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JKS Resources CLOSES $15 Million FINANCING on YUKON METALS PROPERTIES
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VANCOUVER, BC, May 6, 2024 /PRNewswire/ — JKS Resources Inc. (CSE: JKS) is pleased to announce the closing of two concurrent private placements.
JKS completed a non-brokered private placement of 24,032,417 subscription receipts at a price of $0.30 per share for gross proceeds of $7,209,725.10 and 17,754,738 subscription receipts at a price of $0.45 per Unit, with a three year half warrant at $0.60, for gross proceeds of $7,989,632.10, for aggregate gross proceeds of $15,199,357.20.
Finder’s fees in the amount of $206,028.36 will be paid by the Company in connection with the Private Placement to certain arm’s length parties.
For further details regarding the Transaction, see the Company’s news release dated January 15, 2024.
“We would like to thank our investors for their overwhelming support of our acquisition and exploration program” said Rory Quinn, Yukon Metals’ incoming Chief Executive Officer. “The demand for this private placement is indicative of the quality of the assets we were able to acquire and the quality of the Board of Directors we were able to assemble. We are proud of our high-quality investor base and that over $15 million has been raised with less than 2% payable in broker fees. We look forward to updating our investors on significant news as we move forward.”
About the Yukon Metals Transaction and the Yukon Metals Properties
Upon completion of the Transaciton, the Company will be renamed Yukon Metals Corp., and a new Board or Directors will be constituted. The Company will own the AZ, Barite Mountain, Birch, Carter Gulch, Clea, Eva, Expo, Faro North, Fox, Gem, Ketza, Nut, Pete, Risby and Talbot claims, and the Venus claims and crown grants located in Yukon for a total land package of approximately 18,000 hectares. The Yukon Metals Properties are a suite of base and precious metals focused projects in the Yukon ranging from promising new discoveries to drill ready targets.
About Yukon Metals Corp.
Yukon Metals represents a property portfolio built on over 30 years of prospecting by the Berdahl family, the prospecting team behind Snowline Gold’s (SGD) portfolio of assets. The Yukon Metals portfolio consists primarily of copper-gold and silver-lead-zinc assets, with a substantial gold and silver component. The Company is led by an experienced Board of Directors across technical, exploration and finance disciplines.
Upon listing, Yukon Metals’ Board of Directors will consist of the following:
Rory Quinn, CEO and Director
Mr. Quinn has over 20 years of capital markets experience in the global mining space and was the former CEO of E79 Resources Corp. Most recently he served as CEO of Green Earth Metals, a private company. Prior to his CEO roles he was Director, Investor Relations at Wheaton Precious Metals, previously Silver Wheaton. During his tenure at Wheaton, Mr. Quinn worked on acquisitions totalling over US$6 billion as the company built its precious metal business. Mr. Quinn has been involved in the review of hundreds of mining companies and mining assets from majors to earlier stage developers and explorers in assessing high-quality investment opportunities around the globe. Prior to joining Wheaton, Mr. Quinn worked in Toronto at Castle Gold, which was sold along with its flagship, El Castillo Gold mine, to Argonaut Gold. Before switching his focus to the resource capital markets, Mr. Quinn started his career with the consumer products giant, Gillette Company, now Proctor and Gamble.
Patrick Burke, Chair
Mr. Burke is currently a Special Advisor for Capital Markets, Canaccord Genuity Corp. (Canada). He joined Canaccord in October 2015, serving as Head of Canada Capital Markets, bringing more than 25 years of experience and extensive institutional relationships to his role. Prior to joining Canaccord, Pat served as Global Head of Equity and Co-Head of Global Investment Banking for Scotiabank. In that role, he was responsible for oversight of equity sales, trading, research, prime brokerage, equity capital markets, equity derivatives and investment banking. Before that he was Managing Director and Head of Canadian Equities for Merrill Lynch, having held various roles of increasing responsibility since 2000. From 1990 to 2000, Mr. Burke worked in institutional equity and fixed income for Bank of Montreal.
Dr. Darryl Clark, Director
Dr. Clark has decades of global exploration and operating experience in the mining industry. Through his career, Dr. Clark has held a wide range of executive roles across a number of metal and mineral sectors, with both junior and major mining companies. His experience consists of periods working in gold, copper, uranium, coal, and oil sands. Dr. Clark’s precious metal experience started at Great Central Mines during the period of rapid resource discovery in the 90s that transformed the West Australian Goldfields. Additional greenfield and project experience was gained at Sunrise Dam Gold Mine, Ivanhoe Mines Mongolia, Vale and SRK consulting where he was involved in several greenfield discoveries. Dr. Clark has over 10 years of experience as a Non-Executive Director on ASX & TSX listed companies. Dr. Clark holds a PhD in Economic Geology from the University of Tasmania and is currently the Executive Vice President Exploration and Development for IsoEnergy Ltd and the Non Executive Chairman for Waratah Minerals Ltd.
Jim Coates, Director
Mr. Coates has spent over two decades conducting mineral and scientific exploration across Canada and the world. Mr. Coates has completed MSc and PhD-level research in geography specialized in permafrost, with years spent in the field operating a drilling and geophysics company, as well as Yukon Geological Survey and independent exploration work in the Klondike Goldfields, which provided comprehensive exposure to many aspects of the mineral industry. A fascination with innovative design allowed Mr. Coates to optimize low-impact exploration methods both for clients and use on his personal mineral properties. Mr. Coates’ experience growing up in small northern community continues to inform how the social license of resource projects affects their success.
Daniel Vickerman, Director
Mr. Vickerman is a seasoned institutional sales and corporate finance professional with 25 years of experience in the financial industry, currently acting as Senior Vice President of Corporate Development, Board member of Blackrock Silver, and Board member of Discovery Silver. He joined the Board of Discovery in 2019 through the merger with Levon Resources. where he was Board Chairman. Formerly Mr. Vickerman was Managing Director, Head of UK Edgecrest Capital. Before joining Edgecrest Capital UK, Mr. Vickerman was Managing Director, Co-Head of Canadian Equity Sales UK at Canaccord Genuity Corp. Mr Vickerman has extensive experience working with mineral exploration and development companies, raising equity for public and private companies during their exploration and development. Mr. Vickerman spent over 4 years as a London based alternative asset manager (part of Man Group plc), trading commodities, and foreign exchange.
For more information about Yukon Metals, please contact:
Rory Quinn, Incoming President & CEO
Yukon Metals Corp.
Email: [email protected]
Each Share Subscription Receipt will be automatically exercised into one common share of the Company (each, a “Common Share”) upon completion of the previously announced transaction pursuant to which the Company will acquire all of the issued and outstanding shares of Lapie Mining Inc., which holds certain mineral claims in the Yukon (the “Transaction”). Each Unit Subscription Receipt will be automatically exercised into one unit of the Company (each, a “Unit”) upon completion of the Transaction, whereby each Unit will consist of one Common Share and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each Warrant entitling the holder thereof to purchase one additional Common Share (each, a “Warrant Share”) at a price of $0.60 until May 3, 2027.
The proceeds from the sale of the Subscription Receipts will be held in escrow pending completion of the Transaction. Following the Transaction, the funds are expected to be used for exploration and related expenditures on the Yukon properties acquired pursuant to the Transaction and working capital purposes.
The Subscription Receipts, including the Common Shares and the Warrants issuable upon automatic exercise of the Subscription Receipts, are and will be subject to a statutory hold period of four months and one day under Canadian securities laws.
Certain insiders acquired an aggregate of 50,000 Share Subscription Receipts and 22,222 Unit Subscription Receipts, and as such the Private Placement is considered a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”).
JKS has relied on exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the insiders’ participation in the Private Placement, as such participation does not exceed 25% of the Company’s market capitalization.
The Company will file a material change report in respect of the Private Placement. However, the Company did not file a material change report 21 days prior to closing of the Private Placement as the participation of insiders of the Company in the Private Placement had not been confirmed at that time.
Further Information
Investors are cautioned that any information released or received with respect to the Transaction, including in this news release, may not be complete and should not be relied upon.
Completion of the Transaction is subject to a number of conditions, including but not limited to, the Canadian Securities Exchange (the “CSE“) and shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
The CSE has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.
Trading in the Common Shares will remain halted pending the review of the proposed Transaction by the CSE.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities to be issued in connection with the Transaction, the Subscription Receipts, the Common Shares, the Warrants and the Warrant Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company’s completion of the Transaction and resultant automatic exercise of the Subscription Receipts, the use of the proceeds from the Private Placement, the payment of finder’s fees and the Company filing a material change report, as well as its future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks and uncertainties relating to the Company’s ability to complete the proposed Transaction; and other risks and uncertainties. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Gunther Roehlig
JKS Resources
Chief Executive Officer, President and Director
T: (604) 617-5421
Email: [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/jks-resources-closes-15-million-financing-on-yukon-metals-properties-302136668.html
The regulation of instant payments is becoming increasingly important as both banks and corporate treasurers seek to leverage faster, more efficient payment solutions. This article provides an overview of instant payments regulation, highlighting the key considerations and implications for banks and corporate treasurers.
What Are Instant Payments?
Instant payments refer to electronic payments that are processed in real-time or near real-time, enabling the transfer of funds between accounts within seconds. These payments can be initiated and completed at any time, providing convenience and efficiency for both individuals and businesses.
Key Characteristics:
- Speed: Funds are transferred almost instantly, reducing the time taken for payment settlement.
- Availability: Instant payments can be made 24/7, including weekends and holidays.
- Irrevocability: Once initiated, instant payments cannot be reversed, ensuring finality of the transaction.
Regulatory Landscape
The regulation of instant payments varies across different jurisdictions, with a focus on ensuring security, efficiency, and interoperability of payment systems.
Key Regulations:
- EU Regulation on Instant Payments: The EU has implemented specific regulations to promote the adoption of instant payments, ensuring that payment service providers offer these services to customers.
- PSD2: The Second Payment Services Directive (PSD2) in the EU includes provisions that support the development and regulation of instant payments.
- Local Regulations: Various countries have their own regulations and guidelines to govern instant payments, focusing on aspects such as fraud prevention, consumer protection, and technical standards.
Implications for Banks
Banks play a critical role in the provision of instant payments and must navigate the regulatory landscape to ensure compliance and provide seamless services to customers.
Key Considerations for Banks:
- Compliance: Banks must comply with relevant regulations and guidelines to offer instant payment services. This includes adhering to technical standards and implementing robust security measures.
- Infrastructure: Investing in the necessary infrastructure to support real-time payment processing and ensure system reliability and availability.
- Customer Education: Educating customers about the benefits and features of instant payments, as well as any potential risks associated with their use.
Implications for Corporate Treasurers
Corporate treasurers can benefit significantly from the adoption of instant payments, which can enhance cash flow management and improve operational efficiency.
Key Considerations for Corporate Treasurers:
- Cash Flow Management: Instant payments can improve cash flow management by reducing the time taken for payment settlement and providing real-time visibility into account balances.
- Operational Efficiency: Faster payment processing can streamline business operations, reducing administrative burdens and improving supplier relationships.
- Risk Management: Corporate treasurers must be aware of the irrevocability of instant payments and implement appropriate controls to prevent fraudulent transactions.
Benefits of Instant Payments
The adoption of instant payments offers several benefits for both banks and corporate treasurers, driving efficiency and enhancing the customer experience.
Key Benefits:
- Convenience: Instant payments provide a convenient and efficient way to transfer funds, reducing the reliance on traditional payment methods.
- Cost Savings: Faster payment processing can reduce the costs associated with payment settlement and reconciliation.
- Enhanced Customer Experience: Offering instant payment services can enhance the customer experience, providing greater flexibility and speed in financial transactions.
Challenges and Future Trends
While instant payments offer numerous benefits, there are also challenges that banks and corporate treasurers must address to fully leverage these services.
Key Challenges:
- Security Risks: Ensuring the security of instant payments is critical, particularly given the speed and irrevocability of transactions.
- Interoperability: Achieving interoperability between different payment systems and networks is essential for the widespread adoption of instant payments.
- Regulatory Compliance: Navigating the complex regulatory landscape and ensuring compliance with relevant regulations can be challenging.
Future Trends:
- Increased Adoption: The adoption of instant payments is expected to continue growing, driven by regulatory support and customer demand.
- Technological Advancements: Advances in technology, such as blockchain and artificial intelligence, are likely to further enhance the capabilities and security of instant payments.
- Global Standardization: Efforts to develop global standards for instant payments will promote interoperability and facilitate cross-border transactions.
Conclusion
The regulation of instant payments is crucial for ensuring the security, efficiency, and interoperability of payment systems. Banks and corporate treasurers must navigate the regulatory landscape and invest in the necessary infrastructure to provide seamless and secure instant payment services. As the adoption of instant payments continues to grow, it offers significant benefits for enhancing cash flow management, operational efficiency, and the overall customer experience.
Source of the news: The Paypers
The post Instant Payments Regulation: Overview for Banks and Corporate Treasurers appeared first on HIPTHER Alerts.
Regulators have issued a joint warning highlighting the risks associated with partnerships between banks and fintech companies. This warning underscores the need for careful management of these relationships to ensure regulatory compliance and mitigate potential risks.
Overview of the Joint Warning
The joint warning, issued by a coalition of financial regulators, emphasizes the importance of robust risk management practices when banks partner with fintech companies. These partnerships, while beneficial in driving innovation and enhancing customer services, also introduce new risks that must be addressed.
Key Points of the Warning:
- Regulatory Compliance: Banks must ensure that fintech partners comply with all relevant regulations and standards.
- Risk Management: Robust risk management frameworks must be in place to identify, assess, and mitigate risks associated with fintech partnerships.
- Data Security: Ensuring the security and privacy of customer data is paramount, particularly given the increasing prevalence of cyber threats.
- Operational Resilience: Banks must ensure that fintech partnerships do not compromise their operational resilience and ability to deliver critical services.
Benefits of Bank-Fintech Partnerships
Despite the risks, partnerships between banks and fintech companies offer significant benefits, driving innovation and enhancing the customer experience.
Key Benefits:
- Innovation: Fintech companies bring innovative technologies and solutions that can enhance banking services and products.
- Customer Experience: Partnerships with fintechs can improve the customer experience by offering faster, more efficient, and personalized services.
- Cost Efficiency: Fintech solutions can help banks reduce costs and improve operational efficiency through automation and digitalization.
Risks Associated with Bank-Fintech Partnerships
The joint warning highlights several risks associated with bank-fintech partnerships that must be carefully managed.
Key Risks:
- Regulatory Risk: Ensuring compliance with complex and evolving regulatory requirements is a significant challenge.
- Cybersecurity Risk: Fintech partnerships can introduce cybersecurity vulnerabilities, making it essential to implement robust security measures.
- Operational Risk: The integration of fintech solutions into banking operations can pose operational risks, particularly if not managed effectively.
- Reputational Risk: Any issues or failures in fintech partnerships can damage the bank’s reputation and customer trust.
Strategies for Managing Risks
To mitigate the risks associated with fintech partnerships, banks must adopt comprehensive risk management strategies and ensure rigorous oversight.
Key Strategies:
- Due Diligence: Conducting thorough due diligence on fintech partners to assess their regulatory compliance, security practices, and financial stability.
- Contractual Safeguards: Including robust contractual safeguards in partnership agreements to outline responsibilities, expectations, and compliance requirements.
- Continuous Monitoring: Implementing continuous monitoring and assessment of fintech partnerships to identify and address emerging risks.
- Collaboration with Regulators:: Engaging with regulators to ensure that partnerships comply with regulatory requirements and to stay informed of any changes in the regulatory landscape.
The Role of Technology
Technology plays a crucial role in managing the risks associated with bank-fintech partnerships, offering tools and solutions that enhance oversight and compliance.
Key Technologies:
- RegTech Solutions: Regulatory technology (RegTech) solutions can automate compliance processes, ensuring that fintech partnerships adhere to regulatory requirements.
- Cybersecurity Tools: Advanced cybersecurity tools and solutions can enhance the security of fintech partnerships, protecting against cyber threats.
- Risk Management Platforms: Integrated risk management platforms can provide real-time visibility into partnership risks and support proactive risk mitigation.
Conclusion
The joint warning issued by regulators highlights the need for careful management of bank-fintech partnerships to ensure regulatory compliance and mitigate potential risks. While these partnerships offer significant benefits, including innovation and enhanced customer experience, they also introduce new risks that must be addressed through robust risk management strategies. By leveraging technology and engaging with regulators, banks can effectively manage these risks and capitalize on the opportunities presented by fintech partnerships.
Source of the news: American Banker
The post Regulators Issue Joint Warning on Bank-Fintech Risks appeared first on HIPTHER Alerts.
Nasdaq Inc. has reported earnings that exceeded analysts’ expectations, driven by a surge in fintech sales. This strong performance underscores the growing importance of fintech solutions in driving financial market innovation and growth.
Overview of Nasdaq’s Financial Performance
Nasdaq’s latest earnings report reveals impressive financial performance, with profits surpassing estimates due to robust growth in its fintech segment.
Key Financial Highlights:
- Revenue Growth: Nasdaq reported a significant increase in revenue, primarily driven by its fintech sales.
- Earnings Beat: The company’s earnings per share (EPS) exceeded analysts’ expectations, highlighting its strong financial performance.
- Fintech Segment: The fintech segment emerged as a key growth driver, contributing significantly to the overall revenue increase.
The Role of Fintech in Nasdaq’s Growth
Nasdaq’s fintech solutions have played a pivotal role in its recent financial success, offering innovative technologies that enhance market operations and customer services.
Key Fintech Solutions:
- Market Technology: Nasdaq’s market technology solutions provide advanced trading, clearing, and market surveillance capabilities to financial institutions and exchanges.
- Data and Analytics: The company’s data and analytics solutions offer valuable insights and support informed decision-making for market participants.
- Corporate Solutions: Nasdaq’s corporate solutions include governance, risk management, and compliance tools that help companies navigate complex regulatory environments.
Factors Driving Fintech Sales Growth
Several factors have contributed to the surge in Nasdaq’s fintech sales, reflecting broader trends in the financial technology sector.
Key Drivers:
- Digital Transformation: The ongoing digital transformation in the financial industry has increased demand for advanced fintech solutions.
- Regulatory Compliance: Growing regulatory requirements have driven demand for compliance and risk management solutions.
- Market Volatility: Increased market volatility has highlighted the need for robust trading and market surveillance technologies.
Strategic Initiatives
Nasdaq has undertaken several strategic initiatives to capitalize on the growing demand for fintech solutions and drive long-term growth.
Strategic Focus Areas:
- Innovation: Continuously investing in innovation to develop cutting-edge fintech solutions that address the evolving needs of the financial industry.
- Partnerships: Forming strategic partnerships with other technology providers and financial institutions to enhance its product offerings and expand market reach.
- Global Expansion: Expanding its presence in key markets around the world to capture new growth opportunities and serve a broader client base.
Future Prospects
Nasdaq’s strong financial performance and strategic initiatives position the company for continued growth in the fintech sector. The company plans to leverage its technological capabilities and market expertise to drive further innovation and expand its fintech offerings.
Growth Opportunities:
- Product Development: Developing new fintech products and features to meet emerging market needs and regulatory requirements.
- Mergers and Acquisitions: Exploring potential mergers and acquisitions to enhance its technology portfolio and market position.
- Customer Engagement: Enhancing customer engagement through personalized solutions and services that address specific client needs.
Conclusion
Nasdaq’s impressive financial performance, driven by a surge in fintech sales, underscores the growing importance of fintech solutions in the financial market. The company’s strategic focus on innovation, partnerships, and global expansion positions it for continued growth and success. As Nasdaq continues to leverage its fintech capabilities, it is well-positioned to drive financial market innovation and deliver value to its clients and shareholders.
Source of the news: Reuters
The post Nasdaq Profit Beats Estimates as Fintech Sales Soar appeared first on HIPTHER Alerts.
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