VANCOUVER, British Columbia, Jan. 29, 2020 (GLOBE NEWSWIRE) — RevoluGROUP Canada Inc. (TSX-V: REVO) (“the Company”) is pleased to announce that the Company oversubscribed from CDN$1,000,000 to CDN$1,069,400 and closed the non-brokered private placement consisting of 7,129,333 units (“Units”) at a purchase price of CDN$0.15 per Unit and raised gross proceeds of CDN$1,069,400.00. Each Unit consists of one common share (“Common Share”) of the Company and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to acquire one additional common share (a “Warrant Share”) of the Company at an exercise price of CDN$0.20 for a period of one year from the closing date of the private placement.
The Company paid finder’s fees totaling CDN$9,198.00 and issued 61,320 finder warrants to arm’s-length parties. Each finder warrant is exercisable at a price of CDN$0.20 per share for a period of one year from the closing date of the private placement.
All securities issued in conjunction with this private placement are subject to a hold period expiring four months plus a day after the date of their issuance.
The Company intends to utilize the net proceeds from the private placement to expand its newly incorporated U.S subsidiary RevoluGROUP USA Inc., increase marketing of its revenue verticals in 2020 and, for general operating expenses. All securities are subject to a four-month-and-one-day hold period.
A portion of the Private Placement constitutes a “related party transaction” within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61‑101 ‑Protection of Minority Security Holders in Special Transactions (“MI 61‑101”) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61‑101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61‑101 in respect of related party participation in the Private Placement.
As of the date hereof, after giving effect to this acquisition, Mr. Marshall, CEO RevoluGROUP Canada Inc. owns and controls 24,283,333 shares representing 15.36% of the issued and outstanding shares on a non-diluted basis and 27,616,666 shares representing 16.71% of the issued and outstanding on a diluted basis. Prior to the date hereof, Mr. Marshall owned 20,950,000 shares representing 13.1% of the issued and outstanding shares. The Units were acquired by Mr. Marshall for investment purposes.
A copy of the early warning report, in connection with the matters set forth above, may be obtained on SEDAR under RevoluGROUP Canada Inc.
The Company’s flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector specific, technology of which, the resulting source code is the property of the Company. RevoluPAY’s built-in features include: Leisure payments, Travel Payments, Retail and Hospitality payments, Remittance Payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L operates under European E-money – Directive 2009/110/EC through a licensed electronic money institution or EDE Banking Licensed entity. RevoluGROUP Canada Inc. controls 5 wholly owned subsidiaries on 4 continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Blockchain Systems, and Fintech app sectors. Click here to read more.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO) visit the Company’s website at www.RevoluGROUP.com. The Company has approximately 151,009,939 shares issued and outstanding.
RevoluGROUP Canada Inc.
For further information contact:
RevoluGROUP Canada Inc.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Peter Stewart Named Executive Vice President of North America for Ingenico Group
Ingenico Group (Euronext: FR0000125346 – ING), the global leader in seamless payments, today announced that Peter Stewart has been named the executive vice president of North America. Peter reports to Matthieu Destot, executive vice president, B&A business unit and is a member of the company’s B&A Management Committee. Peter brings over 25 years of experience working with technology companies, including the last four years at Ingenico Group. His experience spans across different disciplines, including strategy, sales contract management, manufacturing, supply chain and human resources, among other areas.
“Peter brings a wealth of global leadership experience working with technology companies, both in fintech and the larger industry, that Ingenico benefits from greatly. I, along with the Executive Committee, am excited as he begins this new role leading the region,” Destot said. “His technology background and track record, coupled with his understanding of how Ingenico helps elevate the customer experience, will drive success as we continue to expand our presence in the region.”
Peter previously held the role of chief financial officer of the B&A business unit for Ingenico and formerly served as chief financial officer for the North America Region for nearly two years. Before that, he spent eight years at ADVA Optical Networking, most recently as vice president of finance, corporate development, treasury & risk management. Other previous companies include Lydian Data Services and ADP, among others.
“I am honored and humbled to be appointed the next leader of the North America Region, and I’m very excited by the opportunity that we have in front of us,” Stewart said. “We will continue to build upon our position of thought leadership, our market strength and, most importantly, our ability to execute our strategy across both our Retail and B&A business unit activities.”
SOURCE Ingenico Group
Global Blockchain Market Outlook and Forecasts 2020-2025 – Overview of Service Type, Applications, Solutions and Industry Verticals
Dublin, Feb. 17, 2020 (GLOBE NEWSWIRE) — The “Blockchain Technology Market by Service Type, Applications, Solutions, Industry Verticals 2020 – 2025” report has been added to ResearchAndMarkets.com’s offering.
This report evaluates the technology, leading companies and solutions in the evolving blockchain ecosystem. The report evaluates current and anticipated use cases for blockchain and assesses the market potential globally, regionally, and segmented by deployment type and industry vertical for the period 2020 to 2025.Blockchain as a Service (BaaS) represents a key service offering for many market segments as a mean of solution introduction and scalability via a cloud services model. BaaS service providers will include different types of services such as customize blockchain applications for cloud services, specific industries, custom consulting, and integration with existing systems.
Key Topics Covered:
1 Executive Summary
6 Conclusions and Recommendations
21, Inc.Abra, Inc.AccentureAlphaphoint CorporationAmazonBaiduBitfury GroupBlockchain Global LimitedBlockCypher, Inc.BloqBTL Group (Blockchain Tech Ltd.)Chain, Inc.Circle Internet Financial LimitedCoinbaseCoinfirm Ltd.ConsenSys Systems (ConsenSys)CreditsDell TechnologiesDeloitte Touche TohmatsuDigital Asset HoldingsDigitalx Ltd. (Digital Cc Ltd.)DMG Blockchain SolutionsEarthportFactom Inc.Fidelity InvestmentsGlobal Arena Holding, Inc. (GAHC)HoloHPHyperLedgerIBM CorporationIntelygenzIOTALibra Services, Inc.Linux FoundationMicrosoft CorporationMonaxNASDAQOverstockR3RippleShoCardTecentFor more information about this report visit https://www.researchandmarkets.com/r/ypsgh7About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.CONTACT: ResearchAndMarkets.com
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UP Fintech Underwrites 12 Chinese ADR IPOs in 2019
More than 30 Chinese companies listed on U.S. exchanges in 2019 and 12 of them had Tiger Brokers (NZ) Limited (“TBNZ”), a wholly owned subsidiary of UP Fintech Holding Limited (NASDAQ: TIGR) (together with TBNZ and other affiliates, “UP Fintech”), act as one of the underwriters for their offerings.
In 2015, UP Fintech introduced its proprietary trading platform, Tiger Trade, which provides global Chinese investors with seamless access to U.S. equities and other global securities. In the past few years, UP Fintech’s focus on innovation and superior user experience has enabled it to grow rapidly; according to iResearch, the firm has become the largest online broker for global Chinese to invest in U.S. equities.
UP Fintech is also expanding its institutional business, particularly investment banking and equity underwriting in the TMT space through its wholly owned subsidiary, TBNZ. Since 2017, UP Fintech has participated in many high profile Chinese Tech IPOs, including those of Chinese search engine Sogou Inc. (SOGO), ecommerce giant Pinduoduo (PDD), video streaming platform iQIYI (IQ), and online education company Youdao (DAO).
UP Fintech’s growing investment banking business has given the firm the opportunity to closely cooperate with a diverse range of corporate clients, giving it a better understanding of the challenges faced by Chinese companies that have held a U.S. IPO. UP Fintech is expanding its existing portfolio of corporate services to meet the needs of its growing client base.
“Chinese companies from different industries face a variety of difficulties through the IPO process in the U.S. On one hand, many Wall Street institutions are unfamiliar with relatively lesser-known Chinese companies, which may result in less allocation of resources to these companies. On the other hand, Chinese companies may not possess the requisite expertise to efficiently manage a new issue in the U.S. market. This is where our unique business model and market understanding distinguish our firm: we are ourselves a young technology company, so compared to traditional banks, we are naturally more connected to these emerging companies and understand their needs better. In addition we may leverage our growing customer base of institutional and retail investors to provide a huge demand for the new issuance,” said Mr. Wu Tianhua, CEO of UP Fintech.
Expanding its portfolio of corporate services is a key strategy of UP Fintech’s development, so the firm has acquired new licenses to support its expansion. In October 2019, UP Fintech’s wholly-owned subsidiary, US Tiger Securities, Inc., received approval for conducting new businesses, including underwriting, private placements, mergers and acquisitions, mutual fund retailing, as well as selling group participant services from the Financial Industry Regulatory Authority (“FINRA”). Within two months of receiving these licenses, UP Fintech and its subsidiaries had participated in seven more Chinese ADR IPOs in the U.S.
With a staff that draws from its rich range of experiences in investment banking and financial services, UP Fintech is able to assist potential issuers on every step of their IPO planning. UP Fintech’s Corporate Services team advises issuers on capital structure, equity story, and the ECM/Sales team is able to connect issuers with over 200 institutional investors to build demand for the IPO.
In order to develop a comprehensive suite of corporate services for client firms, UP Fintech also provides ESOP management services to corporate clients, enabling them and their employees to conveniently manage their equity incentive schemes. After the IPO, UP Fintech assists issuers’ ESOP participants open brokerage accounts on its platform, which creates a new channel for client acquisition. Furthermore, after a successful listing, UP Fintech may offer other financial services to corporate clients to support secondary offerings or investor relations efforts.
In 2019, UP Fintech and its subsidiaries participated in 18 U.S. IPOs, and UP Fintech served as an underwriter in 12 of these IPOs. According to Bloomberg and SEC Edgar Data, UP Fintech and its subsidiaries led U.S. IPO underwriting of Chinese companies by deal count among brokerages in 2019.
In conclusion, UP Fintech’s growing corporate services are key to its strategy to create a comprehensive financial services platform that fulfills the needs of client companies at every step of their development and that also provides individual investors unparalleled access to global securities markets. Expect more news from UP Fintech as it helps a generation of Chinese companies go global.
SOURCE UP Fintech
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