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Global Decision Analytics Company Copperleaf Completes Initial Public Offering

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Vancouver, British Columbia–(Newsfile Corp. – October 14, 2021) – Copperleaf Technologies Inc. (TSX: CPLF) (“Copperleaf” or the “Company”), a provider of enterprise decision analytics software solutions, announced today the successful closing of its previously announced initial public offering (the “Offering“) of common shares of the Company (“Common Shares“, and each a “Common Share“). Pursuant to the Offering, Copperleaf issued 10,741,000 Common Shares at a price of $15.00 per Common Share for total gross proceeds of $161,115,000, which includes the exercise in full by the Underwriters of their over-allotment option to purchase up to 1,401,000 additional Common Shares.

The Common Shares are listed on the Toronto Stock Exchange under the symbol “CPLF”.

“Completing this IPO is a significant milestone for Copperleaf and a testament to the hard work of our entire team,” said Judi Hess, CEO of Copperleaf. “The proceeds raised from this listing place us in a strong financial position for continued growth and success as we strive to help companies allocate their resources, time, and funds towards the most valuable areas of their business.”

The Offering was led by BofA Securities, BMO Capital Markets and William Blair, as joint bookrunners, and CIBC Capital Markets, RBC Capital Markets, Canaccord Genuity and Cormark Securities (collectively, the “Underwriters“). Fasken Martineau DuMoulin LLP is acting as legal counsel to the Company and Stikeman Elliott LLP is acting as legal counsel to the Underwriters.

No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”), as amended, or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the U.S. Securities Act). Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registrations requirements of the U.S. Securities Act and applicable state securities laws.

Prior to the completion of the Offering, (i) entities managed by PenderFund Capital Management Ltd. (“Pender“) held 7,921,641 Common Shares, representing approximately 13.7% of the Common Shares issued and outstanding; (ii) Export Development Canada (“EDC“) held 7,657,848 Common Shares, representing approximately 13.3% of the Common Shares issued and outstanding; and (iii) JNKS (2021) Investments Ltd. (“JNKS“) held 8,423,632 Common Shares, representing approximately 14.6% of the Common Shares issued and outstanding. After giving effect to the Offering, (i) entities managed by Pender hold 7,951,641 Common Shares, representing approximately 11.6% of the Common Shares issued and outstanding (ii) EDC holds 7,657,848 Common Shares, representing approximately 11.2% of the Common Shares issued and outstanding; and (iii) JNKS holds 8,423,632 Common Shares, representing approximately 12.3% of the Common Shares issued and outstanding. Each of Pender, EDC and JNKS has advised the Company that it intends to review its investment in the Company on a continuing basis. Subject to the 180-day lock-up that it has agreed to with the Underwriters, each of Pender, EDC and/or JNKS may determine to sell all or some of the Common Shares it holds, depending upon price, market conditions, availability of funds, evaluation of alternative investments, the interests of indirect investors and other factors it considers relevant from time to time.

Pender is organized under the laws of British Columbia and its registered office is 666 Burrard Street, Suite 2500, Vancouver, British Columbia V6C 2X8. EDC is established pursuant to an Act of Parliament and its registered office is 150 Slater Street, Ottawa, Ontario K1A 1K3. JNKS is organized under the laws of British Columbia and its registered office is 27th Floor, PO Box 49123, 595 Burrard Street, Vancouver, British Columbia V7X 1J2. An early warning report will be filed by each of Pender, EDC and JNKS in accordance with applicable securities laws and will be available on SEDAR at www.sedar.com or may be obtained directly from James Bowen upon request at 416-519-9442.

About Copperleaf:

Copperleaf provides enterprise decision analytics software solutions to companies managing critical infrastructure. We leverage operational and financial data to empower our clients to make investment decisions that deliver the highest business value. What sets us apart is our commitment to providing extraordinary experiences, shaped by people who care deeply, products that deliver exceptional value, and partnerships that stand the test of time. Copperleaf is a patron of The Institute of Asset Management and actively participates in shaping the future of asset management standards, including ISO 55000. Headquartered in Vancouver, Canada, our solutions are distributed and supported by regional staff and partners worldwide. Together, we are transforming how the world sees value.

For more details, visit https://www.copperleaf.com/

For further information:

James Bowen, CFA
416-519-9442
[email protected]

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99637

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Central banks and the FinTech sector unite to change global payments space

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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

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TD Bank inks multi-year strategic partnership with Google Cloud

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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

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MAS launches transformative platform to combat money laundering

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The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.

According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).

Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.

Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.

Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.

Source: fintech.global

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