/This news release is intended for distribution only in Canada and is not intended for distribution to US newswire services, or for release, publication, or distribution in whole or in part, in or in the United States or in the United States./
TORONTO and MELBOURNE, April 20, 2021 /CNW/ – BANXA (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) (“BANXA” or the “Company”) Banxa announced today that Domenic Carosa Chairman, will be participating in the following upcoming virtual conferences and panels:
Stifel GMP Canada CSI Conference
Wednesday April 21, 2021 – Panel discussion at 10:30am EDT (7:30am PDT)
Panel: Blockchain: Infrastructure, Ecosystem, and Applications
Participants: Founder/Chairman Banxa Holdings Inc, Jaime Leverton, CEO, Hut 8 Mining Corp and Stephen Ehrlich, CEO & Co-Founder, Voyager Digital Ltd.
Conference details: https://bit.ly/3gqGhIS
Thursday April 22, 2021 – Investor Presentation at 8:00am EDT (5:00am PDT)
The Planet MicroCap Showcase Virtual Event brings together promising companies and investors for a three day event. Register on the event website to listen to the keynote address or attend the investor presentation: https://planetmicrocapshowcase.com/
HC Wainwright Cryptocurrency, Blockchain & Fintech Conference
Tuesday April 27th, 2021 at 7:00am EDT (4:00am PDT)
Domenic will be providing a virtual investor update presentation.
Conference is only available to HC Wainwright clients
Domenic Carosa, Chairman of Banxa comments, “The explosive growth has fuelled interest in digital assets, a greater number of new entrants are seeking to participate. Our aim at Banxa is to provide the infrastructure for these new enthusiasts to enter safely. There’s a lot of opportunity for Banxa to engage with this community so we have decided to participate in a number of virtual conferences and host a series of virtual summits to discuss the market, the sector and the company.”
The company is also issuing a correction to its previously disseminated press release dated April 8, 2021 (the “Closing Press Release”). The Closing Press Release announced the completion of a previously announced brokered private placement (the “Offering”) of units of the Company (“Units”) for aggregate gross proceeds of $14,998,208. The Offering was completed through a syndicate of agents including Stifel GMP (“Stifel”) and Eight Capital Corp. (“ECC”), as co-lead agents and PI Financial Corp. (together with Stifel and ECC, the “Agents”) on a best efforts basis.
The Closing Press Release incorrectly omitted certain considerations received by Gleneagle Securities (Aust) Pty Ltd. (“Gleneagle”) and H.C. Wainwright & Co., LLC (“HC Wainwright”). As consideration for Gleneagle’s services in connection with Units issued under a president’s list agreed upon by the Company and the Agents (the “President’s List”), Gleneagle received a cash commission of $337,444.20 equal to 4.5% of the gross proceeds from the President’s List. The Company also issued to Gleneagle 121,854 common share purchase warrants of the Company (the “Finder Warrants”) equal to 6.5% of the number of Units sold under the President’s List. Each Finder Warrant is exercisable into one common share of the Company at a price of $8.50 for a period of 42 months following the closing date of the Offering, subject to adjustment in certain events. HC Wainwright also received a tail fee (the “Tail Fee”) consisting of a cash commission of $80,000 and 20,000 Finder Warrants. The Tail Fee was paid to HC Wainwright pursuant to a previously terminated engagement agreement between the Company and HC Wainwright.
The consideration received by Gleneagle and HC Wainwright is in addition to the consideration received by Agents as described in the Closing Press Release. The terms of the Offering and the original compensation received by the Agents remain the same as disclosed in the Closing Press Release.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “DOMENIC CAROSA”
“BANXA – Banxa Holdings Inc. (TSX-V:BNXA/OTCQX:BNXAF/FSE:AC00) is a Payment Service Provider (PSP) with a mission to build the bridge between traditional financial systems, regulation and the digital asset space. Our goal is to onboard the general public to digital currency by building a fully compliant payment infrastructure that enables simple and secure conversion of fiat currency to digital currency (eg. USD/CAD to BTC/ETH). Banxa has offices in Australia and the Netherlands. For further information go to www.banxa.com”
This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. BANXA’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of BANXA’s control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company’s business, including: BANXA’s assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results. Except as required by securities law, BANXA does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Further Information, see www.banxa.com