Fintech
Winston Capital Group Inc. Enters into Definitive Agreement for Qualifying Transaction
Calgary, Alberta–(Newsfile Corp. – December 9, 2020) – Winston Capital Group Inc. (TSXV: WNST.P) (the “Corporation“), a capital pool company as defined under Policy 2.4 – Capital Pool Companies (“CPC“) of the TSX Venture Exchange (the “Exchange“), is pleased to announce that it has entered into a definitive agreement dated December 9, 2020 (the “Business Combination Agreement“) with Merida Minerals Inc. (“Merida“), as previously announced on May 11, 2020. Pursuant to the Business Combination Agreement, Winston’s wholly owned subsidiary, 2797200 Ontario Inc. (“Subco“), will amalgamate with Merida (the “Amalgamation“) to complete the qualifying transaction (the “Transaction“) in accordance with the policies of the Exchange. Upon completion of the Amalgamation, the resulting issuer will be known as “Merida Minerals Inc.” (the “Resulting Issuer“) and the Resulting Issuer will continue the business of Merida. The Transaction is subject to the receipt of all necessary regulatory approvals and shareholder approvals required by applicable corporate law, including the approval of the shareholders of Merida, as well as the satisfaction of conditions to closing as set out in the Business Combination Agreement.
About Merida
Merida, a private company formed pursuant to the laws of the Province of Ontario, is a mineral exploration company focused on developing the long-term mining potential of the Zn-Cu-Pb enriched Puebla de la Reina (“PBR“) property in the low-risk and historic mining district in Southwest Spain. The property, in Extremadura, Spain, covers an area of 90km2. Merida, through its wholly owned Spanish subsidiary, La Joya Minerals S.L.U. has entered into a joint venture agreement with Auplata S.A. and Amaiur Recursos Minerales, SL of Spain to acquire up to 100% interest in the property. The management of Merida contains industry veterans who have more than 80 years of mineral exploration and production experience in multiple jurisdictions and have successfully managed multiple international mining companies. With support from the local government and sophisticated mining infrastructures, Merida will initiate a series of development and exploration work on the historical sites.
Merida has 44,676,825 common shares (“Merida Shares“) issued and outstanding. Additionally, Merida has 3,950,000 options to purchase Merida Shares (“Options“) issued and outstanding.
Terms of the Proposed Qualifying Transaction
Pursuant to the terms of the Business Combination Agreement, at the effective time of the Amalgamation, Merida will amalgamate with Subco to form an amalgamated entity (“Amalco“), which will continue as a wholly owned subsidiary of Winston. In connection with the completion of the Amalgamation, each holder of Merida Shares shall exchange their Merida Shares for common shares in the capital of the Resulting Issuer (“Resulting Issuer Common Shares“) on the basis of one (1) fully paid and non-assessable Resulting Issuer Common Share for every one Merida Share held, for a deemed price of $0.10 per Merida Share.
Immediately after the completion of the Transaction, the current shareholders of Winston will own approximately 7,500,000 Resulting Issuer Common Shares (14.4%) and the holders of Merida Shares existing immediately prior to the Transaction will own following the Transaction approximately 44,676,825 Resulting Issuer Common Shares (85.6%).
Winston intends to hold an annual and special meeting of its shareholders in February 2021 to approve certain matters related to the Transaction, including:
- the appointment of MNP LLP as the auditor and the authorization of the board of directors of Winston to fix the remuneration thereof;
- fixing the number of directors to be elected at four (4);
- electing directors of Winston for the ensuing year;
- a change in the name of Winston from “Winston Capital Group Inc.” to “Merida Minerals Inc.” or such other name as the board of directors of Winston deems appropriate;
- a new Winston stock option plan; and
- a continuance of Winston from a corporation incorporated under the laws of the Province of Alberta to a corporation continued under the laws of the Province of Ontario.
Additional details regarding the annual and special meeting of the shareholders of Winston will be available in a management information circular that is expected to be delivered to shareholders of Winston. The Amalgamation will be approved by the sole shareholder of Subco and by the shareholders of Merida, each by way of a resolution.
The completion of the Amalgamation is conditional on obtaining all necessary regulatory and shareholder approvals in connection with the matters described above and other conditions customary for a transaction of this type. The Business Combination Agreement will be made available on SEDAR at www.sedar.com.Winston and Merida anticipate closing the Transaction in mid to late December 2020.
Note that all of the foregoing figures in this press release have been calculated based on the following assumptions: (i) 4,616,840 Merida Shares are issued pursuant to the Private Placement; (ii) the Private Placement closes in February 2021; and (iii) the Transaction closes in February 2020. If these assumptions differ from the foregoing, the number of Resulting Issuer Common Shares held by shareholders of Merida will differ.
Summary Financial Information of Merida
Based on the audited annual financial statements for Merida for the year ended June 30, 2020:
| June 30, 2020 | June 30, 2019 | |
| Assets | ||
| Current Assets | ||
| Cash | $32,671 | $29,010 |
| Non-Current Assets | ||
| Exploration and evaluation assets | $148,666 | – |
| Expenses | ||
| General and Corporate | $753,903 | $147,771 |
| Property Investigation | $106,195 | |
| Share-based payments | $44,052 | $7,148 |
| ($797,955) | ($261,114) | |
| Other Items | ||
| Gain on settlement of accounts payable | – | $33,000 |
| Net Loss and comprehensive loss | ($797,955) | ($228,114) |
| Loss per share, basic and diluted | ($0.04) |
Merida – Share Capitalization and Funds Available
Upon completion of the Transaction and assuming the Private Placement (further details below) is completed for aggregate gross proceeds of C$692,526, it is anticipated that there will be an aggregate of 56,793,665 Merida Shares issued and outstanding.
The funds to be available to the Resulting Issuer upon the closing of the Transaction are expected to be a minimum of C$1,050,000 (assuming the Private Placement is completed for aggregate gross proceeds of C$692,526), less costs of the Transaction and the Private Placement. These funds are anticipated to be used towards exploration and development of the PBR Project and the various costs required to complete the Transaction.
Private Placement
Prior to or in conjunction with the completion of the Qualifying Transaction, Merida is expected to complete a non-brokered private placement of up to 4,616,840 Merida Common Shares at a price of $0.15 per Merida Common Share (the “Offering Price“) for aggregate gross proceeds to Merida of up to $692,526 (the “Private Placement“).
In connection with the Private Placement, Merida, in its discretion, may pay a cash commission of up to 7% of the gross proceeds from the sale of Merida Common Shares and issue such number of broker warrants (“Merida Broker Warrants“) that is equal to up to 7% of the number of Merida Common Shares sold pursuant to the Private Placement. Each Merida Broker Warrant will entitle the holder to one (1) Merida Common Share and is exercisable at a price of $0.15 per Merida Common Share for a period of 24 months from the date of issuance, subject to the requirements of the TSXV.
It is intended that the net proceeds from the Private Placement will be used for the exploration and development of the PBR Project and general working capital following completion of the Qualifying Transaction.
Sponsorship
Under the policies of the Exchange, the parties to the Transaction will be required to engage a sponsor for the Transaction unless an exemption or waiver from this requirement can be obtained. Winston intends to apply to the Exchange for a waiver from the sponsorship requirements for the Qualifying Transaction based upon the waivers available in Exchange policies. There is no assurance that a waiver from this requirement can or will be obtained.
Resulting Issuer
Immediately following the completion of the Transaction, the Resulting Issuer is expected to change its name to “Merida Minerals Inc.”, and the Resulting Issuer will be a Mining issuer under the policies of the Exchange.
Proposed Management and Board of Directors of Resulting Issuer
Concurrent with the completion of the Transaction, it is expected that all directors and officers of Winston will resign and the directors and officers of the Resulting Issuer will be as follows:
Norman Brewster – Chief Executive Officer, President, Director, Chairman of the Board and Corporate Secretary
Mr. Brewster has been involved in mining internationally for more than 40 years serving in management roles and on many public and private company boards over his career in the mineral industry. Norman was the Executive Chairman, and interim President of Iberian Minerals Corp., successfully financing, developing and putting into production the AguasTenidas Mine in Andalucia, Spain. During his tenure, Mr. Brewster led negotiations for the purchase of the Condestable Mine in Peru by Iberian Minerals Corp., and led a committee in reviewing the successful bid by Trafigura Group Pte. Ltd. to acquire Iberian Minerals Corp. Mr. Brewster also sat on a committee, as a Director of Spider Resources Inc., which reviewed the successful all cash acquisition of Spider Resources Inc., by Cliffs Natural Resources Inc. Currently Mr. Brewster is the President, Director and CEO of Cadillac Ventures Inc., with development projects in Ontario (copper) and New Brunswick (tungsten). Mr. Brewster holds Bachelor of Science and Education Degrees from Acadia University and was approved as a Member of the Association of Geoscientists of Ontario.
Kyle Appleby, CA – Chief Financial Officer
Mr. Appleby is a seasoned CFO, with management and board experience working at multiple companies over the past 18 years. Currently, Kyle is the CFO of Renforth Resources; DigiMax and Spaceify which all benefit from Kyle’s accounting expertise. He has also served on the boards of several companies, including URU Metals and Captor Capital among others. Kyle has a Master’s Degree from Southern Federal University and earned his Chartered Accountant Designation in 2001. Since that time has worked both the audit and the issuer side of the business, concentrating on providing contract CFO services to a number of reporting issuers and private companies, active in the resource, agritech, technology and cannabis spaces with experience in take-overs and amalgamations.
Eduardo Olarte, JD – Director
Mr. Olarte has been working as an international lawyer focusing on business and corporate law. He has a law degree from the University of Barcelona, and a master’s degree in international & Comparative Business Law from London Metropolitan University. His practice focuses on business law with specific expertise on the inter-jurisdictional transaction in the mining and energy sector, and has been advising companies worldwide, including the UK, Canada, and Australia. He has experience in drafting title and corporate legal opinion for companies to comply with stock exchanges in London, Toronto, and Sydney in raising funds for Spanish exploration and other mining operations.
Rahim Allani – Director
Mr. Allani has been involved in Canadian and international capital markets for 20 years. He is now a Managing Director at OCI Inc, a global corporate finance advisory firm focuses on cross-border mergers & acquisitions, corporate finance, and go public work. He has extensive experience in working with Canadian and international mining companies financing and going public on exchanges in North America and Asia; and sits on boards and advisory boards for companies in several countries. He holds a MBA degree from the DeGroote School of Business at McMaster University and a BA(Hons) from the University of Toronto.
Patrick Burns – Director
Mr. Burns has over 40 years of experience in the mining sector throughout the Caribbean, Central and South America. Mr. Burns was directly involved in the discovery of Escondida, the world’s largest copper deposit located in Chile, and also multiple copper and gold projects in Chile and Canada. Mr. Burns has been involved in publicly traded mining companies for 35 years and is an experienced board member as well as previously founding his own junior resource company. He is currently a consultant to several groups working primarily in Chile and Peru, where he has several of his own projects under option to third parties and also provides properties of merit for international junior resource companies. He holds a B.Sc. (Hons Geology) from the University of British Columbia, is fluent in Spanish and currently resides in Argentina.
Miguel Cabal, Eurogeol – Director
Miguel Cabal is a Eurogeologist with more than 20 years of experience in the mining sector. Born and raised in mining environments, he works as a consultant and advisor to national and international mining companies where he works in mining project management, geology and geotechnics, direction of environmental impact studies, environmental authorizations and natural resources. He is President of the Scientific Committee of Metallic Mining Hall in its first two editions (2015 and 2017 – the Spanish equivalent of the PDAC event held in Toronto annually). He is also a Member of the Editor Committee of the Rocks and Minerals Magazine of Fueyo Editores. Lastly, he has also worked as an advisor for construction companies such as Ferrovial Agromán and Acciona.
Arm’s Length Transaction
The Transaction was negotiated by parties who are dealing at arm’s length with each other and therefore, the Transaction is not a Non-Arm’s Length Qualifying Transaction in accordance with the policies of the Exchange.
Finder’s Fees
No finder’s fees are payable in connection with the closing of the Transaction.
Filing Statement
In connection with the Transaction and pursuant to Exchange requirements, Winston will file a filing statement on SEDAR (www.sedar.com), which will contain details regarding the Transaction, the business combination, the Private Placement, Winston, Merida and the Resulting Issuer.
It is intended that the Transaction, when completed, will constitute the Corporation’s “Qualifying Transaction” in accordance with Policy 2.4 of the Exchange. Completion of the proposed Qualifying Transaction is subject to a number of conditions precedent, including, but not limited to, (i) acceptance by the Exchange and receipt of other applicable regulatory approvals; and (ii) completion of the Private Placement. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.
Shareholder approval is not required with respect to the Transaction under the rules of the Exchange. In the event any of the conditions set forth above are not completed or the Transaction does not proceed, the Corporation will notify shareholders. Trading in the common shares of the Corporation will remain halted and is not expected to resume trading until the Transaction is completed or until the Exchange receives the requisite documentation to resume trading.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
ABOUT THE CORPORATION
The Corporation is a capital pool company (a “CPC“) that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the Exchange’s CPC Policy, until the completion of its qualifying transaction, the Corporation will not carry on business, other than the identification and evaluation of businesses or assets with a view to completing a proposed qualifying transaction.
For further information, please contact:
Bruce Bent
Chief Executive Officer
Winston Capital Group Inc.
Telephone: + 1 (905) 567-3431
Email: [email protected]
Norman Brewster
Chief Executive Officer
Merida Minerals Inc.
Telephone: +1(416) 970-3223
Email: [email protected]
www.meridaminerals.com
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE “1933 ACT”) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
Neither 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. The Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the content of this press release.
The information contained or referred to in this press release relating to Merida has been furnished by Merida. Although Winston has no knowledge that would indicate that any statement contained herein concerning Merida is untrue or incomplete, neither Winston nor any of its respective directors or officers assumes any responsibility for the accuracy or completeness of such information.
Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance, receipt of requisite regulatory approvals, completion of the Private Placement and if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approvals, and any ancillary matters thereto, are 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 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.
This forward-looking information in respect of Winston and Merida reflects Merida’s or Winston’s, as the case may be, current beliefs and is based on information currently available to Winston and Merida, respectively, and on assumptions Winston and Merida, as the case may be, believes are reasonable. These assumptions include, but are not limited to, management’s assumptions about the Exchange approval for the Transaction, closing of the Private Placement, closing of the business combination announced above and Merida’s assumptions regarding its business objectives.
Forward-Looking Information Cautionary Statement
This release includes forward-looking statements regarding Winston, Subco, Amalco, Merida, the Resulting Issuer and their respective businesses, which may include, but is not limited to, statements with respect to the completion of the Transaction and the Private Placement, the terms and timing on which the Transaction and the Private Placement are intended to be completed, the use of the net proceeds from the Private Placements, the ability to obtain regulatory and shareholder approvals, the proposed business plan of the Resulting Issuer and other factors. Often, but not always, Forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes”, “estimates” or variations of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity. The forward-looking events and circumstances discussed in this release, including completion of the Transaction and the Private Placement, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including the risk that Merida and Winston may not obtain all requisite approvals for the Transaction, including the approval of the Exchange for the Transaction (which may be conditional upon amendments to the terms of the Transaction), risks of the resource industry, failure to obtain regulatory or shareholder approvals, economic factors, any estimated amounts, timing of the Private Placement, the equity markets generally and risks associated with growth, exploration and development. Although Winston and Merida have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Winston and Merida undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69939
Fintech
Asian Financial Forum held next week as the region’s first major international financial assembly of 2025
The 18th Asian Financial Forum 2025 (AFF), co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), will be held at the Hong Kong Convention and Exhibition Centre (HKCEC) on 13 and 14 January (Monday and Tuesday). As the region’s first major international financial conference in 2025, the forum will examine the landscape for new business opportunities in various industries and regions in the coming year and promote global cooperation, and is expected to attract more than 3,600 finance and business heavyweights.
Themed “Powering the Next Growth Engine”, the AFF will bring together more than 100 global policymakers, business leaders, financial experts and investors, entrepreneurs, tech companies and economists to share their views on the shifting global economic landscape and financial ecosystem. These industry experts will dissect the risk management strategy, discover new business opportunities, and explore how Hong Kong can seek breakthroughs in a period of change.
First flagship financial event to showcase Hong Kong’s financial strengths
Launched in 2007, the AFF has become a flagship financial event for Hong Kong and the broader region, highlighting the city’s pivotal role as a globally renowned financial hub with a highly competitive economic and business environment. Amid a rapidly changing global macroeconomic landscape, and shifts in geopolitical dynamics and monetary policies, Hong Kong’s financial services sector continues to leverage its strengths across various domains, drawing on its world-class business infrastructure and robust regulatory regime to help drive cooperation and mutual success across Asia and around the world.
Christopher Hui, Secretary for Financial Services and the Treasury of the HKSAR Government, said: “Hong Kong’s financial market went through a lot of reforms and innovation last year. We have also launched a roadmap on sustainability disclosure in Hong Kong and issued a policy statement on responsible application of artificial intelligence in the financial market with a view to boosting green finance and sustainable financing. The upcoming Asian Financial Forum will gather the top-tier of the financial and various sectors from all around the world, the Mainland and in Hong Kong and hence is the perfect occasion for us to showcase to the world the new momentum and latest advantages of Hong Kong in the financial realm. Participants will also have a chance to learn more about how Hong Kong can partner with them to explore new collaborations and development areas while expanding their network here.”
Luanne Lim, Chairperson of the AFF Steering Committee and Chief Executive Officer, Hong Kong, of HSBC, said: “The global economy faces greater uncertainties in 2025 compared to 2024. However, robust growth in India and ASEAN nations, combined with increased policy support from Mainland China, is expected to keep Asia’s (ex-Japan) GDP growth at a strong 4.4%, well above the global average of 2.7%.” Against this backdrop, this year’s Asia Financial Forum is aptly themed “Powering the Next Growth Engine” and will focus on high-potential markets such as ASEAN, the Middle East (particularly the Gulf Cooperation Council countries), and the role that Hong Kong can play. Ms Lim said Hong Kong’s unique role as a bridge between the mainland and international markets allows it to support mainland enterprises expanding globally. She added that Hong Kong is committed to attracting global talent and investors, driving growth for both mainland and international businesses.
Patrick Lau, HKTDC Deputy Executive Director, said: “As we move into the new year, different economies around the world are facing challenges in maintaining economic growth. As an international financial centre, Hong Kong is playing an important role both as a ‘super-connector’ and a ‘super value-adder’ to link the world, enabling investors and fundraisers to leverage the city’s professional services and investment platforms to facilitate collaboration and create business opportunities. This year’s forum not only brings together heavyweight speakers and thought leaders but also builds on the success of previous years to provide a business platform for international participants, promoting financial and business cooperation and working together to launch new engines for growth.”
Exploring new trends as the world’s economic centre of gravity continues its shift east
Reflecting on a trend where the world’s economic centre of gravity continues to take an eastward shift, Christopher Hui will host two plenary sessions on emerging prospects in the region on the first day of the forum (13 January). The morning session of Plenary Session I will feature H.E. Adylbek Kasymaliev, Prime Minister of Kyrgyzstan, finance ministers from countries such as Pakistan and Luxembourg, and Yoshiki Takeuchi, Deputy Secretary-General of the Organisation for Economic Co-operation and Development (OECD), who together will explore the financial policy outlook for 2025. In the afternoon, Plenary Session II will bring together leaders from multilateral organisations to share their views on the role of multilateral cooperation in regional economic development. Speakers will include Roberta Casali, Vice-President, Finance and Risk Management, Asian Development Bank; Jin Liqun, President and Chair of the Asian Infrastructure Investment Bank (AIIB); and Satvinder Singh, Deputy Secretary-General for ASEAN Economic Community, Association of Southeast Asian Nations (ASEAN). Moreover, a new session, the Gulf Cooperation Council Chapter, will bring together HE Jasem Mohamed AlBudaiwi, Secretary General of the Gulf Cooperation Council (GCC), speakers from the Middle East and local experts to discuss prospects in fostering financial cooperation and investment between the member states of the GCC and Hong Kong.
Also on the first day, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, will host the Policy Dialogue session with speakers including European representatives such as Philip Lane, Chief Economist and Member of the Executive Board of the European Central Bank, and Dr Olli Rehn, Governor of the Bank of Finland. The discussion will explore the opportunities and challenges arising from the global shift towards more accommodative monetary policies and national authorities’ strategic deployment of measures to revitalise their economies and accelerate growth through innovation.
The panel discussion on China Opportunities returns this year with senior figures invited to analyse investment prospects under China’s commitment to technological innovation and its impact on global business. The panellists included Li Yimei, Chief Executive Officer of China Asset Management; and Ken Wong, Executive Vice President of Lenovo and President of Lenovo Solutions & Services Group.
Top economist and leading AI expert take the stage at keynote luncheons
Another highlight of this year’s AFF will be the two keynote luncheons featuring thematic speeches by two distinguished guests: Prof Justin Lin Yifu, Chief Economist and Senior Vice President of the World Bank (2008-2012), and Prof Stuart Russell, Co-chair of the World Economic Forum Council on AI. These two prominent figures will dissect the evolution of the global economic landscape amid changing international dynamics, and examine how artificial intelligence (AI) is emerging as a new driving force for rapid global economic growth respectively.
Exploring hot topics in the financial and economic sectors
The afternoon panel discussion, Global Economic Outlook, will feature a special address from Liu Haoling, Vice Chairman, President and Chief Investment Officer, China Investment Corporation. The panel will analyse international economic trends and provide insights into business opportunities and wealth accumulation in emerging industries and regions in 2025.
Other sessions titled Global Spectrum, Dialogues for Tomorrow and Thematic Workshop will feature in-depth discussions focusing on the latest industry trends, including AI, Web 3.0, sustainability, philanthropy and family offices. As AI becomes increasingly widespread and diversified in its societal applications, the second day of the forum will introduce a special session, Dialogue with Kai-Fu Lee, in which Dr Kai-Fu Lee, Chairman of Sinovation Ventures, will discuss the transformative power of AI and its impact on technological advancements in the global business ecosystem.
Exploring the impact of sustainable disclosure on investment strategies
Sustainable finance and environmental, social and governance (ESG) considerations have become an irreversible global trend. In 2025, Hong Kong is set to fully align its regulatory framework with the sustainability disclosure standard of the International Sustainability Standards Board (ISSB). Sue Lloyd, Vice Chair of the ISSB, will join other experts in discussing how adopting international financial sustainability disclosure standards can strengthen market confidence in Hong Kong’s capital markets, address post-COP29 implementation in Asia, and share strategies for sustainable investing across three separate sessions. In addition, the Breakfast Panel on the second day will focus on the flows of transition finance in shaping a sustainable future in the Greater Bay Area and beyond. Furthermore, the HKTDC has partnered with EY to conduct a joint market survey on sustainable development, aiming to explore the views and practices of Asian businesses and investors on topics such as sustainability reporting, sustainable finance and preparations for dealing with climate change. The results of the survey will be unveiled on the first day of the forum.
Expanding cross-border opportunities through the HK global investment platform
As a key element of this year’s forum, AFF Deal-making offers one-on-one matching services for project owners and investors. More than 270 investors and 560 projects are expected to participate, with investment opportunities across industries such as environmental, energy, clean technology, food and agriculture tech, healthcare tech, fintech and deep technology. The exhibition sections of the AFF – Fintech Showcase, InnoVenture Salon, FintechHK Startup Salon and Global Investment Zone – will attract more than 130 local and global exhibitors, international financial institutions, technology companies, start-ups, investment promotion agencies and sponsors, including Knowledge Partner EY, HSBC, Bank of China (Hong Kong), Standard Chartered Bank, UBS, Prudential, China International Capital Corporation (CICC), Huatai International and more. Notably, the InnoVenture Salon will provide a platform for more than 100 start-ups to showcase innovative technologies in a variety of fields such as finance, regulation, sustainability, health and agriculture, supported by more than 110 Investment Mentors and Community Partners.
IFW 2025 creates synergies with AFF to boost mega event economy
International Financial Week (IFW) 2025 runs from 13 to 17 January with the AFF as its highlight event. This year’s IFW will feature more than 20 partner events, covering a wide range of global financial and business topics, including private equity, family offices, net-zero investing and generative AI. As the region’s first major financial event of the year, the AFF attracts top global enterprises and leaders to Hong Kong, creating connections between capital and opportunities. The forum assists industry professionals in seizing opportunities in the new year and helps promote the mega event economy in Hong Kong.
This year, the AFF has collaborated with various organisations to provide special travel, dining and shopping discounts and privileges for overseas participants joining the event. Activities include Peak Tram and Sky Terrace trips, the iconic Aqua Luna red-sail junk boat, and guided tours of Man Mo Temple and Tai Kwun arranged by the Hong Kong Tourism Board. Participants can also enjoy dining discounts and guided tours from the Lan Kwai Fong Group, as well as the Winter Wonderland at the Hong Kong Jockey Club’s Happy Wednesday at Happy Valley Racecourse, all designed to immerse overseas visitors in the vibrancy and diversity of Hong Kong.
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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.
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