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Parties plan $25 million concurrent private placement and application to list on stock exchange
BlocPal International Inc. (“BlocPal”), a digital transaction company that integrates blockchain and payment processing solutions to make financial services more affordable and accessible, and 1290448 B.C. Ltd. (the “Company”) are pleased to announce they have entered into a binding letter agreement (the “Letter Agreement”) to complete a business combination by way of a transaction that will constitute a reverse takeover of the Company by BlocPal (the “Transaction”). It is the intention of the parties that the resulting issuer from the Transaction (the “Resulting Issuer”) will carry on the current business of BlocPal.
“Today marks a significant step for BlocPal’s evolution as we continue to expand and bring advanced fintech solutions to communities all over the world”
“Today marks a significant step for BlocPal’s evolution as we continue to expand and bring advanced fintech solutions to communities all over the world,” said Nick Mellios, CEO of BlocPal. “We remain committed to delivering strong shareholder value as we work towards a public listing and continue on our path to drive financial inclusion globally.”
BlocPal provides digital payment services to enterprise partners to help reduce transaction costs, create new revenue streams, and build loyal relationships with their customers. BlocPal has been a champion for new fintech solutions for companies like mBnk, who are leveraging an integrated retail network to provide a wide array of financial services to millions of underserved people in India. Through these initiatives and many others, BlocPal is committed to bringing fintech innovation to global markets and serving enterprise partners, merchants and consumers all over the world. The Transaction brings BlocPal one step closer to its mission of making financial products and services accessible and affordable to all.
“We’re very excited to be part of the growth and impact BlocPal is making with its innovative financial inclusivity solutions.” said Michael Lerner, CEO & Director. “It’s a great opportunity to create change, grow and empower communities around the world.”
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