Fintech

Value Capital Trust Announces Qualifying Transaction with neuroLytixs Inc.

Published

4 years ago

May 14, 2020

Toronto, Ontario–(Newsfile Corp. – May 14, 2020) – VALUE CAPITAL TRUST. (TSXV: VLU.P) (“Value”), a capital pool company as defined under the TSX Venture Exchange (“TSXV” or the “Exchange”) policies, is pleased to announce that it has signed an arm’s length binding letter agreement (the “Agreement”) with neuroLytixs Inc. (“neuroLytixs”) pursuant to which Value has agreed to acquire, directly or indirectly, all 36,363,636 issued and outstanding common shares of neuroLytixs at a price of $0.165 per share (the “Transaction”). neuroLytixs, a private Ontario corporation, possesses an exclusive technology license from the Lawson Health Research Institute. Lawson is a research institute and affiliate of the London Health Sciences Centre and St. Joseph’s Health Care London and works in partnership with the University of Western Ontario and possesses patented technology that can detect a concussion via bio markers and molecules. The exclusive license permits neuroLytixs to commercialize Lawson’s technology throughout Canada, the United States of America and all the countries within the European Union. Value intends that the acquisition of neuroLytixs will be Value’s qualifying transaction (the “Qualifying Transaction”) pursuant to the policies of the TSXV. It is anticipated that the issuer resulting from the Transactions (the “Resulting Issuer”) will list as a Tier 2 Life Sciences Issuer on the Exchange.

The proposed concurrent financing is a non-brokered private placement at a price of $0.165 per common share for gross proceeds of $850,000 and resulting in 5,151,515 common shares issued of neuroLytixs.

The Agreement was negotiated at arm’s length and is effective as of April 20, 2020, and the Transaction is expected to close on or before June 30, 2020. The terms and conditions of the Agreement are expected to be superseded by a definitive agreement to be negotiated between the parties. Completion of the Transaction will be subject to a number of conditions, including but not limited to, acceptance by the TSXV, completion of a concurrent financing for minimum gross proceeds $400,000 up to a maximum of $1,000,000, and receipt of all directors, shareholder and requisite regulatory approvals in respect of the Transaction and satisfactory due diligence investigations. There can be no assurance that the Transaction will be completed as currently proposed or at all.

Value will provide further details in respect of the Transaction in due course by way of a comprehensive news release. Trading in the units of Value will remain halted per Exchange Policy.

All information contained in this news release with respect to Value and neuroLytixs was supplied by the parties respectively, for inclusion herein, without independent review by the other party and each party and its directors and officers have relied on the other party for any information concerning the other party.

Investors are cautioned that, except as disclosed in the management information circular or filing 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. Trading in the securities of a capital pool company should be considered highly speculative.

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

For further information:

Nathan Smith
Value Capital Trust
Trustee
Email: [email protected]

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected” “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”. “estimates”, “believes” or intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate, among other things, to: the Transaction and certain terms and conditions thereof; the business of neuroLytixs and the Resulting Issuer, the concurrent financing; the listing of the Resulting Issuer units on the Exchange; shareholder, director and regulatory approvals; and future press releases and disclosure. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive shareholder, director or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Value assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The 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 may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55886

Fintech

CARD91 Launches Revolutionary 3-in-1 Card Platform at Global Fintech Fest 2024: Pioneering ID and Payment Integration

Published

20 hours ago

September 19, 2024

Wladimir P.

card91-launches-revolutionary-3-in-1-card-platform-at-global-fintech-fest-2024:-pioneering-id-and-payment-integration

CARD91 proudly announces the launch of its 3-in-1 card platform at the prestigious Global Fintech Fest 2024. This innovative solution merges an ID Card, Access, and Prepaid Card functionalities, including NCMC, into one streamlined product, tailored for the modern needs of Corporate Employees and Students alike. Apart from these use cases, this card can be used in multiple scenarios like proper management of large-scale events, in medical institutions, shopping malls, and many more.

Unlock the Future with a Single Tap

This 3-in-1 card platform is set to redefine how organisations and their employees handle professional and financial transactions. By integrating multiple services into one card, users can now enjoy unparalleled convenience, improved security, and increased flexibility.

Platform Capabilities:

Mobile-First Design: Optimised for mobile access, ensuring a seamless experience for both users and issuers.
User-Friendly Interface: Intuitive portals and customisable dashboards simplify management, enhancing operational efficiency for corporates.
Regulatory Compliance: Fully aligned with RBI guidelines, ensuring secure, compliant transactions.
Enhanced Security: Equipped with numberless EMV cards, multi-factor authentication, and PCI DSS-compliant data storage for robust fraud protection.
Configurable Integration: Open APIs allow easy adaptation and integration with various business systems.
End-Use Control: Customisable settings for transaction limits, whitelisting/blacklisting MCCs/MIDs for enhanced expenditure control.

Card Benefits:

Multipurpose Functionality: A unified solution for both business and personal use, simplifying everyday interactions.
Convenient Mobility: NCMC-enabled, allowing users to skip metro queues and streamline daily commutes.
Environmentally Friendly: Reduces carbon footprint by consolidating multiple functions into one eco-friendly card.

A New Era of Integration and Convenience

“We are thrilled to introduce this pioneering 3-in-1 card platform. This product represents our vision of the future, where technology seamlessly integrates into our everyday lives, from unlocking office doors to making secure online purchases and tapping to pay at the store. This launch also signifies our preparedness to enable APAAR Cards for students,” said CARD91 CEO, Ajay Pandey.

He added, “This launch marks a significant step forward in digital convenience, and we extend our sincere thanks to NSDL Payments Bank and NPCI for their support in making this possible.”

The post CARD91 Launches Revolutionary 3-in-1 Card Platform at Global Fintech Fest 2024: Pioneering ID and Payment Integration appeared first on HIPTHER Alerts.

Fintech

Ibanera Teams Up with Visa to Drive Digital Payment Solutions

Published

2 days ago

September 18, 2024

Adrienn Sarkany

ibanera-teams-up-with-visa-to-drive-digital-payment-solutions

Leading digital banking platform Ibanera, spearheaded by CEO Michael Carbonara, announced today its collaboration with Visa, a world leader in digital payments. This opportunity will enable Ibanera to leverage Visa’s card issuing capabilities to support its clientele’s banking and finance needs.

Ibanera’s integration with Visa’s payment network will enhance accessibility to domestic and cross-border payments for businesses and their customers. The collaboration provides Ibanera with the scalability to grow its fintech enablement services to meet growing customer demand.

Michael Carbonara, CEO of Ibanera, emphasized the significance of this collaboration for the growth of the payment ecosystem: “Navigating the complexities of regulation and payments can be challenging. This is why we are excited about our strong collaboration with Visa, which will drive innovation and provide simplified solutions as we focus on the digital and creator economies.”

Ibanera’s collaboration with Visa provides an ecosystem not only for global payments but also leverages Visa’s advanced security and fraud protection systems, such as Visa’s zero liability policy for unauthorized transactions, giving cardholders peace of mind through trust in the cards utilized.

Visa Senior Vice President of Digital Partnerships, James Schinella says, “Our alliance with Ibanera underscores our shared commitment to enhancing the payments ecosystem. Our joint efforts will provide advanced security and fraud protection, ensuring peace of mind for cardholders.”

The post Ibanera Teams Up with Visa to Drive Digital Payment Solutions appeared first on HIPTHER Alerts.

Fintech

Gaia-X Introduces the Compliance Document to Enable and Increase Trust, Security, and European Sovereignty in Digital Ecosystems

Published

1 week ago

September 9, 2024

Peter Tolan

gaia-x-introduces-the-compliance-document-to-enable-and-increase-trust,-security,-and-european-sovereignty-in-digital-ecosystems

Gaia-X, a leading European initiative aimed at establishing a secure, transparent, and interoperable digital infrastructure, has unveiled its Compliance Document. This essential framework defines the standards that data providers, data consumers, data exchanges, and digital infrastructures must follow to participate in the Gaia-X ecosystem. Aligned with the core European values of transparency, data protection, and cybersecurity, the document promotes innovation and competitiveness while ensuring that organisations operate globally under clear, standardised rules.

Why Gaia-X Compliance Matters

The Gaia-X Compliance Document is not just a set of rules but a foundational guide for creating trust in the evolving digital marketplace. It focuses on three key areas:

Openness and Transparency: Gaia-X supports global efforts to create interoperable data spaces built on federated cloud infrastructures. By ensuring transparency in operations, data handling, and service processes, Gaia-X fosters trust across the entire ecosystem, ensuring stakeholders have clear insight into the services they use.
Security and Data Protection: In compliance with GDPR and other European regulations, such as the Data Act and Data Governance Act, Gaia-X ensures that personal and non-personal data are handled securely. Service providers are required to implement strong privacy protections and technical safeguards, offering businesses and users peace of mind.
European Sovereignty: At its core and especially with its Label Level 3, Gaia-X guarantees European control over digital infrastructure, ensuring that services comply with European laws and standards. However, Gaia-X is designed with global interoperability in mind, providing tools and frameworks that can be adapted to meet the regulations of other regions worldwide.

Key Components of Gaia-X Compliance

1. Standards-Based Approach: The Gaia-X compliance framework builds on globally recognised standards, ensuring a high level of security and compliance across industries.

2. Label System for Differentiation: Gaia-X has introduced a clear labelling system to categorise services based on their level of compliance:

Gaia-X Standard Compliance: A universal set of standards designed to apply to all types of providers worldwide.
Gaia-X Label Level 1: Entry-level compliance with standard data protection and security following European laws.
Gaia-X Label Level 2: Higher-level data protection and security standards following European laws and widely based on certifications.
Gaia-X Label Level 3: The highest compliance level for services requiring exceptional data handling, security, and legal control for European providers only.

These labels provide clarity for both providers and users, ensuring transparency in service offerings.

3. Trust Anchors and Continuous Validation: Gaia-X ensures ongoing trust and compliance through its Trust Framework, powered by the Gaia-X Digital Clearing House (GXDCH). This system continuously validates verifiable credentials, allowing automated trust assessments across the ecosystem.

Benefits for Ecosystem Participants

The Gaia-X Compliance offers significant advantages to both service providers and users:

For Users: Businesses and governments benefit from greater choice, transparency, and control over the digital services they utilise. With Gaia-X’s clear compliance standards, users can confidently select services that meet their specific security, privacy, compliance or sovereignty needs, allowing them to select their preferred Label Level while maintaining flexibility and avoiding vendor lock-in.
For Providers: Gaia-X offers a clear path to certification and compliance, enabling companies to demonstrate adherence to top-tier security and privacy standards. By aligning with European regulations, providers enhance their credibility, position themselves as digital market leaders, and answer to market demand. The standardised use of the Gaia-X Ontology ensures that cloud providers can achieve true interoperability across ecosystems.

The Gaia-X Compliance Document highlights Europe’s commitment to digital sovereignty, security, and trust, providing a foundation for a trusted digital marketplace aligned with European values and laws. It serves as a blueprint for global organisations to operate securely, transparently, and interoperably.

The post Gaia-X Introduces the Compliance Document to Enable and Increase Trust, Security, and European Sovereignty in Digital Ecosystems appeared first on HIPTHER Alerts.