Fintech
Lendified Announces First Tranche Closing of Private Placement and Appointment of New Board Member
Toronto, Ontario–(Newsfile Corp. – August 21, 2020) – Lendified Holdings Inc. (TSXV: LHI) (formerly, Hampton Bay Capital Inc.) (the “Company” or “Lendified“) announces it completed the first tranche of its previously announced offering of units of the Company (“Units“) consisting of 54,738,064 Units at a price of $0.015 per Unit for aggregate gross proceeds of $821,071 (the “Offering“). Each Unit is comprised of one common share (“Shares“) in the capital of the Company and one common share purchase warrant (“Warrants“) exercisable at $0.05 per common share until August 21, 2023.
The securities of the Company are subject to a failure-to-file cease trade order (“FFCTO“) issued by the Ontario Securities Commission (“OSC“) on July 9, 2020. The first tranche closing of the Offering was effected pursuant to a partial revocation order of the OSC issued August 14, 2020 (the “Partial Revocation Order“), as announced by the Company in its press release of August 17, 2020. The securities of the Company will remain subject to the FFCTO until such order is fully revoked, and the granting of the Partial Revocation Order by the OSC does not guarantee the issuance of a full revocation order in the future. The proceeds derived from the sale of the Units will be used for payment of certain expenses of the Company associated with bringing the public record into compliance, including employee payrolls, trade payables, general office and administration expenses and professional fees.
All of the securities issuable in connection with the Offering are subject to a hold period expiring four months and one day after the date of issuance in accordance with TSX Venture Exchange (“TSXVE“) rules and Canadian securities laws.
The Company has been granted an extension by the TSXVE to complete a second and final tranche of the Offering no later than August 28, 2020. There can be no assurances that the Company will be able to complete a second tranche of the Offering. The Offering is subject to the final approval of the TSXVE, and to all regulatory approvals.
The securities being offered pursuant to the Offering 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 U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities being offered pursuant to the Offering in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Lendified is also pleased to announce Peter Ostapchuk has been appointed to the Board of Directors of the Company. Mr. Ostapchuk has over 29 years of private and public sector financial advisory, governance, restructuring, and financial performance management expertise in leadership roles.
The Board of Directors of the Company is now comprised of Troy Wright, Perry Dellelce, Kevin Clark and Peter Ostapchuk
EARLY WARNING
Hybrid Financial Ltd. (the “Acquiror“) has acquired beneficial ownership or control or direction of an aggregate 20,000,000 Shares of the Company (representing 13.34% of the class of outstanding Shares on an undiluted basis) and 20,000,000 Warrants (together with the Shares, representing 26.69% of the class of Shares on a partially diluted basis) from the treasury of the Company. Each Share is entitled to one vote at any duly called meeting of shareholders.
Immediately prior to the completion of the first tranche of the Offering, the Acquiror owned or controlled 300,000 Shares (representing 0.32% of the class prior to the completion of the first tranche of the Offering on an undiluted basis) and 150,000 Warrants exercisable into Shares (together with the Shares, representing 0.47% of the class prior to completion of the first tranche of the Offering on a partially diluted basis). Immediately following completion of the first tranche of the Offering, the Acquiror now owns or controls 20,300,000 Shares (representing 13.54% of the class on an undiluted basis) and 20,150,000 Warrants exercisable into Shares (together with the Shares, representing 26.99% of the class on a partially diluted basis). The Acquiror has executed a standstill agreement pursuant to which it has agreed not to exercise any convertible securities to the extent such exercise would result in it holding more than 20% of the outstanding voting securities of the Company.
The Acquiror acquired the Shares and the Warrants comprising the Units in a private transaction and not through the facilities of any marketplace. The Shares and Warrants comprising the Units were acquired for a price of $0.015 per Unit for an aggregate purchase price of $300,000.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Steven Marshall, Phone: (647) 338-7937.
ABOUT LENDIFIED HOLDINGS INC.
Lendified, a company located in Ontario, Canada, is a Canadian FinTech company operating both a lending platform which provides working capital loans to small businesses across Canada through a wholly-owned subsidiary, as well as a software as a service technology platform providing AI-enabled credit origination and analytics to financial institutions across Canada through another wholly-owned subsidiary, JUDI.AI. The Company announced its intention to sell JUDI.AI in its press release of July 7, 2020.
Further Information
For further information regarding Lendified, please contact:
Troy Wright, Chief Executive Officer and Director
(647) 381-9218
[email protected]
Neither the 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 release.
This news release may contain forward-looking statements which reflect the Company’s current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan, “estimate”, “expect”, “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, whether the effects of the COVID-19 pandemic will be even more severe than it has been to date, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company’s ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62325
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
The post Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets appeared first on .
Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
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