Fintech
Transition Opportunities Corp. Announces Closing of Initial Public Offering
Calgary, Alberta–(Newsfile Corp. – April 21, 2022) – Transition Opportunities Corp. (TSXV: TOP.P) (the “Corporation”) is pleased to announce that it has successfully completed an initial public offering of 5,000,000 common shares of the Corporation (“Common Shares“) at a price of $0.10 per Common Share for gross proceeds of $500,000 (the “Offering“). After completion of the Offering, the Corporation now has 10,000,000 Common Shares issued and outstanding.
The Corporation is a “Capital Pool Company” and intends to use the net proceeds of the Offering to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the policies of the TSX Venture Exchange Inc. (the “Exchange“). The Common Shares will resume trading under the trading symbol “TOP.P” on April 25, 2022.
Haywood Securities Inc. (the “Agent“) acted as the agent for the Offering and in connection therewith, the Corporation granted the Agent common share purchase warrants to purchase 500,000 Common Shares at a price of $0.10 per Common Share, which may be exercised for a period of five years from the day the Common Shares are listed on the Exchange. In connection with the Offering, the Agent also received a cash commission equal to 10% of the gross proceeds of the Offering, a corporate finance fee, and was reimbursed for legal fees and reasonable expenses. Concurrent with the closing of the Offering, the Corporation also granted options to acquire an aggregate of 500,000 Common Shares at an exercise price of $0.10 per Common Share to the directors and officers of the Corporation, which expire five years from the date of grant. For more information, please refer to the Corporation’s final prospectus dated February 25, 2022.
John Pantazopoulos, the Chief Executive and Chief Financial Officer was quoted as saying “We have all witnessed the incredible growth potential and necessity of clean technology to meet growing global demand. Strong capital markets are essential to ensure companies have the ability to develop and bring to market real solutions to address the challenges of the future. Transition Opportunities Corp. is uniquely positioned to pursue opportunities as we look to partner with a strategic, high growth qualifying transaction counterparty. Our Board of Directors and Management, consisting of John Pantazopoulos, Kevin Staveley, Jeff Davison and Xiaodi Jin, each have experience and expertise in evaluating and financing of both public and private companies and we are excited to be working together on this new initiative. We are humbled by the support our investors have provided and look forward to creating shareholder value together”.
For further information, please contact:
Transition Opportunities Corp.
John Pantazopoulos – Chief Executive Officer, Chief Financial Officer, and Director
E-mail: [email protected]
Forward-Looking Information Cautionary Statement
Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative. Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or the Corporation’s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the Corporation’s stated use of proceeds and its expectation as to the resumption of trading of the Common Shares on the Exchange constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statement made in this press release are made as of the date hereof. The Corporation disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE INC. NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE INC.) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
**Not for distribution to United States Newswire Services or release publication, distribution or dissemination, directly or indirectly, in the United States.**
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121207
Fintech
Fintech Pulse: Your Daily Industry Brief (Plaid, Warner Bros., TransUnion, Monevo, FinVolution, CreditTech, Glenbrook Partners)
Op-Ed: The Dawn of a Fintech Spring
As the financial technology sector continues to navigate the complex post-pandemic landscape, recent developments suggest a revitalized period of growth and innovation. Key players are making bold moves, partnerships are forming, and underserved markets are gaining attention. In this briefing, we explore the latest headlines and what they reveal about the industry’s trajectory.
Plaid Reports Growth in Revenue and Usage Rates
Plaid, the connective tissue of the fintech ecosystem, has shown remarkable resilience and growth. The company’s CEO recently highlighted a surge in both revenue and usage rates, describing the current period as a “fintech spring.” This growth comes as consumer demand for seamless financial solutions remains high, despite macroeconomic challenges.
Plaid’s ability to maintain relevance is tied to its strategic partnerships and continuous innovation. By enabling applications like Venmo and Robinhood to thrive, Plaid underscores the importance of integration in fostering user trust and utility.
Source: Bloomberg
Warner Bros. Discovery Strengthens Board with Fintech Leadership
Warner Bros. Discovery is diversifying its board by bringing in SoFi CEO Anthony Noto and outgoing IAC Chief Executive Joseph Levin. This move signals the increasing influence of fintech expertise beyond traditional financial sectors. With Noto’s leadership in digital banking and Levin’s extensive background in technology-driven enterprises, Warner Bros. Discovery is positioning itself for a future that seamlessly blends media and financial technology.
This cross-industry synergy could lead to innovative offerings, bridging gaps between entertainment platforms and fintech applications, such as micro-investing and personalized financial recommendations for content consumers.
Source: Reuters
TransUnion to Acquire Monevo
Credit reporting agency TransUnion has announced its plans to acquire Monevo, a leading credit prequalification and distribution platform. This acquisition aims to enhance TransUnion’s capabilities in the credit technology space, allowing it to offer more personalized and accessible financial solutions to consumers.
By integrating Monevo’s platform, TransUnion is expected to provide lenders with advanced tools to better assess creditworthiness while empowering consumers with prequalified loan offers. This development is particularly timely as consumers increasingly seek transparency and efficiency in credit processes.
Source: TransUnion Press Release
FinVolution Highlights CreditTech Opportunities in Southeast Asia
Ming Gu, Senior Vice President of FinVolution, emphasized the transformative potential of CreditTech in Southeast Asia during his address at the Asian Financial Forum. With a significant portion of the region’s population still underserved by traditional financial institutions, CreditTech presents a unique opportunity to bridge the gap.
Gu pointed out that leveraging AI and data analytics can help tailor credit solutions for diverse needs, ultimately fostering financial inclusion and economic growth in these emerging markets. FinVolution’s insights reaffirm the critical role of fintech in empowering underserved communities.
Source: PR Newswire
Glenbrook Partners Launches On-Demand Learning Program
Payments consultancy Glenbrook Partners has introduced an on-demand learning platform designed to educate professionals in the payments industry. This initiative is expected to address the growing need for skilled talent as digital payment ecosystems expand globally.
The program offers modular content covering foundational and advanced topics, catering to professionals at various stages of their careers. By equipping individuals with in-depth knowledge, Glenbrook is contributing to the industry’s sustainability and growth.
Source: PR Newswire
Analysis and Takeaways
These stories collectively highlight a few key trends shaping the fintech landscape:
- Resilient Growth: Plaid’s trajectory reaffirms that consumer-centric innovations drive sector resilience even during economic uncertainties.
- Cross-Industry Integration: Warner Bros. Discovery’s board appointments underline fintech’s permeation into traditionally non-financial domains.
- Strategic Acquisitions: TransUnion’s acquisition of Monevo showcases how established players are leveraging fintech to enhance service offerings.
- Global Inclusivity: Efforts by FinVolution and others highlight the role of fintech in addressing global financial disparities.
- Education and Skill Development: Initiatives like Glenbrook’s program reflect a proactive approach to fostering a knowledgeable workforce.
The post Fintech Pulse: Your Daily Industry Brief (Plaid, Warner Bros., TransUnion, Monevo, FinVolution, CreditTech, Glenbrook Partners) appeared first on News, Events, Advertising Options.
Fintech
io.finnet and Cede Labs Partner to Transform Multi-Exchange Portfolio Management for Institutions
io.finnet, a leader in digital asset infrastructure, has partnered with Cede Labs, to introduce a solution for centralized exchange (CEX) connectivity. This collaboration provides institutional clients with a streamlined, secure platform for comprehensive multi-exchange portfolio management. Through this integration, io.finnet clients can now access leading exchanges such as Binance, Coinbase, Bybit, OKX, Kraken and more with features tailored for institutional-grade governance and operational efficiency.
Institutional digital asset management faces increasing complexity as businesses demand more secure and efficient tools to oversee diverse portfolios. With 70% of institutional investors expecting a surge in digital asset-focused funds, the need for secure and efficient multi-exchange solutions has never been greater.
“Businesses require solutions that simplify the complexity of managing assets across exchanges while maintaining the highest standards of security.” said Jacob Plaster, CTO of io.finnet. “Through our partnership with Cede Labs, clients can seamlessly connect their exchange accounts and manage their entire portfolio within a unified, secure environment.”
Unlike traditional offerings, io.finnet’s integration with Cede Labs introduces secure account-linking capabilities, allowing clients to effortlessly connect and unlink their exchange accounts while adhering to strict governance protocols. Unified tracking capabilities further enhance this solution, enabling users to monitor their portfolios across all connected exchanges in real-time. This includes the ability to oversee spot and trading wallets, derivatives positions, and sub-accounts under a single pane of glass, a feature few competitors offer at this scale.
Pierre Ni, CEO of Cede Labs, highlighted the impact on institutional workflows: “We are proud to collaborate with io.finnet to redefine digital asset custody and management. By unlocking new use cases for corporates, market makers, liquid funds, foundations, and fintechs through CEX connectivity, we believe io.finnet can grow to become one of the top self-custody players.”
This partnership is particularly timely as market demand for interoperable solutions continues to rise. The integration will eliminate the need to navigate multiple platforms and provide institutions with real-time visibility across their digital asset holdings, enabling seamless exchange connectivity and enhanced risk management.
io.finnet is committed to enhancing its exchange connectivity capabilities with deposits, withdrawals, trades, and sub-account transfers to further streamline asset management workflows. Stay tuned for exciting updates as we expand the possibilities of our Exchange Connectivity feature.
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Welcome to Blocks & Headlines, your comprehensive daily briefing on the transformative world of blockchain. Today, we explore groundbreaking partnerships, economic innovations, and blockchain-powered initiatives redefining the future.
Sony Ventures Into Blockchain With New Identity Solutions
Sony has unveiled its latest blockchain-based digital identity solution designed to enhance privacy and security in the online space. This innovative system uses decentralized technology to manage digital credentials, making identity verification seamless and secure.
Sony’s venture reflects a broader trend among tech giants exploring blockchain’s potential to reshape data privacy and authentication systems.
Source: Sony Press Release
TRON’s Daily Revenue Skyrockets 119% in 2024
TRON has reported a staggering 119% increase in daily revenue, a testament to its innovative blockchain economic models. By leveraging smart contracts and a scalable infrastructure, TRON continues to attract developers and businesses seeking cost-efficient blockchain solutions.
This growth positions TRON as a leading player in the competitive blockchain ecosystem, setting benchmarks for others to follow.
Source: Bitcoin.com
MIGMIG Partners With XT.com to Bring Blockchain Rewards
MIGMIG, a blockchain gaming and rewards platform, has partnered with XT.com to expand its reach and user engagement. This collaboration aims to deliver unique blockchain-powered rewards while enhancing the gaming experience for users worldwide.
The partnership highlights the increasing intersection of blockchain technology and entertainment, opening new avenues for user interaction.
Source: Bitcoinist
Nano Labs Supports the Inaugural Presidential Crypto Ball
Nano Labs has announced a partnership with the Inaugural Presidential Crypto Ball, emphasizing its commitment to fostering blockchain awareness. This high-profile event aims to bridge the gap between blockchain innovators and policymakers, paving the way for broader adoption.
The initiative underscores the importance of collaboration between the blockchain community and governmental bodies to shape the future of digital assets.
Source: PR Newswire
Bybit Card Partners With EnTravel for Luxury Travel Perks
Bybit has teamed up with EnTravel to offer its cardholders exclusive discounts on luxury travel experiences. This partnership integrates blockchain-powered payment solutions with high-end travel services, providing users with unparalleled convenience and value.
The move exemplifies how blockchain technology can enhance traditional industries, offering innovative solutions tailored to modern consumer needs.
Source: PR Newswire
Key Insights and Industry Trends
- Decentralized Identity: Sony’s blockchain-based solution addresses growing concerns over online security and privacy.
- Economic Innovations: TRON’s revenue surge highlights the profitability of scalable blockchain networks.
- Gaming and Blockchain: Partnerships like MIGMIG and XT.com showcase the potential of blockchain in entertainment.
- Policy and Collaboration: Nano Labs’ involvement in the Crypto Ball underscores the importance of industry-government dialogue.
- Luxury Integration: Bybit and EnTravel demonstrate blockchain’s ability to enhance traditional services.
The post Blocks & Headlines: Today in Blockchain ( appeared first on News, Events, Advertising Options.
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