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Broadway Strategic Metals Signs Binding Agreement to Merge with Rossiter Mining

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Toronto, Ontario–(Newsfile Corp. – March 31, 2023) – Broadway Strategic Metals Inc. (the “Company” or “BSM“) and Rossiter Mining Corp. (“Rossiter“) are pleased to announce the signing of a binding Letter of Intent (“LOI“) for a merger of the two companies. The proposed transaction will be structured in a manner most efficient and effective to result in Rossiter, directly or indirectly, acquiring all outstanding securities of BSM. The final structure for the transaction will be subject to satisfactory tax, corporate and securities law advice for both the BSM and Rossiter. The transaction is subject to completion of due diligence as well as any and all required shareholder, exchange, and regulatory approvals.

The resulting entity, to be known as Broadway Strategic Metals (“Broadway“), plans to apply to list its shares on the Canadian Securities Exchange (“CSE”). Broadway’s main asset is its well mineralized district-scale mining concessions in the Republic of Panama, located immediately adjacent to First Quantum’s Cobre Panama Copper-Gold Mine property. Mineralization in the district and elsewhere in Panama varies from extensive bodies of copper with minor gold silver and molybdenum mineralization in porphyry style copper dominated bodies, to extensive epithermal to hydrothermal vein systems and sulphide replacement mineralized bodies. The Company’s concessions include both mineralized environments within its 100% interest in Contract No. 8 representing 9,984 hectares that hosts the past producing Molejón Gold Project mine, and the Santa Lucia Copper Gold Project both located in the Donoso District of Colon Province.

The Molejón Gold Silver Project includes a former mining operation with a historic resource of over 800,000 ounces of gold and 1,400,000 ounces of silver that Broadway plans to evaluate and if feasible, bring back into production, given the current higher commodity prices that may drive improved economics (Source – Behre Dolbear, (2012), Molejón Project NI 43-101 Technical Report, Donoso District, Colon Province, Republic of Panamá). This resource is not NI 43-101 compliant, is historic in nature and should not be relied upon.

The Santa Lucia Copper Gold Silver Project covers 8,800 hectares and historic field sampling by Adrian Resources in 1998 returned anomalous values of gold, silver, and copper.

In addition to the Molejón and Santa Lucia projects, BSM has signed a letter of intent with the Republic of Panama, including the concessions known as Palmilla Copper Gold Project (“Palmilla“). Palmilla has a historic NI-43-101 resource with 27,020,000 tonnes of Measured and Indicated Resources, containing 143,900,000 pounds of copper (“Cu“) and 509,400 ounces of gold (“Au“); and 11,060,000 tonnes of Inferred Resources containing 54,600,000 pounds of Cu and 144,000 ounces of Au (Source – NI 43-101 Palmilla Deposit Resource Update Rio Belencillo Zone 1 Concession Colon Province, Panama Oct 29, 2013. Prepared by SGS Canada Inc. Pages 3, 77. This resource is not NI 43-101 compliant, is historic in nature, and should not be relied upon). The concessions covering the Palmilla deposit are not currently held by the Company, however under specific conditions and deliverables, these additional concessions are available for Broadway to purchase.

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The terms of the LOI require Rossiter shareholders to approve a change of name, a share consolidation of one new share for three existing shares, and for Rossiter to have a positive working capital position. BSM is required to provide audited financial statements, prospectus-level disclosure, and a listing statement.

Concurrent with the LOI, BSM is the process of completing a US$10 million convertible debenture financing (the “Convertible“). Under the terms of the Convertible, BSM will pay a 15% coupon over a 36-month term, or the investor can convert into BSM post listing shares at a 30% discount to share price at the time of conversion. There is an 8% finder’s fee payable on the Convertible. BSM has already received over US$5 million in commitments for the Convertible.

In addition to the Convertible, BSM is in discussions with institutional grade investors to provide US$200 to US$300 million in project financing should BSM decide to proceed with re-starting the Molejón Mine; to fund drilling to expand the deposit; or, to carry out regional exploration to identify new discoveries – all three of which would add significantly to shareholder value.

Broadway anticipates approximately 36 million proforma common shares issued and outstanding with a total of 5.4 million outstanding common share purchase warrants, which would provide an additional $11.3 million, if fully exercised.

The Board of Directors of Broadway is projected to include Duane Parnham, Manuel Nuñez, Carlos Lucas Pulido, James Macintosh, and Stephen Coates. The management team will consist of Mr. Parnham, Executive Chairman and CEO, and Carlos Lucas Pulido, Country Manager.

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Both Mr. Parnham and Rodrigo Diaz will be deemed Insiders by virtue of ownership positions in Broadway. Insiders, including management, will own roughly 40% of Broadway and expects Insiders and management to agree to voluntary escrow terms.

Mr. Parnham has a record of success in corporate development, regulatory compliance with publicly listed companies, geological and environmental consulting and corporate finance services to the hydrocarbon and mining industries. Mr. Nuñez is a practising attorney and Professor of Banking Law, Universal Trials, and Agricultural and Mining Law at the Latin American University of Science and Technology. Mr. Pulido has a great amount of experience advising private companies in the execution of contracts with the government of Panama. Mr. Macintosh has over 37 years of experience in the mining industry, as a mining analyst and various executive / directorial positions with both public and private companies. Earlier in his career, Mr. Macintosh was VP, Corporate Development for a company with several Central American gold projects. Mr. Coates has extensive international experience in the small-cap and natural resources sectors and has advised numerous companies in financial structuring, business development, communications, and market finance.

Broadway will be represented by Corporate Counsel Professional Corporation, a North American corporate and securities law firm, that has significant experience taking companies public.

Qualified Person

Bruce Durham, P.Geo., is a Qualified Person (“QP”), as that term is defined by Canadian regulatory guidelines under NI 43-101 and has read and approved the technical information contained in this press release. Readers are reminded that results and other technical information related to the Molejón, Santa Lucia and Palmilla Projects in this release are historic in nature and should not be relied upon as the QP is unable to verify the information contained in the historic report referenced given the work was completed by a prior operator.

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About Broadway Strategic Metals

Broadway Strategic Metals is a privately-owned mining company managed by industry veterans with over 30 years of experience advising governments of over 15 countries on resource exploration & development, risk management, sustainability, technology, job creation, financing, mining, and education. Broadway’s consortium of international mining executives, legal experts, community partners, and finance specialists bring insight and a holistic understanding of the socio-economic legacy issues effecting mine development.

For more information, contact:

Rossiter Mining Corp.: (+1) 647-493-9910
Iryna Zheliasko, Investor Relations, at [email protected]

or

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Broadway Strategic Metals: (+1) 416-574-1007
Jason Bagg, Manager Public Relations, at [email protected]

On Behalf of their Boards of Directors,

Stephen Coates, President
Rossiter Mining Corp.

Duane Parnham, Executive Chairman and CEO
Broadway Strategic Metals

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the companies. Forward-looking information is based on certain key expectations and assumptions made by the management of the companies. Although the companies believe that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the companies can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The companies disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160891

Fintech

How to identify authenticity in crypto influencer channels

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Modern brands stake on influencer marketing, with 76% of users making a purchase after seeing a product on social media.The cryptocurrency industry is no exception to this trend. However, promoting crypto products through influencer marketing can be particularly challenging. Crypto influencers pose a significant risk to a brand’s reputation and ROI due to rampant scams. Approximately 80% of channels provide fake statistics, including followers counts and engagement metrics. Additionally, this niche is characterized by high CPMs, which can increase the risk of financial loss for brands.

In this article Nadia Bubennnikova, Head of agency Famesters, will explore the most important things to look for in crypto channels to find the perfect match for influencer marketing collaborations.

 

  1. Comments 

There are several levels related to this point.

 

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LEVEL 1

Analyze approximately 10 of the channel’s latest videos, looking through the comments to ensure they are not purchased from dubious sources. For example, such comments as “Yes sir, great video!”; “Thanks!”; “Love you man!”; “Quality content”, and others most certainly are bot-generated and should be avoided.

Just to compare: 

LEVEL 2

Don’t rush to conclude that you’ve discovered the perfect crypto channel just because you’ve come across some logical comments that align with the video’s topic. This may seem controversial, but it’s important to dive deeper. When you encounter a channel with logical comments, ensure that they are unique and not duplicated under the description box. Some creators are smarter than just buying comments from the first link that Google shows you when you search “buy YouTube comments”. They generate topics, provide multiple examples, or upload lists of examples, all produced by AI. You can either manually review the comments or use a script to parse all the YouTube comments into an Excel file. Then, add a formula to highlight any duplicates.

LEVEL 3

It is also a must to check the names of the profiles that leave the comments: most of the bot-generated comments are easy to track: they will all have the usernames made of random symbols and numbers, random first and last name combinations, “Habibi”, etc. No profile pictures on all comments is also a red flag.

 

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LEVEL 4

Another important factor to consider when assessing comment authenticity is the posting date. If all the comments were posted on the same day, it’s likely that the traffic was purchased.

 

2. Average views number per video

This is indeed one of the key metrics to consider when selecting an influencer for collaboration, regardless of the product type. What specific factors should we focus on?

First & foremost: the views dynamics on the channel. The most desirable type of YouTube channel in terms of views is one that maintains stable viewership across all of its videos. This stability serves as proof of an active and loyal audience genuinely interested in the creator’s content, unlike channels where views vary significantly from one video to another.

Many unauthentic crypto channels not only buy YouTube comments but also invest in increasing video views to create the impression of stability. So, what exactly should we look at in terms of views? Firstly, calculate the average number of views based on the ten latest videos. Then, compare this figure to the views of the most recent videos posted within the past week. If you notice that these new videos have nearly the same number of views as those posted a month or two ago, it’s a clear red flag. Typically, a YouTube channel experiences lower views on new videos, with the number increasing organically each day as the audience engages with the content. If you see a video posted just three days ago already garnering 30k views, matching the total views of older videos, it’s a sign of fraudulent traffic purchased to create the illusion of view stability.

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3. Influencer’s channel statistics

The primary statistics of interest are region and demographic split, and sometimes the device types of the viewers.

LEVEL 1

When reviewing the shared statistics, the first step is to request a video screencast instead of a simple screenshot. This is because it takes more time to organically edit a video than a screenshot, making it harder to manipulate the statistics. If the creator refuses, step two (if only screenshots are provided) is to download them and check the file’s properties on your computer. Look for details such as whether it was created with Adobe Photoshop or the color profile, typically Adobe RGB, to determine if the screenshot has been edited.

LEVEL 2

After confirming the authenticity of the stats screenshot, it’s crucial to analyze the data. For instance, if you’re examining a channel conducted in Spanish with all videos filmed in the same language, it would raise concerns to find a significant audience from countries like India or Turkey. This discrepancy, where the audience doesn’t align with regions known for speaking the language, is a red flag.

If we’re considering an English-language crypto channel, it typically suggests an international audience, as English’s global use for quality educational content on niche topics like crypto. However, certain considerations apply. For instance, if an English-speaking channel shows a significant percentage of Polish viewers (15% to 30%) without any mention of the Polish language, it could indicate fake followers and views. However, if the channel’s creator is Polish, occasionally posts videos in Polish alongside English, and receives Polish comments, it’s important not to rush to conclusions.

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Example of statistics

 

Wrapping up

These are the main factors to consider when selecting an influencer to promote your crypto product. Once you’ve launched the campaign, there are also some markers to show which creators did bring the authentic traffic and which used some tools to create the illusion of an active and engaged audience. While this may seem obvious, it’s still worth mentioning. After the video is posted, allow 5-7 days for it to accumulate a basic number of views, then check performance metrics such as views, clicks, click-through rate (CTR), signups, and conversion rate (CR) from clicks to signups.

If you overlooked some red flags when selecting crypto channels for your launch, you might find the following outcomes: channels with high views numbers and high CTRs, demonstrating the real interest of the audience, yet with remarkably low conversion rates. In the worst-case scenario, you might witness thousands of clicks resulting in zero to just a few signups. While this might suggest technical issues in other industries, in crypto campaigns it indicates that the creator engaged in the campaign not only bought fake views and comments but also link clicks. And this happens more often than you may realize.

Summing up, choosing the right crypto creator to promote your product is indeed a tricky job that requires a lot of resources to be put into the search process. 

Author Nadia Bubennikova, Head of agency  at Famesters

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Nadia Bubennikova, Head of agency at Famesters

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Fintech

Central banks and the FinTech sector unite to change global payments space

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The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.

Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.

Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).

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At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.

The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.

As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.

Source: fintech.globa

The post Central banks and the FinTech sector unite to change global payments space appeared first on HIPTHER Alerts.

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Fintech

TD Bank inks multi-year strategic partnership with Google Cloud

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TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.

The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.

This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.

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TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.

Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.

TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.

Source: fintechfutures.com

The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.

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