Fintech
1319738 B.C. Ltd. to Acquire DevvESG Streaming, Inc.
Toronto, Ontario–(Newsfile Corp. – December 21, 2021) – 1319738 B.C. Ltd. (the “Company“ or “Pubco“) is pleased to announce that it has signed a business combination agreement (the “Agreement“) pursuant to which the Company will acquire (the “Proposed Transaction“) all of the outstanding securities of DevvESG Streaming, Inc. (“DESG“), a Delaware-based, ESG principled, high-tech, impact investing company focused on high quality and high return carbon credit generating projects. DESG offers investors exposure to carbon credits, a key instrument used to reduce emissions of carbon dioxide and other greenhouse gases from industrial activities to reduce the effects of global warming. The Proposed Transaction is expected to constitute a reverse takeover of Pubco.
Merger & DESG Concurrent Financing
Pursuant to the Proposed Transaction, the Company will acquire all of the issued and outstanding subordinate voting shares (the “DESG Subordinate Voting Shares“) and multiple voting shares (the “DESG Multiple Voting Shares“) of DESG by way of three cornered merger (the “Merger“) among the Company, a wholly-owned Delaware subsidiary of the Company and DESG. Under the Merger, (i) each DESG Subordinate Voting Share will be cancelled and the former holders of DESG Subordinate Voting Shares will receive one subordinate voting share of Pubco (each, a “Pubco Subordinate Voting Share“) for each DESG Subordinate Voting Share held, and (ii) each DESG Multiple Voting Share will be cancelled and the former holders of DESG Multiple Voting Shares will receive one multiple voting share of Pubco (each, a “Pubco Multiple Voting Share“) for each DESG Multiple Voting Share held. Outstanding warrants of DESG (the “DESG Warrants“) will be cancelled and the former holders of the DESG Warrants will receive warrants to acquire securities of Pubco, which warrants will be on substantially the same terms and conditions as the DESG Warrants, except for the right to receive Pubco Subordinate Voting Shares in lieu of DESG Subordinate Voting Share upon, among other things, payment of the applicable exercise price.
Additionally, prior to completion of the Transaction, DESG is expected to complete a private placement (the “DESG Concurrent Financing“) of units of DESG (the “DESG Units“) at a price of $0.80 per DESG Unit for gross proceeds, when combined with the Finco Concurrent Financing (defined below), of approximately $10,000,000. Each DESG Unit will consist of one DESG Subordinate Voting Share and one-half of one transferable subordinate share purchase warrant (each full warrant, a “DESG Financing Warrant“). Each DESG Financing Warrant will entitle the holder to purchase, upon exercise thereof, one DESG Subordinate Voting Share at a price of $1.50 per share for a period of 24 months from the closing date of the Proposed Transaction. DESG may pay finder’s fees to certain eligible finders in connection with the DESG Concurrent Financing.
Amalgamation & Finco Concurrent Financing
In connection with the Proposed Transaction, DevvESG Streaming Finco Ltd. (“Finco“), a wholly-owned British Columbia subsidiary of DESG incorporated as a special purpose financing vehicle, will complete a private placement (the “Finco Concurrent Financing“) of special warrants (the “Special Warrants“) at a price of $0.80 per Special Warrant for gross proceeds, when combined with the DESG Concurrent Financing, of approximately $10,000,000. Each Special Warrant will automatically convert, without payment of any additional consideration, into one unit of Finco (each, a “Finco Unit“) consisting of one common share of Finco (each, a “Finco Share“) and one half of one transferable common share purchase warrant (each full warrant, a “Finco Warrant“) on the date which is the earlier of (i) such date as determined by Finco subsequent to the Pubco Subordinate Voting Shares being conditionally approved for listing on the NEO Exchange or another national stock exchange, and (ii) four months and one day following the date of issuance of the Special Warrants. Each Finco Warrant will entitle the holder to purchase, upon exercise thereof, one Finco Share at a price of $1.50 per share for a period of 24 months from the closing date of the Proposed Transaction. Finco may pay finder’s fees to certain eligible finders in connection with the Finco Concurrent Financing.
Pursuant to the Proposed Transaction, the Company will acquire all of the issued and outstanding Finco Shares by way of three cornered amalgamation (the “Amalgamation“) among the Company, a wholly-owned British Columbia subsidiary of the Company (“BC Subco“) and Finco. Under the Amalgamation, (i) each Finco Share will be cancelled and the former holders of Finco Shares will receive one Pubco Subordinate Voting Share for each Finco Share held. Outstanding Finco Warrants will be cancelled and the former holders of the Finco Warrants will receive warrants to acquire securities of Pubco, which warrants will be on substantially the same terms and conditions as the Finco Warrants, except for the right to receive Pubco Subordinate Voting Shares in lieu of Finco Shares upon, among other things, payment of the applicable exercise price.
Share Amendment, Consolidation & Name Change
In connection with the Proposed Transaction, Pubco will (i) undergo a consolidation (the “Consolidation“) of the common shares of Pubco (the “Pubco Shares“) on a ratio that results in there being 1,250,000 post-consolidation Pubco Shares outstanding immediately prior to completion of the Proposed Transaction; (ii) change its name to DevvESG Streaming Inc. or such other name designated by DESG (the “Name Change“); and (iii) amend its current articles to (a) amend the terms of the existing Pubco Shares to become an unlimited number of “Subordinate Voting Shares”; and (b) create a new class of shares consisting of an unlimited number of “Multiple Voting Shares” (the “Share Amendments“).
Following the completion of the Transaction, the outstanding capital of the Company is expected to consist of 27,250,000 Pubco Subordinate Voting Shares and 4,650,000 Pubco Multiple Voting Shares.
Board and Management Changes
It is the parties’ intention that upon closing of the Proposed Transaction, the board of directors and officers of the Resulting Issuer be reconstituted to be comprised of Sunny Trinh (Chief Executive Officer), David Goertz (Chief Financial Officer), Chris Merkel (Chief Operating Officer), William Stewart (Director), Tom Anderson (Director), Ray Quintana (Director) and Danny Matthews (Director), or such other directors and officers as DESG may determine in its discretion.
Closing Conditions
The completion of the Proposed Transaction remains subject to a number of terms and conditions, including, among other things (1) completion of the DESG Concurrent Financing and Finco Concurrent Financing; (2) the Pubco Subordinate Voting Shares having been conditionally approved for listing on the NEO Exchange; and (3) the completion of the Consolidation, Name Change and Share Amendments in a manner satisfactory to DESG.
About DESG
DESG is an ESG principled, high-tech, impact investing company focused on high quality and high return carbon credit generating projects. DESG offers investors exposure to carbon credits, a key instrument used to reduce emissions of carbon dioxide and other greenhouse gases from industrial activities to reduce the effects of global warming. DESG’s technology partnership with Devvio, Inc. (“Devvio“) provides DESG access to Devvio’s proprietary ESG blockchain platform (the “DevvESG Platform“). Through the DevvESG Platform, DESG can efficiently evaluate the quality of potential carbon offset projects and companies and thus is able to select the highest grade carbon credits for investment. The DevvESG Platform further facilitates the creation and tracking of the immutable, and thus secure and reliable, carbon credits on the DevvESG Platform’s blockchain network.
For further information please contact Binyomin Posen at 416 869-1234.
ON BEHALF OF THE BOARD
(signed) “Binyomin Posen“
Binyomin Posen
Director
The securities of the Company have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. 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 the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
All information contained in this news release with respect to Pubco, Delaware Subco and BC Subco was supplied by the Company and all information in this news release with respect to DESG, Finco and Devvio was supplied by DESG, for inclusion herein, and Pubco and its directors and officers have relied on DESG for any information concerning such parties.
This news release contains forward-looking statements relating to the timing and completion of the Proposed Transaction, the future operations of the Company and DESG and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Proposed Transaction and the future plans and objectives of the Company and DESG are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of the Company and DESG include the failure to satisfy the conditions to completion of the Proposed Transaction set forth above and other risks detailed from time to time in the filings made by the Company and DESG under securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and DESG. As a result, the Company and DESG cannot guarantee that the Proposed Transaction will be completed on the terms and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company and DESG will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED 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/108276
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 .
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