Fintech
Beedie Investments Ltd. Files Early Warning Report
Vancouver, British Columbia–(Newsfile Corp. – September 26, 2022) – Beedie Investments Ltd. (“Beedie Investments“) announces that it has acquired Series D Convertible Debentures (the “Series D Debentures“) of Oceanic Iron Ore Corp. (the “Company“) in the aggregate principal amount of $304,000 (the “Purchased Debentures“) pursuant to a non-brokered private placement. The Series D Debentures have an interest rate of 8.5% per annum and a maturity date that is the fifth anniversary of the closing date, being September 26, 2027 (the “Maturity Date“). The Series D Debentures will be secured by way of a first charge against the assets of the Company, ranking pari passu with the holders of the Replacement Debentures (as defined below), the Series B Convertible Debentures (the “Series B Debentures“) and the Series C Convertible Debentures (the “Series C Debentures“) of the Company.
The principal amount outstanding under the Series D Debentures is convertible into units (“Series D Units“). The conversion price for the Series D Debentures is $0.07 per Series D Unit from the closing date to and including the first anniversary of the closing date, being September 26, 2023 (the “First Conversion Term“), and $0.10 per Series D Unit after the First Conversion Term and on or prior to the Maturity Date (the “Second Conversion Term“). Each Series D Unit consists of one common share of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“). Each Warrant entitles the holder to purchase one Common Share at a price of $0.07 per Common Share, and is exercisable for the period commencing on the date of conversion of such Series D Debenture and ending on the Maturity Date.
Assuming the conversion in full of the Purchased Debentures and the exercise in full of the Warrants issuable upon such conversion, the Purchased Debentures are convertible into: (a) 8,685,714 Common Shares if converted during the First Conversion Term, representing approximately 8.24% of the issued and outstanding Common Shares after giving effect to such conversion, and (b) 6,080,000 Common Shares if converted during the Second Conversion Term, representing approximately 5.91% of the issued and outstanding Common Shares after giving effect to such conversion.
Replacement Debentures
On September 26, 2022, Beedie Investments also entered into an agreement with the Company pursuant to which the Company agreed to replace Beedie Investments’ previously purchased Series A Convertible Debentures (the “Series A Debentures“) of the Company in the principal amount of $200,000 with the debentures (the “Replacement Debentures“) in the same principal amount (the “Purchased Replacement Debentures“).
The Replacement Debentures are convertible into units (“Replacement Units“) comprised of one Common Share and one Warrant. The terms of the Replacement Debentures will be the same as the Series A Debentures, other than (i) the conversion price of such Replacement Debentures, (ii) the exercise price of Warrants comprising the Replacement Units, and (iii) the maturity date of the Replacement Debentures, which in each case, will be the same as those of the Series D Debentures. The Replacement Debentures are secured by way of a first charge against the assets of the Company, ranking pari passu with the holders of the Series B Debentures, the Series C Debentures and Series D Debentures.
Assuming the conversion in full of the Purchased Replacement Debentures and the exercise in full of the Warrants issuable upon such conversion, the Purchased Replacement Debentures are convertible into: (a) 5,714,285 Common Shares if converted during the First Conversion Term, representing approximately 5.58% of the issued and outstanding Common Shares after giving effect to such conversion, and (b) 4,000,000 Common Shares if converted during the Second Conversion Term, representing approximately 3.97% of the issued and outstanding Common Shares after giving effect to such conversion.
Prior to its acquisition of the Purchased Debentures and the Purchased Replacement Debentures, Beedie Investments held a total of (i) 3,314,000 Common Shares, (ii) Series A Debentures in the principal amount of $200,000, (iii) Series B Debentures in the principal amount of $837,500 (the “Purchased Series B Debentures“), and (iv) Series C Debentures in the principal amount of $200,640 (the “Purchased Series C Debentures” and together with the Purchased Series B Debentures, the “Previously Purchased Debentures“).
Today’s acquisition of the Purchased Debentures and Purchased Replacement Debentures brings the total number of Common Shares owned or deemed to be owned by Beedie Investments to 36,575,999 Common Shares, in the case of conversion of the Purchased Debentures and Purchased Replacement Debentures during the First Conversion Term, or 32,256,000 Common Shares, in the case of conversion of the Purchased Debentures and Purchased Replacement Debentures during the Second Conversion Term (assuming conversions in full of the Previously Purchased Debentures the Purchased Debentures and the Purchased Replacement Debentures and the exercise in full of the Warrants issuable upon such conversions).
Ryan Beedie is the sole shareholder of Beedie Investments.
Beedie Investments acquired the Purchased Debentures and Purchased Replacement Debentures for investment purposes. Beedie Investments reviews its holdings in the Company on a continuing basis and may from time to time and at any time, in its sole discretion, acquire or cause to be acquired additional equity or debt securities or other instruments of the Company, or dispose or cause to be disposed such equity or debt securities or instruments, through open market transactions, private placements by the Company and other privately negotiated transactions, or otherwise, in each case in accordance with applicable securities laws.
This press release is being issued pursuant to the requirements of Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report relating to Beedie Investment’s acquisition of the Purchased Debentures will be available under the Company’s profile on SEDAR (www.sedar.com), and may also be obtained by contacting Beedie Investments at (604) 435-3321.
Beedie Investments Ltd.
Suite 1570, 1111 West Georgia Street
Vancouver, BC V6E 4M3
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138536
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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