectly with Aer’s commitment to fostering trust and integrity in this evolving landscape. Together, we will deliver cutting-edge products and usher in a new era of cryptocurrency trading and compliance.”
About Aer Compliance
Aer Compliance (Aer), incorporated in Delaware as Argus Inc., is the first employee trade compliance solution for digital assets. With a customer base comprising the largest funds and market makers globally, Aer’s software brings robust controls to this world of emerging risks. As regulators increase their scrutiny of cryptocurrency, Aer is the essential way to ensure appropriate measures are in place to protect both the firm and its employees. Aer’s US federal public sector work further informs its cutting-edge approach to compliance. You can find out more about the solution at www.aercompliance.com.
About StarCompliance
StarCompliance (Star) is a leading provider of employee compliance technology solutions. Trusted for over 25 years by over a million users in 114 countries, Star’s next-generation platform and user-friendly interface delivers the data, technology, and actionable insights needed to proactively mitigate risk, monitor conflicts globally, and support complex whistleblowing regulations. Visit www.starcompliance.com to discover the comprehensive security and unparalleled assurance you need to build a culture of compliance today.
Media Contact:
Greg Tarmin
+1 917-868-7791
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/starcompliance-expands-cryptocurrency-compliance-capabilities-with-the-acquisition-of-aer-compliance-302316262.html
Fintech PR
London Blockchain Summit: Blockchain in Government and Public Sector Successfully Convenes at the House of Lords
LONDON, Nov. 26, 2024 /PRNewswire/ — London Blockchain Conference (LBC) is proud to announce that the London Blockchain Summit: Blockchain in Government and Public Sector was held in the House of Lords, UK Parliament on Monday, 25th November.
This exclusive, invite-only gathering brought together leading policymakers, technology pioneers, and industry experts to explore the critical intersection of blockchain technology and governance frameworks. The event provided a unique opportunity to discuss DEI strategies, the power of blockchain and AI to reduce bias, and how Web3 and blockchain can drive more equitable access.
The summit kicked off with an introduction by Lord Wharton of Yarm and Baroness Charlotte Owen setting the tone for an evening of meaningful conversations around the potential of blockchain.
The key highlight of the summit was the “Driving Inclusive Innovation: DEI Strategies for Blockchain, Web3, and AI in the UK” panel discussion. The panellists included:
- Dr. Maxine Room CBE, Unyted
- Jo Stansfield, Inclusioneering Ltd.
- Stephanie Ramezan, The Crypto Collective
- Chrissy Hill, Parity Technologies
The panel, moderated by Alex Stein, Conference Director for LBC, was structured into three segments: Policy Frameworks for Diversity, Equity and Inclusion (DEI), Addressing Bias in AI, and Equitable Access in Web3 and Blockchain. The discussion delved into importance of embedding DEI into tech policy frameworks, addressing systematic AI biases through ethical benchmarking, the role of blockchain in ensuring transparency and equitable access to data, the importance of partnerships in funding, digital literacy programs, and democratising access with secure technology solutions. The panellists emphasised fostering innovation through diverse leadership, leveraging data to drive impactful decisions and tackling challenges such as digital poverty and gender disparity in the tech space.
Some of the additional key discussion points were:
- Less than one-third of the tech workforce comprises women, highlighting the gender divide that must be addressed to bring more women into tech and blockchain
- Education systems need disruptive innovation to integrate technology and blockchain to foster equitable digital literacy, especially for under-represented groups
- AI and blockchain together can help reduce bias, but frameworks and accountability are needed to ensure ethical implementation and equitable access
- Organisations must adopt operational practices and blockchain-based solutions that support DEI and encourage diversity of thought to foster innovation
The panel also highlighted actionable strategies such as using procurement processes to prioritise DEI, creating inclusive AI training datasets, and establishing equitable educational opportunities across demographics. They also discussed strategic interventions that organisations should prioritise to create equitable opportunities in Web3 and blockchain.
The London Blockchain Summit was a resounding success with engaging conversations and insights from both the panellists and the audience, that are set to shape the future of blockchain technology in government and public services.
About the London Blockchain Conference
UNITING ENTERPRISE, AI & WEB3
At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, big ecosystem announcements, new product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself.
Notes to Editors:
Dr. Maxine Room, CBE, a trailblazer in education and equality, diversity, and inclusion. With an extensive career leading Further Education colleges and a passion for anti-racism and mentoring, Maxine now applies her expertise to innovative technologies like blockchain and digital literacy.
Chrissy Hill is the General Counsel at Parity Technologies and a champion for diversity of thought. Chrissy has an impressive background spanning law, investment banking, and Web3, and she’s dedicated to creating inclusive, long-lasting business solutions—always with a smile.
Stephanie Ramezan is a seasoned entrepreneur and thought leader in the digital assets space. As the former CEO of Gemini UK and one of the ‘Most Influential Women in Blockchain,’ Stephanie is passionate about empowering female founders and driving equitable opportunities in emerging tech.
Jo Stansfield is the founder of Inclusioneering and a Business Psychologist with a deep background in engineering. Jo’s focus is on embedding diversity and inclusion into the technology and engineering sectors, drawing on her experience and her groundbreaking research into gender and racial diversity.
View original content:https://www.prnewswire.co.uk/news-releases/london-blockchain-summit-blockchain-in-government-and-public-sector-successfully-convenes-at-the-house-of-lords-302316610.html
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