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
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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