Fintech
Norvista Capital Corporation Provides Corporate Update
Toronto, Ontario–(Newsfile Corp. – April 6, 2020) – Norvista Capital Corporation (TSXV: NVV) (“Norvista” or the “Company”) is pleased to provide an update on the operational and liquidity status of its three core investee companies. The principals of Norvista act as directors and or officers of these investee companies and as such have been working with management and the boards of these portfolio companies to develop strategic alternatives designed to cope with the disruption in both the capital and commodity markets resulting from the COVID-19 pandemic. Norvista continues to upload relevant press releases from its investee companies to the Company’s website in order to provide ongoing detailed information on all material developments affecting our portfolio companies.
Minera Alamos Inc. continues construction work on its fully funded, 100% owned Santana open-pit, heap leach, gold project in Sonora Mexico in compliance with current governmental requirements. The site area is relatively remote from large population centres and to-date project work has been allowed to continue with appropriate measures implemented to protect the health of the workforce. Minera continues to project that it will join the ranks of North America’s gold producers in Q4 of 2020. In addition, the company’s 100% owned La Fortuna open-pit gold project, also located in Mexico, is nearing the end of the permitting process and Minera could make a construction decision on La Fortuna this year or early in 2021. As with the Santana project, La Fortuna exhibits extremely attractive economics. Minera has sufficient liquidity to fund its operations over the course of 2020 with the prospect of generating free cash flow from operations in late 2020 to fund ongoing operating costs and future project developments.
Rockcliff Metals Corporation continues to move its Manitoba copper projects forward on both permitting and development fronts with the objective of making a construction decision on one or two of its projects by year-end or in the first quarter of 2021. Rockcliff currently has combined cash and cash equivalents of approximately $13,000,000. Rockcliff is in the process of demobilizing its drilling programs as they prepare for the spring thaw that will continue through to mid-May. The decision to resume drill programs in May will be made in the context of the market at the time. In the interim the company will continue the permitting process and has commenced the preparation of a Preliminary Econmic Assessment which will combine the sequential development of Rockliff’s 100% owned Tower project and its 100% owned Rail project. The PEA, which is projected to be released in late May or June, will incorporate usage of the company’s leased 1,000+ tonnes per day mill and tailings facility in Wabowden, Manitoba. Both projects are well within trucking distance to the mill. The Board of Rockcliff will determine whether to commence preparation of a Pre-Feasibility Study upon completion of the PEA in the context of the market at that time. Any delays in the resumption of drilling and the commencement of the PFS will be done to conserve cash until capital markets normalize and the availability of development debt and equity funding returns.
Nevada Zinc Corporation continues to pursue the idea of producing zinc chemicals for the US agricultural industry as an alternative to producing and selling zinc concentrate. Mineralization from the company’s strategically located Lone Mountain zinc oxide project in Nevada lacks significant amounts of deleterious elements, making it very suitable as a potential feedstock for the production of zinc chemicals which are value add products relative to the production and sale of a zinc concentrate to be used for the production of zinc metal. The issue of supply chain security in many sectors of the US economy, including food supply, has taken on renewed importance in light of the recent disruptive effects of the COVID-19 pandemic. Approximately 60% of the zinc sulfate consumed by US growers and farmers is currently imported, mostly from China. Nevada Zinc’s recent discussions with market participants validates the company’s believe that “made in America” zinc chemicals will be well received by the agricultural industry. The Lone Mountain deposit is strategically located proximal to the $46 billion California agricultural market whose specialty crop growers use significant amounts of zinc sulfate in their operations to combat disease and improve crop yields. When the current COVID-19 restrictions are lifted the company’s activities for the duration of 2020 will consist of the continuing evaluation of concentrating and extraction processes, the shipment of ore samples to consultants to confirm the zinc sulfate production process, producing zinc sulfate samples and improving the confidence level of resources at the Lone Mountain deposit. The company is currently reviewing financing options either through the market and or with strategic partners to fund its 2020 work program.
About Norvista
Norvista is a resource-based merchant bank with an investment portfolio of public securities issued by companies engaged in precious and base metal exploration and development. The portfolio is comprised primarily of three core investee companies with operations located in Mexico, Canada and the United States. Norvista’s core investee companies are Minera Alamos Inc., Rockcliff Metals Corporation and Nevada Zinc Corporation. The Company seeks to monetize its investments through a combination of direct market sales, share disposition transactions with strategic purchasers or investee company share distributions to Norvista shareholders. All or a portion of the proceeds from the sale of investee company shares will be distributed to Norvista shareholders at the discretion of the Company’s Board of Directors.
Bruce Durham, P.Geo., Managing Director of Norvista, is a Qualified Persons as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Durham is responsible for the scientific and technical data presented herein and has reviewed and approved this news release.
For further information, please contact:
Norvista Capital Corporation
Don Christie, President & CEO
Off: (416) 504-4171
[email protected]
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
Cautionary Note Regarding Forward-Looking Statements: This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Norvista and its invstee companies to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Norvista 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. Accordingly, readers should not place undue reliance on forward-looking information. Norvista does not undertake to update any forward-looking information except in accordance with applicable securities laws.
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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