Fintech
Greenstone Capital Corp. Reports Results of Special Shareholder Meeting
Calgary, Alberta–(Newsfile Corp. – February 22, 2021) – Greenstone Capital Corp. (TSXV: GSGS.P) (the “Company” or “Greenstone“), a capital pool company (“CPC“) pursuant to Policy 2.4 (the “CPC Policy“) of the TSX Venture Exchange (the “Exchange“), is pleased to announce that all matters submitted to shareholders for approval as set out in detail in the Company’s management information circular (the “Circular“) dated January 14, 2021 were approved at the special meeting of shareholders of the Company held on February 16, 2021 (the “Meeting“).
At the Meeting, the Company’s shareholders approved certain matters required to be approved in connection with the Company’s previously announced business combination (the “Proposed Transaction“) with Comprehensive Healthcare Solutions Inc. (“CHS“), including approving the board of directors and auditor of the Resulting Issuer (as such term is defined in the CPC Policy) and an amendment to the Company’s articles to create a new class of restricted voting convertible shares and to amend the existing terms of the Company’s common shares.
In addition, and in accordance with the CPC Policy, the Company is pleased to announce that disinterested shareholders of the Company voted in favour of the following resolutions (collectively, the “Disinterested Shareholder Resolutions“):
Resolution Approving the Removal of the Consequences of Failing to Complete a Qualifying Transaction within 24 Months of the Listing Date
Prior to the changes to the CPC Policy introduced by the Exchange on January 1, 2021, there were certain consequences if a CPC had not completed a Qualifying Transaction within 24 months of the CPC’s listing Date. These consequences included a potential for shares to be delisted or suspended, or, subject to the approval of the majority of the Company’s shareholders, transferring shares to list on the NEX and cancelling certain Seed Shares. The new CPC Policy removed these consequences assuming the CPC obtains disinterested shareholder approval approving the change.
Resolution Approving Certain Amendments to the Escrow Agreement
Prior to the changes to the CPC Policy introduced by the Exchange on January 1, 2021, Seed Shares of a CPC were subject to a 36 month escrow in the event the Resulting Issuer (as defined in the CPC Policy) was a Tier 2 issuer. The new CPC Policy permits such escrow period to be 18 months in duration. As a result of the shareholder approval of this resolution, the Company intends to amend its escrow agreement to reduce the escrow period from 36 months to 18 months.
Resolution Authorizing the Payment of Finders Fees to Non-Arm’s Length Parties
The CPC Policy introduced by the Exchange on January 1, 2021 permits the Company to pay finder’s fees to non-arm’s length parties in certain circumstances and in accordance with the CPC Policy. As a result of the shareholder approval of this resolution, the Company may pay finder’s fees to non-arm’s length parties to the CPC.
Approval of the Disinterested Shareholder Resolutions was sought in order for the Company to align certain of its policies with changes to CPC Policy introduced by the Exchange on January 1, 2021. Each of the Disinterested Shareholder Resolutions was approved by 100% of the Company’s shareholders who voted thereon, excluding the votes held by Non-Arm’s Length Parties (as such term is defined in Exchange policy 1.1) and holders of Seed Shares (as such term is defined in Exchange policy 1.1). An aggregate of 2,100,000 votes were excluded from each of the Disinterested Shareholder Resolutions.
Please refer to the Circular for further details with respect to the amendments associated with the Proposed Transaction and the new CPC Policy.
About Greenstone Capital Corp.
Greenstone is a CPC that completed its initial public offering and obtained a listing on the Exchange in August 2019 (trading symbol: “GSGS.P”). On December 7, 2020, Greenstone entered into a merger agreement and plan of reorganization with CHS with respect to the Proposed Transaction. If completed, the Proposed Transaction is intended to constitute Greenstone’s Qualifying Transaction (as such term is defined in the CPC Policy).
ON BEHALF OF THE BOARD OF DIRECTORS:
Mohammad Fazil
President, Chief Executive Officer, Chief Financial Officer and Director
Email: [email protected]
Phone: (403) 613-7310
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Greenstone’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the Proposed Transaction and all other statements which are historical in nature. Such statements and information reflect the current view of Greenstone. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to fulfill conditions of completing the Proposed Transaction and inability to obtain required regulatory approvals. The forward-looking statements contained in this press release are made as of the date hereof, and Greenstone undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. 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 the securities in any state in which such offer, solicitation or sale would be unlawful.
Neither the 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 press release.
// NOT FOR DISTRIBUTION TO UNITED STATES 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/75096
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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