Fintech
Lendified Announces Common Share Subscription Agreement with Investor
Toronto, Ontario–(Newsfile Corp. – August 17, 2022) – Lendified Holdings Inc. (TSXV: LHI) (the “Company” or “Lendified“) is pleased to announce that it has entered into a Common Share Subscription Agreement (the “Subscription Agreement“) with a third-party investor in the Company (the “Investor“). The Subscription Agreement allows the Company to issue and sell up to $10,000,000 of common shares in the capital of the Company (the “Common Shares“), not to exceed such number of Common Shares that would cause the Investor to hold over 9.99% of the issued and outstanding Common Shares, from treasury to the Investor, from time to time, in a series of closings (each, a “Draw Closing“) at the Company’s discretion and on the terms and subject to the conditions set out in the Subscription Agreement. For each Draw Closing, the Common Shares will be issued on a private placement basis.
Issuances of the Common Shares to the Investor will be made pursuant to the terms of the Subscription Agreement which provides that, in order to fix a date for a Draw Closing, the Company must issue a notice (each, a “Draw Notice“) to the Investor of such intention to draw under the Subscription Agreement on or prior to the tenth trading day in each calendar month. The Draw Notice shall set out the amount of subscription proceeds to be paid by the Investor to the Company (the “Draw Amount“) in respect of such Draw Closing, together with the number of Common Shares that will be issued to the Investor. The aggregate Draw Amount in any given calendar month shall be a minimum of $10,000 and a maximum of $150,000, subject to increase by agreement between the parties, and provided that the Draw Amount will not result in the Investor becoming an Insider under the policies of the TSX Venture Exchange (“TSXV“). The issue price per Common Share for a Draw Closing shall be equal to: (i) if the market price of the Common Shares on the TSXV is greater than $0.055 per share, the volume weighted average price of the Common Shares on the TSXV, for the twenty (20) trading days preceding the last trading day of the Common Shares on the TSXV prior to the Company delivering a Draw Notice to the Investor, less 9.9% (subject to a minimum of $0.05 per share); and (ii) if the market price of the Common Shares on the TSXV are equal to or less than $0.055 per share, the market price (subject to a minimum of $0.01 per share).
The Subscription Agreement will remain in force and effect until the earlier of: (i) termination by either the Company or the Investor, on thirty (30) days’ prior written notice; (ii) the date on which $10,000,000 aggregate Draw Amount is reached; (iii) the date on which a material adverse effect or a change of control has occurred in respect of the Company; and (iv) the date on which the parties mutually agree in writing to terminate the Subscription Agreement.
Throughout the term of the Subscription Agreement, the Company may issue no more than one Draw Notice per calendar month for such Draw Amounts as it may elect, provided that certain conditions, including the following, are met: (i) the Draw Amount in any one Draw Notice can be no less than $10,000 and no more than $150,000; (ii) the aggregate amount of all Draw Amounts during the term of the Subscription Agreement shall be no greater than $10,000,000; (iii) the issuance of Common Shares in the Draw Notice will not result in the Investor holding more than 9.99% of the issued and outstanding Common Shares; (iv) the Common Shares issued pursuant to the Draw Notice shall have been conditionally approved for listing by the TSXV; (v) on the trading day prior to the delivery of the Draw Notice, the daily trading volume of the Common Shares on the TSXV is not less than the 30-day average trading volume of the Common Shares on the TSXV; and (vi) on the trading day prior to the delivery of the Draw Notice, the 10-day trading volume of the Common Shares on the TSXV is not greater than 10% of the 30-day average trading volume of the Common Shares on the TSXV.
The Subscription Agreement provides the Company with enhanced flexibility and access to capital should future additional financing be required, and it may be activated if and as deemed appropriate. The Company intends to use the net proceeds from the Draw Closings, if any, for general corporate purposes.
In connection with each Draw Closing and if permitted by the TSXV, the Company will pay the Investor a draw fee equal to 5% of the applicable Draw Amount. There is no agent or underwriter involved with the issuance of the Common Shares, and no party is receiving a commission or finder’s fee in connection with the Subscription Agreement. As at the date hereof, no Common Shares have been distributed by the Company pursuant to the Subscription Agreement, resulting in aggregate proceeds of $NIL to the Company under the Subscription Agreement.
ABOUT LENDIFIED HOLDINGS INC.
Lendified, a company located in Ontario, Canada, is a Canadian company operating a lending platform which provides working capital loans to small and medium-sized businesses across Canada.
Further Information
For further information regarding Lendified, please contact:
Eoghan Bergin, Chief Executive Officer and Director
1-844-451-3594
[email protected]
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements which reflect the Company’s current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan, “estimate”, “expect”, “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the number of Common Shares that may be sold under the Subscription, whether the Subscription Agreement will be approved by the TSXV or if the proceeds of the Draws under the Subscription Agreement will be sufficient for the Company’s purposes, whether the effects of the COVID-19 pandemic will be even more severe than it has been to date, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company’s ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134180
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
The post Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets appeared first on .
Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
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