Fintech
Battery Road Capital Corp. Provides Status Update
Halifax, Nova Scotia–(Newsfile Corp. – August 23, 2021) – Battery Road Capital Corp., (TSXV: BTRY.P) (“Battery Road” or the “Corporation“), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the “TSXV“), is providing this status update relating to the Qualifying Transaction of the Corporation with E-Tech Kalapuse Mining (Pty) Ltd. (“E-Tech Namibia“).
Closing of Private Placement
As of June 8, 2021 Battery Road has closed its brokered private placement financing (the “Offering“) previously announced in a press release dated June 1, 2021. The Offering consisted of gross proceeds of $5,000,000 raised through the issuance of 20,000,000 subscription receipts (“Subscription Receipts“) at a price of $0.25, each convertible into one post-split common share of Battery Road (“Shares“), subject to adjustment if the anticipated stock split (the “Split“) contemplated as part of the Qualifying Transaction, also previously announced in the press release dated June 1, 2021, does not occur.
The Subscription Receipts and the Shares issuable in exchange for the Subscription Receipts are subject to a four-month statutory hold period expiring October 9, 2021.
The proceeds of the Offering will be used after completion of the Qualifying Transaction to facilitate exploration activities at the Eureka neodymium and praseodymium project, located in central west Namibia, and for general working capital purposes.
The gross proceeds raised in connection with the Offering (the “Escrowed Funds“) have been deposited into escrow pursuant to the terms of a subscription receipt agreement among Computershare Trust Company of Canada (the “Escrow Agent“) and the Corporation dated June 8, 2021 and shall be released to Battery Road upon receipt by the Escrow Agent of joint notice of Battery Road and E-Tech Namibia stating that the Qualifying Transaction has closed, at which time each Subscription Receipt shall automatically be exchanged for Shares with no further consideration payable.
If the Qualifying Transaction is not completed by 5:00 p.m. (Halifax time) on December 31, 2021 or such later date as Battery Road and the Escrow Agent may agree in writing or if, prior to such time, Battery Road advises the Agent in writing or announces to the public that it does not intend to satisfy the escrow release conditions outlined in the Subscription Receipt Agreement, and unless the requisite approval is obtained, all of the issued and outstanding Subscription Receipts will be cancelled and the Escrow Agent will return to each holder of Subscription Receipts, an amount equal to the subscription price for the Subscription Receipts held by such holder plus a pro rata share of any interest or other income earned on the Escrowed Funds (less applicable withholding tax, if any).
In connection with the Offering, Numus Capital Corp. (the “Agent“) in its capacity as agent, will receive, conditional upon closing of the Qualifying Transaction: (a) a cash commission equal to $350,000 (being 7.0% of the aggregate gross proceeds raised by Battery Road from the sale of the Subscription Receipts in connection with the Offering); and (b) convertible compensation warrants entitling the Agent to purchase 1,400,000 Post-Split Shares in Battery Road (being equal to seven percent (7%) of the Subscription Receipts in the Offering), with conversion terms adjusted if the Split does not occur. This is expected to equate to 1,400,000 Post-Split Shares after exercise of the warrants. The compensation warrants are non-transferable, and may be exercised for a period of 24 months after the closing of the Qualifying Transaction at a price of $0.25 each.
Certain subscribers in the Offering are related parties or insiders to Battery Road:
| Related Party or Insider | # of shares purchased in the Offering on a post-split basis (5) | # of Listed Shares held on closing of the Qualifying Transaction |
% of outstanding Listed Shares held on closing of the Qualifying Transaction(6) |
| Garry Stewart (1) | 80,000 | 280,000 | 0.34% |
| Birchpoint Holdings Inc. (2) | 800,000 | 2,385,186 | 2.87% |
| Torrent Capital Ltd.(3) | 1,290,000 | 1,790,000 | 2.16% |
| Chris Drysdale (4) | 40,000 | 40,000 | 0.05% |
| Ken Marshall (4) | 100,000 | 100,000 | 0.12% |
| John Philpott (4) | 120,000 | 120,000 | 0.14% |
| Total | 2,430,000 | 4,715,186 | 5.68% |
Notes:
(1) Officer of Battery Road Capital Corp.
(2) Controlled by Daniel Whittaker, Director of Battery Road Capital Corp.
(3) Related party to Battery Road Capital Corp.
(4) Director of Resulting Issuer after Qualifying Transaction
(5) Presumes conversion of subscription receipts into common shares of Battery Road on a post-split basis.
(6) Percentages based on presumed outstanding capital post Qualifying Transaction of 82,971,530 common shares
Participation of related parties in the Offering, including future directors of the resulting issuer on closing of the Qualifying Transaction totaled $607,500 and falls below the threshold for shareholder approval under applicable securities laws. Battery Road is relying upon an exemption for shareholder approval under section 5.7(1)(b) of MI 61-101 on the basis that the fair market value of the securities purchased by interested parties to the Offering is not more than $2,500,000 and the Offering has been approved by the independent director of Battery Road.
Closing of the Qualifying Transaction is subject to the satisfaction of customary closing conditions for a transaction of such nature, including approval of the TSXV and the receipt of approval of the disinterested shareholders of the Company of the fees in connection with the Offering owing to the Agent, which is a related party to the Corporation. The special meeting of shareholders of the Corporation to consider the disinterested shareholder approval of the fees owing to the Agent in relation to the Offering, and approving other aspects relating to the Qualifying Transaction will be scheduled at a future date.
Extension Agreement
The parties to the previously announced share exchange agreement dated as of October 10, 2020 among the Corporation, E-Tech Namibia, and the holders of all its outstanding shares, have entered into an extension agreement dated July 13, 2021 increasing the amount of time parties have to complete the Qualifying Transaction to December 31, 2021.
About Battery Road Capital Corp.
Battery Road is a Capital Pool Company listed on the TSX Venture Exchange. Its principal business is the identification and evaluation of assets or businesses with a view to completing a qualifying transaction. Battery Road has not commenced commercial operations and has no assets other than cash.
For further information please contact:
Jim Megann, Director
Battery Road Capital Corp.
902-442-7192
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to TSXV 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 Qualifying Transaction, any information released or received with respect to the Qualifying 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 TSXV has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Service Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Battery Road to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Examples of such statements include the intention to complete the Qualifying Transaction; release of the Offering proceeds from escrow to the Corporation; and, the Split. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: satisfying conditions under the agreements forming part of the Qualifying Transaction; satisfying the requirements of the TSXV with respect to proposed Qualifying Transaction; consumer interest in Battery Road’s services and products; competition; and anticipated and unanticipated costs. While Battery Road anticipates that subsequent events and developments may cause its views to change, Battery Road specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing Battery Road’s views as of any date subsequent to the date of this press release. Although Battery Road has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect Battery Road. Additional factors are noted under “Risk Factors” in Battery Road’s initial public offering prospectus dated August 10, 2018, a copy of which may be obtained on the SEDAR website at www.sedar.com.
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder approval. Where applicable, the Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying 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.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94084
Modern brands stake on influencer marketing, with 76% of users making a purchase after seeing a product on social media.The cryptocurrency industry is no exception to this trend. However, promoting crypto products through influencer marketing can be particularly challenging. Crypto influencers pose a significant risk to a brand’s reputation and ROI due to rampant scams. Approximately 80% of channels provide fake statistics, including followers counts and engagement metrics. Additionally, this niche is characterized by high CPMs, which can increase the risk of financial loss for brands.
In this article Nadia Bubennnikova, Head of agency Famesters, will explore the most important things to look for in crypto channels to find the perfect match for influencer marketing collaborations.
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Comments
There are several levels related to this point.
LEVEL 1
Analyze approximately 10 of the channel’s latest videos, looking through the comments to ensure they are not purchased from dubious sources. For example, such comments as “Yes sir, great video!”; “Thanks!”; “Love you man!”; “Quality content”, and others most certainly are bot-generated and should be avoided.
Just to compare:
LEVEL 2
Don’t rush to conclude that you’ve discovered the perfect crypto channel just because you’ve come across some logical comments that align with the video’s topic. This may seem controversial, but it’s important to dive deeper. When you encounter a channel with logical comments, ensure that they are unique and not duplicated under the description box. Some creators are smarter than just buying comments from the first link that Google shows you when you search “buy YouTube comments”. They generate topics, provide multiple examples, or upload lists of examples, all produced by AI. You can either manually review the comments or use a script to parse all the YouTube comments into an Excel file. Then, add a formula to highlight any duplicates.
LEVEL 3
It is also a must to check the names of the profiles that leave the comments: most of the bot-generated comments are easy to track: they will all have the usernames made of random symbols and numbers, random first and last name combinations, “Habibi”, etc. No profile pictures on all comments is also a red flag.
LEVEL 4
Another important factor to consider when assessing comment authenticity is the posting date. If all the comments were posted on the same day, it’s likely that the traffic was purchased.
2. Average views number per video
This is indeed one of the key metrics to consider when selecting an influencer for collaboration, regardless of the product type. What specific factors should we focus on?
First & foremost: the views dynamics on the channel. The most desirable type of YouTube channel in terms of views is one that maintains stable viewership across all of its videos. This stability serves as proof of an active and loyal audience genuinely interested in the creator’s content, unlike channels where views vary significantly from one video to another.
Many unauthentic crypto channels not only buy YouTube comments but also invest in increasing video views to create the impression of stability. So, what exactly should we look at in terms of views? Firstly, calculate the average number of views based on the ten latest videos. Then, compare this figure to the views of the most recent videos posted within the past week. If you notice that these new videos have nearly the same number of views as those posted a month or two ago, it’s a clear red flag. Typically, a YouTube channel experiences lower views on new videos, with the number increasing organically each day as the audience engages with the content. If you see a video posted just three days ago already garnering 30k views, matching the total views of older videos, it’s a sign of fraudulent traffic purchased to create the illusion of view stability.
3. Influencer’s channel statistics
The primary statistics of interest are region and demographic split, and sometimes the device types of the viewers.
LEVEL 1
When reviewing the shared statistics, the first step is to request a video screencast instead of a simple screenshot. This is because it takes more time to organically edit a video than a screenshot, making it harder to manipulate the statistics. If the creator refuses, step two (if only screenshots are provided) is to download them and check the file’s properties on your computer. Look for details such as whether it was created with Adobe Photoshop or the color profile, typically Adobe RGB, to determine if the screenshot has been edited.
LEVEL 2
After confirming the authenticity of the stats screenshot, it’s crucial to analyze the data. For instance, if you’re examining a channel conducted in Spanish with all videos filmed in the same language, it would raise concerns to find a significant audience from countries like India or Turkey. This discrepancy, where the audience doesn’t align with regions known for speaking the language, is a red flag.
If we’re considering an English-language crypto channel, it typically suggests an international audience, as English’s global use for quality educational content on niche topics like crypto. However, certain considerations apply. For instance, if an English-speaking channel shows a significant percentage of Polish viewers (15% to 30%) without any mention of the Polish language, it could indicate fake followers and views. However, if the channel’s creator is Polish, occasionally posts videos in Polish alongside English, and receives Polish comments, it’s important not to rush to conclusions.
Example of statistics
Wrapping up
These are the main factors to consider when selecting an influencer to promote your crypto product. Once you’ve launched the campaign, there are also some markers to show which creators did bring the authentic traffic and which used some tools to create the illusion of an active and engaged audience. While this may seem obvious, it’s still worth mentioning. After the video is posted, allow 5-7 days for it to accumulate a basic number of views, then check performance metrics such as views, clicks, click-through rate (CTR), signups, and conversion rate (CR) from clicks to signups.
If you overlooked some red flags when selecting crypto channels for your launch, you might find the following outcomes: channels with high views numbers and high CTRs, demonstrating the real interest of the audience, yet with remarkably low conversion rates. In the worst-case scenario, you might witness thousands of clicks resulting in zero to just a few signups. While this might suggest technical issues in other industries, in crypto campaigns it indicates that the creator engaged in the campaign not only bought fake views and comments but also link clicks. And this happens more often than you may realize.
Summing up, choosing the right crypto creator to promote your product is indeed a tricky job that requires a lot of resources to be put into the search process.
Author
Nadia Bubennikova, Head of agency at Famesters
The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.
Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.
Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).
At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.
The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.
As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.
Source: fintech.globa
The post Central banks and the FinTech sector unite to change global payments space appeared first on HIPTHER Alerts.
TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.
The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.
This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.
TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.
Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.
TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.
Source: fintechfutures.com
The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.
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