Fintech PR

JKS RESOURCES INC. announces PROPOSED TRANSACTION TO ACQUIRE YUKON PROPERTIES

Published

10 months ago

January 15, 2024

VANCOUVER, BC, Jan. 15, 2024 /PRNewswire/ — JKS Resources Inc. (the “Company” or “JKS“) (CSE: JKS) announces that it has entered into a definitive purchase and sale agreement (the “Agreement“) dated January 12, 2024 with 18526 Yukon Inc. (the “Vendor“), an arm’s length party, which sets out the general terms and conditions pursuant to which the Company will acquire all of the issued and outstanding common shares of a wholly-owned subsidiary of the Vendor (the “Target“) from the Vendor in exchange for common shares of the Company and cash, as further detailed below (the “Transaction“). The Target will own the AZ, Barite Mountain, Birch, Carter Gulch, Clea, Eva, Expo, Faro North, Fox, Gem, Ketza, Nut, Pete, Risby and Talbot claims and the Venus claims and crown grants located in the Yukon (the “Properties“) for a total land package of approximately 18,000 hectares.

If completed, the Transaction will constitute a “fundamental change” of JKS pursuant to the policies of the Canadian Securities Exchange (the “CSE“). As a result, the Transaction requires approval of the majority of the shareholders of the Company. Upon completion of the Transaction, JKS intends to be listed on the CSE as a mining issuer and will principally focus on the exploration and development of the Properties. The resulting issuer that will exist upon completion of the Transaction (the “Resulting Issuer“) will continue to operate under a name to be determined by the Company.

The Transaction is an arm’s length transaction. Upon closing of the Transaction (the “Closing“) and the Financings (as defined below), it is expected that current shareholders of JKS will hold approximately 29% of the common shares of the Resulting Issuer, current shareholders of the Vendor will hold approximately 32% of the common shares of the Resulting Issuer and new shareholders as a result of the Financings will hold approximately 39% of the common shares of the Resulting Issuer.

Under the rules of the CSE, the Company’s shares will remain halted until closing of the Transaction.

Terms of the Transaction

Pursuant to the Agreement, the Company has agreed to acquire the Properties from the Vendor by acquiring all of the issued and outstanding common shares of the Target for total consideration of (a) 25,000,000 common shares of the Company, subject to a statutory four month hold period under applicable securities laws and any escrow requirements imposed by the CSE, and (b) $2,000,000 in cash on Closing. The Vendor will retain a royalty equal to 2.5% of the net smelter returns in respect of each of the Properties, subject to a right of repurchase of 0.5% of each royalty at a cost of $1,000,000 per royalty payable in gold or cash.

The Vendor is in the process of preparing a current technical report on Risby, which is expected to be the mineral property material to the Resulting Issuer. Further and more fulsome disclosure will be provided in subsequent news releases. The technical report will be filed on the Company’s SEDAR+ profile once it has been finalized.

Financings

Prior to the completion of the Transaction, JKS expects to complete (a) a non-brokered private placement of 12,500,000 subscription receipts (the “Share Receipts“) of the Company for gross proceeds of approximately $3,750,000 (the “Share Financing“) with each Share Receipt automatically being exercised into one common share of JKS upon completion of the Transaction, and (b) a best efforts brokered private placement of 17,500,000 subscription receipts (the “Unit Receipts“) of the Company for gross proceeds of approximately $8,750,000 (the “Unit Financing” and, together with the Share Financing, the “Financings“), with each Unit Receipt automatically being exercised into one common share of JKS and one-half of one common share purchase warrant exercisable for a period of three years at a price to be determined in the context of the market. The proceeds of the Financings will be used for exploration and related expenditures respecting the Properties and working capital purposes. Further details regarding the Financings, including confirmation of pricing, will be included in a subsequent news release(s) once additional details become available.

Conditions of Closing

Completion of the Transaction will be subject to certain conditions, including but not limited to: (a) the receipt of all necessary approvals of the boards of directors of JKS and the Vendor; (b) the receipt of approval of the shareholders of JKS in accordance with applicable laws, including the rules of the CSE; (c) the receipt of all required consents and approvals, including without limitation, approval of the Transaction by the CSE; (d) the completion by JKS of the Financings such that the Resulting Issuer will have a minimum of $10,000,000 following expenses related to the Transaction; (e) the completion by the Target of audited and unaudited financial statements and related financial information as may be required, and (f) the completion of satisfactory mutual due diligence.

Board of Directors and Management

Upon completion of the Transaction, the Company will consider changes to the Company’s board and management as may make sense for the business of the Company going forward.

Further Information

Investors are cautioned that any information released or received with respect to the Transaction in this news release may not be complete and should not be relied upon. Further details about the completion of the Transaction and the Resulting Issuer will be provided as they become available.

Completion of the Transaction is subject to a number of conditions, including but not limited to, CSE and shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. 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 listing 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.

The CSE has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

The securities to be issued in connection with the Transaction 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 may not be offered or sold within the U.S. or to U.S. Persons (as 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 an exemption from such registration is available.

About JKS Resources Inc.

JKS is engaged in the business of exploration of gold focused mineral properties. JKS holds an option to acquire a 100% interest in the Sowchea Property, subject to a 1.0% gross over-riding royalty interest in the revenue from the sale of production (the “GORR“). JKS has the right to purchase half of the GORR for $1,000,000 at any time. The Sowchea Property consists of three mineral claims covering approximately 2,270 hectares in the Omineca Mining Division of Central British Columbia.

For more information, please contact:
Gunther Roehlig
Chief Executive Officer, President and Director
T: (604) 617-5421
Email: [email protected]

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including statements about the Company’s completion of the Transaction as well as its future plans and intentions. 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. Such factors include, among other things: risks and uncertainties relating to the Company’s ability to complete the proposed Transaction and the Financings; the anticipated business activities of the Resulting Issuer; and other risks and uncertainties. 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 news release are based upon what management believes to be reasonable assumptions, the Company 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 news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

View original content:https://www.prnewswire.co.uk/news-releases/jks-resources-inc-announces-proposed-transaction-to-acquire-yukon-properties-302035102.html

Fintech PR

MarketsandMarkets Appoints Milan Rao as Chief Operating Officer and Chief Revenue Officer, Strengthening Apex Leadership in Line with Ambitious Growth Plans

Published

2 hours ago

November 25, 2024

CISION (PR Newswire)

marketsandmarkets-appoints-milan-rao-as-chief-operating-officer-and-chief-revenue-officer,-strengthening-apex-leadership-in-line-with-ambitious-growth-plans

DELRAY BEACH, Fla., Nov. 25, 2024 /PRNewswire/ — MarketsandMarkets, a prominent Indian-origin startup recognized by Forbes as one of ‘America’s Best Management Consulting Firms 2023’, has appointed Milan Rao as its Chief Operating Officer (COO) and Chief Revenue Officer (CRO). Milan’s appointment comes as the company continues to scale its innovative AI-based knowledge platform and consulting capabilities and strengthens its apex leadership team, in preparation for its future growth trajectory.

Milan has joined MarketsandMarkets from a distinguished career in the industry, bringing over 25 years of expertise in driving operational excellence and revenue growth at global firms. He has held leadership roles at top-tier organizations, such as Wipro, GE Healthcare and Airtel, where he was instrumental in spearheading transformation strategies for clients in diverse sectors. Milan also has extensive experience in scaling startups and working with PE firms in accelerating growth for start-ups in high-potential markets.

Sandeep Sugla, Founder and CEO of MarketsandMarkets, expressed his enthusiasm for Milan’s appointment: “We are thrilled to partner with Milan in this leadership role. His wealth of experience across large global firms and start-ups is a perfect fit to drive our growth and scale ambitions, globally. Milan’s expertise will be invaluable, as we continue our mission to enable businesses to identify and capitalize on megatrends, such as AI, clean-tech, IoT, and blockchain, which will create transformative opportunities across industries like Technology, IT, Semiconductors, Healthcare, Life Sciences, Energy, Chemicals, Industrial and Automotive sectors.”

Milan’s leadership will be critical in navigating the ongoing global disruptions caused by these megatrends. According to MarketsandMarkets, new revenue sources amounting to approximately USD 25 trillion are expected to emerge by 2030, creating significant growth potential for clients. His dual role as COO and CRO will see him overseeing operational efficiencies, while driving sustainable revenue growth through innovative market strategies and partnerships.

“I’m excited to have joined a company that is at the forefront of identifying and analyzing real-time megatrend impacts across major sectors,” said Milan. “MarketsandMarkets’ AI-based platform is unique in its ability to provide actionable insights to global leaders, enabling them to adapt to and benefit from disruptive shifts. I look forward to building on this foundation and helping our 13,000 global clients stay ahead of the curve in an increasingly dynamic business environment.”

Milan holds an MBA from IIM Calcutta and a bachelor’s degree in computer science from IIT, BHU-Varanasi, and has undertaken an advanced management program from Harvard Business School. He is an active supporter of several social initiatives, focusing on education and healthcare for the underprivileged.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms, as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines — TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies — helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact

Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/

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Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

View original content:https://www.prnewswire.co.uk/news-releases/marketsandmarkets-appoints-milan-rao-as-chief-operating-officer-and-chief-revenue-officer-strengthening-apex-leadership-in-line-with-ambitious-growth-plans-302315198.html

Fintech PR

VERMEG Announces the Sale of its RegTech division “Agile” to Regnology

Published

2 hours ago

November 25, 2024

CISION (PR Newswire)

AMSTERDAM, Nov. 25, 2024 /PRNewswire/ — VERMEG, a leading provider of software solutions for the financial services industry, backed by Charterhouse Capital Partners, announces today it has entered into an agreement to sell its RegTech division “Agile” to Regnology, a renowned global expert in regulatory compliance. This strategic transaction aligns with VERMEG’s long-term vision to strengthen its focus on its core areas of expertise, Collateral Management and Insurance, while ensuring a promising future for the Agile team under Regnology’s leadership.

For decades, asset servicing has been a cornerstone of VERMEG’s operations, with a comprehensive portfolio that includes corporate actions (OST), Collateral Management, mutual funds (OPCVM), and life insurance. These core offerings have solidified VERMEG’s reputation as a trusted partner to financial institutions worldwide.

The acquisition of Lombard Risk in 2018 marked a pivotal moment in VERMEG’s history, enabling the company to expand into Anglo-Saxon markets and establish itself as the global leader in Collateral Management. This transformation was driven by the complementarity between VERMEG’s and Lombard Risk’s product portfolios and supported by the center of expertise established in Tunisia, which continues to play an instrumental role in VERMEG’s success.

Agile, VERMEG’s regulatory business division, has represented a distinct and specialized segment of the company, accounting for approximately 10% of its workforce. Over the years, Agile has evolved into a best-in-class modular and scalable SaaS platform that delivers end-to-end regulatory reporting solutions, from data ingestion, through calculation to last-mile reporting. Positioned as a high-performing entity in the complex regulatory environment, Agile has garnered industry recognition for its innovation and capabilities.

Through this transaction, Agile will join Regnology, a globally recognized leader in regulatory reporting and supervisory processes. This move enables Regnology to expand its international footprint and leverage the expertise and talent cultivated in Tunisia. The strategic partnership ensures service continuity while creating exciting opportunities for Agile and its team.

For VERMEG, the transaction represents a significant milestone in its strategy to concentrate on its core strengths. By consolidating its leadership in Collateral Management and Insurance, VERMEG will mobilize resources to pursue growth and deliver even greater value to its clients. This strategic realignment underscores VERMEG’s commitment to innovation and excellence in financial technology.

“This transaction aligns with VERMEG’s strategy to ensure long-term sustainability and success for both the company and its employees,” said Badreddine OUALI, co-CEO and Founder. At the same time, VERMEG can focus on strategic initiatives in its core Banking & Market Infrastructure and Insurance divisions, leveraging additional resources to deliver even greater value to our clients.”

About VERMEG

Founded in 1993, VERMEG provides software solutions to over 500 blue-chip clients in more than 40 countries across the banking, insurance, and wealth management industries. The company’s high-quality platform offers best-in-class tools to automate processes and drive digitalization in financial services. Headquartered in Amsterdam with offices in 16 countries, VERMEG employs over 1,000 people worldwide. For more information, visit www.vermeg.com.

About Regnology

Regnology is a leading global provider of innovative solutions for supervisory, regulatory and tax reporting. Over 35,000 financial institutions, 70 regulators and tax authorities rely on our solutions to streamline their processes, enhance data quality, and improve efficiency. Building on our unified data ingestion model, Regnology is uniquely positioned to support regulators in data collection and supervisory processes, and the regulated across the full regulatory reporting value chain. Leveraging the expertise of 900+ employees in 16 countries, we help clients navigate the complexities of an ever-evolving, data-intensive regulatory landscape.

For more information, visit www.regnology.net/.

Logo – https://mma.prnewswire.com/media/2566692/VERMEG_Logo.jpg

Contact:

Donia SAHLI [email protected]

View original content:https://www.prnewswire.co.uk/news-releases/vermeg-announces-the-sale-of-its-regtech-division-agile-to-regnology-302315472.html

Fintech PR

Trust Wallet Integrates Binance Connect to Supercharge Fiat-to-Crypto Transactions, Expanding Access for Millions

Published

2 hours ago

November 25, 2024

CISION (PR Newswire)

trust-wallet-integrates-binance-connect-to-supercharge-fiat-to-crypto-transactions,-expanding-access-for-millions

DUBAI, UAE, Nov. 25, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet trusted by over 140 million users, has integrated Binance Connect, Binance‘s official fiat-to-crypto gateway, to streamline access to digital assets and enhance the user journey. This integration offers a seamless experience with direct access to peer-to-peer (P2P) services and robust fiat-to-crypto solutions, all within Trust Wallet’s efficient environment.

With Binance Connect, Trust Wallet users can now access over 300 cryptocurrencies at competitive rates, supported by Binance’s unparalleled liquidity and market reach. This integration streamlines the fiat-to-crypto experience, allowing transactions via credit and debit cards, bank transfers, Binance wallet balance, and Binance P2P trading.

Through this integration, Trust Wallet is enabling users to access a broad range of crypto services from trusted partner merchants, reducing barriers and making it easier for millions to connect to the world of Web3.

Trust Wallet currently supports seven fiat on-ramp solutions, and the addition of Binance Connect supercharges Trust Wallet’s capabilities offering its users a seamless, cost-effective, and accessible way to buy, sell, and manage cryptocurrencies directly within the wallet.

Key Benefits of Binance Connect Integration:

Global Accessibility: Binance Connect expands on-ramp coverage to underserved regions, providing users worldwide with more ways to access cryptocurrencies.
Effortless Onboarding: Binance KYC-verified users enjoy faster access to P2P and fiat services within Trust Wallet, eliminating the need for additional checks.
Cost Efficiency: P2P transactions via Binance Connect are generally more affordable than traditional payment methods, further promoting crypto adoption. Competitive P2P transaction fees make crypto more accessible and encourage regular use.
Robust Currency Support: The integration supports 100+ fiat currencies, 300+ cryptocurrencies, and over 300 payment methods, including both traditional and alternative options.

Eowyn Chen, CEO of Trust Wallet, emphasized the significance of this integration:

“At Trust Wallet we keep working to make Web3 accessible to everyone. By collaborating with Binance Connect, we’re simplifying the journey into the on-chain world, particularly for users in regions where traditional financial infrastructure channels fall short. This integration is a game-changer for empowering self-custodial wallet users globally.”

“Trust Wallet’s integration of Binance Connect demonstrates the power of collaboration in advancing the Web3 ecosystem,” says Thomas Gregory, Vice President of Fiat at Binance. “Together, we are simplifying the user experience for millions worldwide, offering seamless transactions that make digital assets accessible, especially in regions where traditional financial systems face limitations.”

Trust Wallet users can begin using Binance Connect immediately by selecting it as their preferred payment method within the app. From setting up the wallet to completing transactions, the process is intuitive and seamless, regardless of experience level.

To explore the benefits of Binance Connect within Trust Wallet, download Trust Wallet today.

About Trust Wallet

Trust Wallet is the secure, self-custody Web3 wallet and gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it possible for millions of people around the world to experience Web3, access dApps, store and manage their crypto and NFTs, as well as buy, sell, and stake crypto to earn rewards — all in one place and without limits.

About Binance Connect

Powered by Binance, Binance Connect is a comprehensive fiat-to-crypto solution that provides access to Binance’s global liquidity and an extensive array of payment methods. Its mission is to simplify access to cryptocurrencies and Web3 services worldwide.