Fintech
Peter H. Smith Clarifies That All Votes Already Cast Will Be Counted at the 2020 Annual General Meeting of Fancamp Exploration Inc.
- Dr. Peter H. Smith once again needs to clarify misstatements made by the entrenched board and management of Fancamp.
- Dr. Peter H. Smith clarifies that Fancamp consented to a court order that the record date of May 28, 2021 would remain regardless of the date of the AGM.
- The Concerned Shareholders also express concerns with self-interested conduct of Ashwath Mehra at the expense of Fancamp and its shareholders.
Montreal, Quebec–(Newsfile Corp. – August 3, 2021) – Incumbent director of Fancamp, Peter H. Smith, who, together with joint actors James Hunter and his affiliates, Mark Fekete and Heather Hannan, (the “Concerned Shareholders”) hold in aggregate, directly and indirectly an aggregate of 22,285,597 shares, representing approximately 12.63% of Fancamp Exploration Ltd.’s (“Fancamp” or the “Company”) outstanding share capital, wishes to clarify that the record date of May 28, 2021 will remain the same for the 2020 annual general meeting (the “AGM”) regardless of the date held. All votes already cast will be counted at the AGM. As a result of the Company’s agreement to a consent court order to retain the record date, meaning that all shareholders holding shares on May 28, 2021 will be entitled to vote, it was unnecessary for the British Columbia Supreme Court to order that the AGM be held on July 26, 2021 at the hearing that occurred on July 15 and 16, 2021 of Dr. Smith’s petition. Apart from advising the parties that the AGM would not be held on July 26, 2021, the court advised that the timing of the AGM would be addressed when the court gives its reasons for its decision and the other relief sought, which decision is expected to be provided imminently. The Company stated in its July 30, 2021 news release that it obtained an extension from the registrar to hold its AGM before December 31, 2021. This extension was in fact obtained on May 27, 2021 prior to the mailing of the Company’s management information circular and prior to the filing of Dr. Smith’s petition with the court, although not disclosed to either shareholders or Dr. Smith at that time. This was obviously done by the entrenched board and management to invoke further delay if they found themselves losing the vote.
Dr. Smith also sought orders relating to the use of virtual technology so that all shareholders have an opportunity to vote for either management or dissident nominees, as management is currently weaponizing the technology to disenfranchise supporters of the Concerned Shareholders, in addition to an order to review proxies in advance of the AGM as is customary. The Company consented to these orders despite having previously refused many of the protocols proposed by Dr. Smith and only consented after the petition was filed with the court by Dr. Smith. The Company also consented to a declaration that the dissident nominees have complied with the Company’s advance notice policy, which order was necessary, in part, as despite repeated requests, the Company failed to provide the form of agreement that the advance notice policy requires the dissident nominees sign.
Dr. Smith also sought the appointment of an independent chair which the Company has steadfastly refused. Dr. Smith also requested an order that votes cast using Broadridge’s QuickVote system be disallowed and they could be re-voted. The Company advised that Broadridge had shut down the system after the filing of the dissidents’ circular (which Dr. Smith was not advised of until after the court petition was filed despite that he previously raised concerns with the utilization of such a system for a contested meeting in accordance with established court precedent).
Additionally, Dr. Smith sought an order be put in place to provide temporary relief preventing the closing of the arrangement with ScoZinc Mining Ltd (“ScoZinc”, the “ScoZinc Transaction”) so that disputes relating to the conduct of the AGM could be resolved if necessary. The dissident nominees have made it clear that they do not intend to close the ScoZinc Transaction if elected. In the Company’s July 14, 2021 news release the Company announced that it had agreed to pay ScoZinc $125,000 to extend the closing of the ScoZinc Transaction by one month from July 2, 2021 to August 2, 2021 with an option for Fancamp to pay another $125,000 to extend for another month to September 2, 2021. Unlike the prior agreement which provided for a loan from Fancamp to ScoZinc, this is straight cash being paid to ScoZinc, costing shareholders each month. At the same time the Company is seeking to delay the AGM and the ScoZinc Transaction cannot close until at least 2 days after the completion of the AGM, as ordered by the TSX Venture Exchange. As a significant shareholder in ScoZinc, Ashwath Mehra benefits from these monthly payments to extend the ScoZinc Transaction that may never occur (and which the Company is seeking to delay continually by extending the AGM date). Further, under the ScoZinc Transaction Mr. Mehra has a material interest in the ScoZinc Transaction of approximately $1.4 million.
The ScoZinc Transaction is not the only transaction that Mr. Mehra personally benefits from at the expense of the Company and its shareholders. The Concerned Shareholders objected to the transaction with Champion Iron Mines Limited (“Champion”) selling a valuable asset of Fancamp for a cash payment of $1.3 million as first announced on July 8, 2021 (the “Champion Royalty Purchase Agreement”). The Concerned Shareholders expressed strenuous opposition to the Champion Royalty Agreement that it was both well below market value and was a defensive tactic in order to buy votes. On July 15, 2021, only two days after the closing of the Champion Royalty Purchase Agreement, Mr. Mehra announced that he (through his company Astor Management AG “Astor”) acquired 22,000,000 shares of Fancamp. Although not stated in Mehra’s news release that the acquisition was from Champion, Champion issued a news release the following day announcing the sale of its entire position in Fancamp of 22,000,000 shares. Undoubtedly Mr. Mehra’s acquisition of the entire Champion position in Fancamp was negotiated along with the Champion Royalty Purchase Agreement. Only days later Mr. Mehra announced on July 19, 2021 that Astor had acquired another 6,668,000 shares in Fancamp taking its total shareholdings in Fancamp to 17.8%.
It is beyond doubt that despite the record date remaining the same, the delay in the AGM will allow the entrenched board and management to do whatever they can to try to buy more votes. Only you, the true owners of Fancamp can stop this from happening by voting the GREEN proxy and not being swayed or induced to change your vote for cash, employment or other perks that the Company offers to large shareholders.
The Concerned Shareholders will continue to solicit proxies in connection with the 2020 AGM and encourage shareholders to continue to vote the GREEN form of proxy. For those of you that have not voted or were unable to vote due to vacation etc., you can still vote your GREEN proxy. Even if you have already voted using the management form of proxy or voting instruction form you have every right to change your vote. Only the later dated proxy or voting instruction form will be counted at the AGM.
If you have any questions or require any assistance in executing your proxy or voting instruction form, please contact Gryphon Advisors Inc. at 1-833-461-3651 or email [email protected]. Shareholders are also encouraged to visit https://www.newsfilecorp.com/company/7723/Concerned-Shareholders-of-Fancamp-Exploration-Ltd to read the Concerned Shareholders press releases issued to date. The Concerned Shareholders would like to thank the true owners of the Company for their tremendous support to date. We urge you to stay the course, despite managements desperate and unethical attempts to entrench themselves at your expense, their days are numbered.
Advisors:
The Concerned Shareholders have retained Gryphon as it strategic shareholder communications and proxy advisor. Gryphon’s responsibility will include providing strategic advice and advising the Concerned Shareholders with respect to the Meeting and proxy protocol. Gryphon’s responsibilities will also include soliciting shareholders should the Concerned Shareholders commence a formal solicitation of proxies. Dr. Smith has also retained Farris LLP as legal counsel.
The registered address of Fancamp is located at 3200 – 650 West Georgia St. Vancouver, BC, V6B 4P7. The mailing and head office address of Fancamp is 7290 Gray Avenue, Burnaby, British Columbia V5J 3Z2. A copy of this press release may be obtained on Fancamp’ SEDAR profile at www.sedar.com.
For more information regarding the Concerned Shareholders’ position please contact:
Gryphon Advisors Inc.
Tel: 1-833-461-3651
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91942.
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.
Finastra Data Breach: A Wake-Up Call for Fintech Security
Source: KrebsOnSecurity
The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.
Implications and Challenges
While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.
The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.
Future Considerations
This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.
PayPal Resurrects Money Pooling Feature
Source: TechCrunch
In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.
Strategic Revival
This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.
Broader Industry Impacts
Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.
While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.
Santander Expands Fintech Reach in Mexico
Source: Yahoo Finance
Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.
Strategic Significance
Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.
Challenges on the Horizon
While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.
2024 Global Fintech Awards: Spotlighting Excellence
Source: PRNewswire
Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.
Recognizing Industry Leaders
Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.
What It Means for the Ecosystem
The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.
Commonwealth Central Credit Union Partners with Jack Henry
Source: FinTech Futures
Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.
Modernizing Member Experiences
Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.
A Growing Trend
This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.
Key Takeaways for the Fintech Industry
- Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
- Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
- Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
- Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
- Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.
The post Fintech Pulse: Industry Updates, Innovations, and Strategic Moves appeared first on News, Events, Advertising Options.
The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.
Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone
Source: Revolut
Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.
Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.
This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.
PayTech Awards 2025: Celebrating Excellence in Innovation
Source: FinTech Futures
The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.
This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.
As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.
U.S. Politics and the Fintech Sector: A New Era of Funding?
Source: American Banker
The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.
While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.
A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.
Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy
Source: FF News
Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.
The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.
This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.
Autire: Accounting Tech of the Year at US FinTech Awards
Source: Business Wire
Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.
Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.
The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.
Final Thoughts: A Fintech Revolution in Full Swing
From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.
The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.
The post Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech appeared first on .
-
Fintech3 days agoFintech Pulse: Industry Updates, Innovations, and Strategic Moves
-
Fintech2 days agoFintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations
-
Fintech PR4 days agoROLLER Releases 2025 Attractions Industry Benchmark Report, Unveiling Key Trends and Revenue Strategies
-
Fintech PR3 days agoTAILG Represents the Industry at COP29, Advancing South-South Cooperation with Low-Carbon Solutions
-
Fintech5 days agoFintech Pulse: Navigating Expansion, Innovation, and Sustainability
-
Fintech4 days agoFintech Pulse: Milestones, Partnerships, and Transformations in Fintech
-
Fintech PR2 days agoAlkira Ranked 25th Fastest-Growing Company in North America and 6th in the Bay Area on the 2024 Deloitte Technology Fast 500™
-
Fintech PR3 days agoThe CfC St. Moritz Announces New Speakers from BlackRock, Binance, Bpifrance, Temasek, PayPal, and More for Upcoming 2025 Conference