Fintech
Buckhaven Provides Update on its Proposed Qualifying Transaction
Vancouver, British Columbia–(Newsfile Corp. – February 12, 2021) – Buckhaven Capital Corp. (TSXV: BKH.P) (“Buckhaven“) is pleased to provide an update to its proposed qualifying transaction (previously announced on August 18, 2020 and November 3, 2020) (the “Transaction“). In furtherance of the Transaction, Buckhaven, 1271860 B.C. Ltd. (“Buckhaven Subco“), 1254688 B.C. Ltd. (“125“), and Ag-Mining Investments AB (“AG-Mining“) have entered into a master agreement dated October 30, 2020 (the “Business Combination Agreement“), which sets forth the terms and conditions upon which 125 will acquire Buckhaven by way of reverse takeover in accordance with the policies of the TSX Venture Exchange (“TSXV“). As part of the proposed Transaction, the combined entity will be renamed “Andean Precious Metals Corp.”. Upon completion of the proposed Transaction, the combined entity will continue to carry on the business of 125. It is intended that the proposed transaction, when completed, will constitute the qualifying transaction of Buckhaven pursuant to Policy 2.4 — Capital Pool Companies of the TSXV corporate finance manual.
125 was incorporated under the Business Corporations Act (British Columbia), and its head and registered office is located in Vancouver, B.C. Ag-Mining is a Swedish investment firm and is the 100-percent owner of the San Bartolome silver operation in Potosi, Bolivia. Currently, Ag-Mining is processing ore from its own mining rights and ore purchased from independent third-party operators in Bolivia.
Financing
In connection with the Transaction 125 is proposing to complete a best efforts brokered private placement of subscription receipts (“Subscription Receipts“) comprised of 13,657,000 Subscription Receipts at a price of $1.00 per Subscription Receipt for gross proceeds of $13,657,000 (“Financing“). Sprott Capital Partners L.P. (“Sprott“) is acting as agent in connection with the Financing. Each Subscription Receipt shall automatically convert to one common share of 125 (each, an “Underlying Share“), upon the delivery by the Corporation and Sprott to Capital Transfer Agency ULC (the “Escrow Agent“) of a release notice signed by each of 125 and Sprott (the “Release Notice“) confirming the satisfaction of certain conditions (collectively, the “Escrow Release Conditions“) which will include, among other things, that all conditions precedent to the closing of the Transaction have been satisfied or waived including the receipt of all necessary regulatory approvals.
On closing the gross proceeds from the financing less 50% of Sprott’s commission and all of its expenses will be placed into escrow with the Escrow Agent.
In the event that the Escrow Agent does not receive the Release Notice prior to 5:00 pm. (Toronto time) on March 30, 2021 (the “Release Deadline“), or if prior to such time, the Corporation advises Sprott or announces to the public that it does not intend to satisfy the Escrow Release Conditions, the Subscription Receipts shall be null and void and the Escrow Agent will disburse the escrowed funds together with interest to the subscribers and 125 will make up any shortfall between the amount of the escrowed funds and the original subscription price.
If the Escrow Release Conditions are satisfied on or before the Release Deadline the escrowed funds will be released to 125. Following their release to 125 it is anticipated that such funds will be used for operational, exploration and generative activities on the San Bartolome silver operation and for general corporate purposes.
Upon the satisfaction of the Release Conditions and following a consolidation of Buckhaven’s outstanding common shares on a 1.5-for-1 basis (“Consolidation“), each Underlying Share will be exchanged for one post-Consolidation common share of Buckhaven (“Common Share“). Upon completion of the Transaction, all 125 common shares exchanged for Common Shares will not be subject to a legend except for any imposed by the TSXV.
In connection with the Financing, Sprott will receive a cash commission of 6% of the gross proceeds of the Financing, payable as to fifty percent (50%) on the closing date and as to the remaining fifty percent (50%) upon satisfaction of the Escrow Release Conditions and the release of the escrowed funds.
Selected Pro Forma Consolidated Financial Information
The following table sets forth certain financial information of Buckhaven as at August 31, 2020 and of 125 as at September 30, 2020, and pro forma financial information as at September 30, 2020, for the resulting issuer, on a consolidated basis, after giving effect to the Transaction and the Concurrent Financing and certain other adjustments. All figures presented in the following table are presented in thousands of US dollars.
| Buckhaven as at August 31, 2020 (unaudited)(1) ($) |
125 as at September 30, 2020 (unaudited) ($) |
Pro Forma Adjustments (unaudited) ($) |
Resulting Issuer Pro Forma as at September 30, 2020 (unaudited) ($) |
|
| Balance Sheet Data | ||||
| Current Assets | US $191 | US $51,565 | US $9,262 | US $61,018 |
| Total Assets | US $191 | US $81,429 | US $9,262 | US $90,882 |
| Current Liabilities | US $3 | US $23,596 | US ($10,296) | US $13,303 |
| Total Liabilities | US $3 | US $46,624 | US ($10,296) | US $36,331 |
| Shareholders’ Equity | US $188 | US $34,805 | US $19,558 | US $54,551 |
(1) Financial information for Buckhaven in the following table was extracted in Buckhaven’s presentation currency (Canadian dollars) and converted to US dollars at a fixed exchange rate of 1.00 to 1.30 USD, being the exchange rate as of August 31, 2020.
Update on the Transaction
In addition to completion of the Financing, the closing is conditional upon the Consolidation and Buckhaven’s name being changed to “Andean Precious Metals Corp.”, both of which will be effected by approval of Buckhaven’s board of directors prior to closing. A technical report on the Properties will be filed on SEDAR following the closing.
In connection with the approval by the TSXV of the Transaction, Consolidation, name change and Financing, Buckhaven is in the process of preparing a filing statement in compliance with TSXV policies which will be filed under Buckhaven’s profile on www.sedar.com no less than seven business days prior to completion. The filing statement will contain detailed information concerning 125 and its business and operations, including audited financial statements. Buckhaven anticipates that the Transaction will be completed on or before March 30, 2021.
Pursuant to the Transaction, it is anticipated that Buckhaven will acquire all of the common shares of 125 at the closing in consideration for 154,536,764 Buckhaven common shares at a deemed price of $0.27 per share (post-Consolidation) as well as the issuance of 2,327,826 stock options and 7,200,000 RSUs. Following the closing of the Transaction it is anticipated that the current shareholders of Buckhaven will own approximately 1.5% of the outstanding Common Shares of Buckhaven and the shareholders of 125 will hold the remaining outstanding Common Shares.
125 and its Business
125 is a private company incorporated under the BCBCA on June 25, 2020 for the purpose of completing the Transaction. 125 is a holding company with operating subsidiaries in Bolivia which are engaged in the exploration, exploitation, treatment, refining and commercialization of ore containing silver and gold, which it extracts from its own mining rights and also through purchases from third parties’ ore.
125’s wholly-owned subsidiary, AG-Mining, completed the acquisition of a 100% interest in Empresa Minera Manquiri SA (“Manquiri“) from Coeur Mining, Inc. AG-Mining also holds a portfolio of early-stage mineral properties located in Bolivia and is currently conducting exploration activities on these properties.
Manquiri is a precious metal mining and processing company based in Bolivia with offices in La Paz, Potosi and Oruro. It owns and operates the San Bartolome mine and processing facility, near Potosi, Bolivia. Coeur completed construction at San Bartolome and commenced production in 2008. The primary source of revenue received by the corporate group of 125 is from the sale of ore from the San Bartolome mine directly to refiners.
To feed the San Bartolome Mill, Manquiri holds direct mining rights with the Bolivian state mining company, Corporacion Minera de Bolivia. Currently, these mining rights cover Manquiri’s activities on three project areas, comprised of the following:
- San Bartolome
- El Asiento
- Tatasi-Portugalete
Management of the Resulting Issuer
Under the articles of Buckhaven and applicable corporate law, the maximum number of directors that may be appointed without shareholder approval is four. At this time, on completion of the Transaction, the board is expected to consist of Mr. Luis da Silva, Mr. Alberto Morales, Mr. Fraser Buchan and Mr. Peter Gundy. Details of the proposed officers and directors of the resulting issuer are as follows:
Luis Cabrita da Silva, Proposed President and Chief Executive Officer and Director. Mr. da Silva is an experienced metals and mining executive having served as CEO of listed Canadian companies and at a senior level in multinationals. Mr. da Silva has a proven track record in value creation for shareholders by forging relationships and managing complex entities with large, international joint venture partners, including Severstal and POSCO. Between 2007 and 2013, Mr. da Silva presided over the restructuring of Mano River Resources resulting in the formation of Aureus Mining Inc, Afferro Mining Inc and Stellar Diamonds Ltd, all Canadian and/or London listed companies. Mr. da Silva served on the Board of all three companies and was instrumental in strategy development and multiple financings. Between 2014 and 2018, Mr. da Silva was president and CEO of GB Minerals Ltd until its acquisition by Castlelake, L.P./Itafos. Since 2018, Mr. da Silva has been principal and co-founder of Ambercon International Holdings, a private resources company. He is a graduate Mining Engineer from the Camborne School of Mines and received his M.B.A. from the Cranfield School of Management.
Jeff Chan, Proposed Chief Financial Officer. Mr. Chan is an experienced financial executive in the mining and healthcare industries, having held senior leadership roles in several Canadian publicly held companies on the TSX, TSX-V and CSE. Most recently, Mr. Chan was the CFO of a privately held cannabinoid technology company. Previously, he served as Interim CFO and Vice President, Finance at Liberty Health Sciences, where he led the growth of its financial operations subsequent to Liberty’s spinoff from Aphria Inc., and Vice President, Finance at Orvana Minerals Corp. where he closed several transformational debt financings. Mr. Chan is a Chartered Professional Accountant (CA, CPA) and holds a B.Comm from the University of Toronto.
Simon Griffiths, Proposed Chief Operating Officer. Simon Griffiths has extensive global experience in the resources industry, both public and private companies in developed and emerging economies. He is a Chartered Mining Engineer and Qualified Person (QP) having held senior technical and operational leadership roles. At TSX/ASX listed OceanaGold he was Director of Operations at Haile Gold mine after leading the technical due diligence for the $480 million acquisition. At Newcrest Mining (ASX), TWSP Ltd and Solid Energy (NZX) Simon has managed multiple technical studies for major resource projects in Australia, West Africa, Mozambique, Philippines, Indonesia, New Zealand and USA. Commodity experience is mainly gold, silver and copper but also includes coal, iron ore and industrial minerals. He has championed environmental engineering in mine design, ore reserve governance protocols and re-engineered major mining operations delivering significant valuation uplift. He has an undergraduate B.Eng degree and Masters in Mining Engineering from Camborne School of Mines and a Masters in Mineral Economics from Curtin Business School, Western Australia.
Alberto Morales, Proposed Executive Chairman and Director. Alberto Morales has over 30 years of experience specialized in corporate finance, mergers and acquisitions and corporate restructurings. He has also participated individually in other private equity and venture capital projects as co-developer, investor and/or advisor in telecommunications, aviation, tourism, financial services and asset management, mining and alternative energy. He has participated in the planning, formation, development and consolidating stages of various start-up business ventures. He holds a Bachelor’s degree in Law from the University of Monterrey (1984) and a Master’s degree in Compared Law from the New York University School of Law (1987), and was admitted to practice law in Mexico in 1985 and in the State of New York in 1989.
Robert Buchan, Proposed Director. Bob Buchan is the founder, former CEO and Chairman of Kinross Gold, the 5th largest gold producer in the world. Mr. Buchan has served as a director of numerous public companies, including as the chairman of Polyus Gold, the 4th largest gold producer in the world. Mr. Buchan has been an advocate for the mining industry in Canada and around the world, and has promoted education and innovation, mostly notably through the establishment and funding of the Robert M. Buchan School of Mining at Queen’s University.
Peter Gundy, Proposed Director. Peter Gundy is the founder of Neo Material Technologies Inc. (“NEM“), serving as CEO and chairman from 1992 to 2008. Mr. Gundy created one of Canada’s most successful small/medium enterprises operated by Canadians in China and South East Asia. With manufacturing plants in China and Thailand, NEM became #1 in the world in powerful high-tech magnetic materials for the world’s electronic industries (NEM’s proprietary material was used in every hard drive manufactured). NEM became # 1 globally in the production of advanced rare earths also used in the global electronics industries and automotive sector. In 2012, NEM was sold to Molycorp for $1.1 billion. Mr. Gundy has served as a director with numerous publicly traded companies, including Banro Corp., True Gold Mining Inc., and Clifton Star Resources Corp.
Upon completion of the Transaction, the following persons are anticipated to beneficially own, directly or indirectly, or exercise control or direction over, more than 10% of the voting securities of Buckhaven:
| Name and Municipality of Residence | Amount Outstanding after Giving Effect to the Transaction with $13,657,000 raised on the Concurrent Financing | |
| Number of Securities | Percentage of Total | |
| PMB Partners LP, an Ontario limited partnership controlled by Alberto Morales | 82,325,000 Common Shares |
52.43% |
| 2176423 Ontario Inc. an Ontario corporation controlled by Mr. Eric Sprott | 21,854,664 Common Shares |
13.92% |
Additional Transaction Information
The proposed Transaction is not a “Non-Arm’s Length Qualifying Transaction” within the meaning of TSXV Policy 2.4 Capital Pool Companies, therefore approval of Buckhaven’s shareholders is not required.
The Company entered into a finder’s fee agreement with Cottingham Capital LLC, a corporation existing pursuant to the laws of Tennessee (the “Finder“). Pursuant to the terms of the finder’s fee agreement, and subject to TSXV approval, the Finder shall receive a fee of 116,667 Common Shares at a deemed issue price of $0.36 per share. The Finder is arm’s length to all parties.
Buckhaven will be seeking a waiver of the sponsorship requirements of TSXV Policy 2.2 Sponsorship and Sponsorship Requirements, but there is no assurance that such waiver will be granted.
Trading in the Buckhaven Common Shares has been halted as a result of the signing of the Business Combination Agreement. Trading in the Buckhaven Common Shares will remain halted pending the review of the proposed Transaction by the TSXV. There can be no assurance that trading in the Buckhaven shares will resume prior to the completion of the Transaction.
Additional Information
All information contained in this press release with respect to Buckhaven and 125 was supplied by the respective parties, for inclusion herein, and each party and its directors and officers have relied on the other party for any information concerning the other party.
Additional terms of the Transaction were previously disclosed in the press releases of Buckhaven and 125 dated August 18, 2020 and November 3, 2020 and are available on Buckhaven’s SEDAR profile at www.sedar.com
For further information:
Buckhaven Capital Corp.
Bob Buchan, Director
(416) 274 -7333
1254688 BC Ltd.
Fraser Buchan, Director
(416) 473-4099
Reader Advisory – Cautionary Statements
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is 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.
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 press release
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.
This press release may contain forward-looking information, such as statements regarding the completion of the Transaction, the satisfaction of the Escrow Release Conditions and the conditions to closing, the use of the proceeds from the Financing, and future plans and objectives of Buckhaven. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Buckhaven’s expectations include the failure to satisfy the conditions to completion of the Transaction set forth above and other risks detailed from time to time in the filings made by the Company pursuant to applicable Canadian securities laws.
The reader is cautioned that assumptions used in the preparation of any forward-looking statements herein may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Buckhaven. As a result, Buckhaven cannot guarantee that the Transaction will be completed on the terms and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
THIS NEWS 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 OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74369
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.
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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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