Fintech
Thunder River Enterprises Announces Completion of Unit and Convertible Debenture Private Placements, Completion of Debt Settlements, and Change of Management and Board of Directors
Toronto, Ontario–(Newsfile Corp. – June 7, 2021) – Thunder River Enterprises Inc. (“Thunder River” or the “Company“) is pleased to announce that it completed a non-brokered private placement offering (the “Unit Offering“) of 30,000,000 units (“Units“) at a purchase price of $0.01 per Unit, for aggregate gross proceeds of up to $300,000. Each Unit consists of one common share (“Common Share“) and one half of one warrant (a “Warrant“). Each whole Warrant is exercisable to acquire one Common Share at a price of $0.015 until June 7, 2023.
The Company is also pleased to announce that it closed a private placement of secured convertible debentures (each a “Debenture“) for gross proceeds of $80,000 (the “Debenture Offering“). The Debentures bear interest at a rate of 10% per annum and have a term of 24 months from the date of issue and are convertible in Units at a conversion price of $0.01 per Unit. Each Unit has the same terms as the Unit Offering. Net proceeds of the Unit Offering and Debenture Offering will be used for general corporate and working capital purposes. All securities issued pursuant to the Unit Offering and Debenture Offering are subject to a statutory hold period ending October 8, 2021.
Thunder River is also pleased to announce that it is has completed debt settlements with Family Memorial Inc. (“Family Memorial“) and Morris McManus Professional Corporation (“McManus“) in respect of an aggregate of $99,354 (collectively, the “Debt Settlements“). Family Memorials has agreed to forgive an aggregate of $60,254 and settle the balance of $20,000 by way of issuance of 2,000,000 Units. McManus has agreed to a cash payment of $9,600 and settle the balance of $9,500 by way of issuance of 950,000 Units. The Units issued pursuant to the Debt Settlements have the same terms as under the Offering and are subject to a statutory hold period ending October 4, 2021. The participation by Family Memorial in the Debt Settlements constitutes a “related party transaction” as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) under applicable securities laws. Under MI 61-101, the Company is relying on an exemption from the formal valuation requirement and the minority approval of the shareholders for the Debt Settlement. The participation by Family Memorial in the Debt Settlements was approved by directors of the Company who are independent of the related party for purposes of Debt Settlement.
Finally, the Company announces that upon completion of the Offering, the current directors and officers resigned, and the following persons were appointed as directors and officers of the Company:
Michael Stein, Chief Executive Officer and a Director
Mr. Stein currently acts as a financial consultant and advises clients on various matters, including acquisitions, divestitures, corporate financings, re-organizations and restructurings. Mr. Stein is Chief Executive Officer and a director of Loon Energy Corporation. Mr. Stein was past Chief Executive Officer and director of Danbel Ventures Inc., Applied Inventions Management Inc. and Majesta Minerals Inc.; Director, U.S. Money Markets for a federally chartered Canadian Trust Corporation and prior thereto a Senior Institutional Money Banker for a Savings & Loan Association in Long Beach, California. Mr. Stein majored in economics and graduated with a Bachelor of Arts from York University.
Harvey McKenzie, Chief Financial Officer and a Director
Mr. Harvey McKenzie is a CPA, CA (LIFE MEMBER) with more than 35 years’ accounting experience, including seven years with an international public accounting firm. He is currently the CFO and Corporate Secretary of Omai Gold Mines Corp., CFO and Director of Debut Diamonds Inc., and a Director of MGM Resources Corp., Jaguar Financial Corporation, Canada Iron Inc., Eagle 1 Capital Corporation, Guyana Frontier Mining Corp., and Loon Energy Corporation. During the past ten years, Mr. McKenzie has served as CFO of several Canadian publicly listed exploration, development and producing mining companies. His public-company experience includes the TSX, TSXV and AIM, giving him a solid grasp of global reporting standards, IFRS and consolidation of reporting for worldwide entities. Mr. McKenzie holds a Bachelor of Science degree in Mathematics from the University of Toronto.
Barry Polisuk, Director
Mr. Polisuk is a graduate of McGill University and University of Ottawa Law Schools, having obtained an LL.B. cum laude and a Quebec Civil Law Degree. Mr. Polisuk was called to the bar in 1988. Mr. Polisuk is Senior Counsel with Friedmans LLP and was previously a partner with Garfinkle, Biderman LLP since 1997. Mr. Polisuk is a corporate and commercial lawyer, focused on financings, corporate and commercial work, including securities. He has served on the boards of several publicly traded companies including, Majesta Minerals Inc., Richards Oil & Gas Limited, Arehada Mining Limited (formerly Dragon Capital Corporation) and iSign Media Solutions Inc. (formerly Corbal Capital Corp.). He has served as the Corporate Secretary of Mooncor Oil & Gas Corp. and of Solid Gold Resources Corp. and President of Danbel Ventures Inc. Mr. Polisuk is currently a director and Corporate Secretary of Nurcapital Corporation Ltd., a director and Chairman of Canntab Therapeutics Ltd. and a director of Loon Energy Corporation.
Danny Dalla-Longa, Director
Mr. Dalla-Longa is currently CEO of Flurotech Ltd., a technology company which is currently involved in the development of a high speed, verifiable, accurate Covid 19 testing technology. He has been involved in the brokerage industry for 5 years and prior to that was a partner for 18 years in a major accounting firm practising in the area of corporate finance and business valuations. Consequently he has considerable experience in acquisitions, divestitures and corporate financings. Mr. Dalla-Longa holds the designations of Chartered Public Accountant as well as Chartered Business Valuator.
About Thunder River
Thunder River was incorporated under the Business Corporations Act (British Columbia) and has never carried on an active business other than the identification and evaluation of assets or businesses with a view to completing a transaction.
For further information contact:
Thunder River Enterprises Inc.
Attention: Michael Stein, Chief Executive Officer
Phone: (416) 410-7722
E-mail: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86813
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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