Toronto, Ontario--(Newsfile Corp. - November 30, 2021) - CoinSmart Financial Inc. (NEO: SMRT) (FSE: IIR) ("CoinSmart"), a leading Canadian headquartered crypto asset trading platform, today announced record preliminary unaudited monthly revenue in October 2021 of approximately $1.8 million[1]. This represents a 24% increase compared to September 2021 and was primarily driven by increased trading volume.
CoinSmart CEO Justin Hartzman commented:
"October was a tremendous month for CoinSmart as we achieved record revenue, assets under management and company cash and crypto assets on our balance sheet. This bodes well for Q4 as our team continues to work feverishly to make crypto currency accessible to all."
From time to time the company may report on any new records it achieves on key performance metrics[3].
CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may","could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: regulatory approvals. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
This press release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for the revenue of CoinSmart during October 2021 and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading "Cautionary Note Regarding Forward-Looking Information and Other Disclosures" above and assumptions with respect to market conditions, pricing, and demand. The actual results of CoinSmart's operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. CoinSmart and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading "Cautionary Note Regarding Forward-Looking Information and Other Disclosures" above, it should not be relied on as necessarily indicative of future results. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under 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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact:
Justin Hartzman Chief Executive Officer E-mail:justin@coinsmart.com Tel.: (647) 923-7678
[1] All figures stated above are preliminary, unaudited and subject to final adjustment.
[2] Based on 60,364,549 shares outstanding as of November 29th,2021
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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The cryptocurrency market is expected to grow at a compound annual growth rate of 30 percent from 2019 to 2026 and reach a market capitalization of US$5.2 billion by 2026. Because of the growth opportunities available, the overall crypto global population has more than doubled from 100 million in January 2021 to >200 million in May 2021, as per reports. To further fuel this growth, users will need platforms that they can trust without a shadow of a doubt. According to KPMG, one of the key factors that will be critical in the growth of the crypto economy are "trust agents" like regulators, auditors, academic institutions, consortiums, and trading platforms.
CoinSmart Financial is a leading Canadian-headquartered cryptocurrency asset trading platform dedicated to providing customers with an intuitive trading platform for buying and selling digital assets, like Bitcoin and Ethereum, combined with the seamless ability to on-ramp and off-ramp fiat. Clients' security and protection is the Company's primary focus.
The Company is registered as a money services business with financial regulators in Canada (through FINTRAC) and in the United States (through FinCEN). In addition the Company is registered with the Ontario Securities Commission as a restricted securities dealer in Ontario and all other Canadian jurisdictions.
CoinSmart is registered with the Financial Intelligence Unit of Estonia for providing a virtual currency service and offers crypto asset trading services to select European countries and other markets. The Company further builds on its mission to make cryptocurrency accessible by providing educational resources tailored to every level of cryptocurrency customer and unparalleled 24/7 omni-channel customer success/support. Offering instant verification, industry leading cold wallet storage, advanced ccharting with order book functionality and over-the-counter premium services. The Company ensures every client's needs are met with the highest level of quality and care.
NOTE: All the $ values are in CAD.
CoinSmart obtained its Canadian FINTRAC license in 2018 before it was required. The company has also acquired licenses and approvals for each jurisdiction that it operates in including the US and Estonia. Currently, they are in the process of obtaining licenses and approvals for future geographic expansion in the European Union, Australia, and Latin America.
On October 22, 2021, CoinSmart was granted restricted dealer registration with the Ontario Securities Commission (OSC) and all other Canadian Securities Administrators members. A little over a week later, CoinSmart went public and became listed on the public markets. CoinSmart has taken these steps to further solidify its commitment to strict compliance with regulations to ensure user protection. Being a publicly-traded company, CoinSmart will need to legally disclose the following information (not exhaustive):
The GetSmart hub features resources and learning tools for beginner- to advanced-level users to gain critical cryptocurrency knowledge.
The GetSmart hub includes a frequently asked questions section, comprehensive articles, blog posts, and how-to guides.
Smart Guarantee provides users with 3 guarantees:
Users are required to notify the company by email within three business days of the event that triggers their claim request to benefit from SmartGuarantee.
SmartTrade allows users to bypass tethering and trade the coins they want. In addition, users can directly trade from one coin to another in one click.
CoinSmart's current coin list includes Bitcoin, Ethereum, Bitcoin Cash, Cardano, Stellar Lumens, Litecoin, EOS, USDC, Dogecoin, Polkadot, Shiba Inu, UniSwap, and Chainlink. In addition, CoinSmart is constantly adding digital currencies to its platform
The company also accepts multiple funding methods, including Interac, SEPA, wire transfers, e-transfers, and listed cryptocurrencies.
SmartSupport is the only support service offered by a Canadian cryptocurrency trading platform that is live 24X7 and available in multiple channels. Users can ask questions to CoinSmart's SmartReps by phone, email or a live online chat.
SmartSecurity provides users with multiple features to enhance security and user protection.
Advanced Trade offers tools for experienced investors for tracking trading activity, deposits and withdrawals. Users can use features such as limit orders, stop loss, real-time charting and customized orders with an order book function.
SmartPay is an automated cryptocurrency invoicing platform that allows users to accept cryptocurrency as payment with guaranteed exchange rates and low transaction fees.
Users benefit from instantly converting their Bitcoin to fiat with a same-day payout that is wired directly to their bank account. Plus, CoinSmart's instant conversion allows users to mitigate the risk of chargebacks and price volatility.
The CoinSmart mobile app is now available on both Android and iOS.
Access the crypto markets 24X7 from your pocket with CoinSmart's mobile applications. Buy, sell, and trade all listed crypto assets and access sophisticated trading instruments.
Justin Hartzman is the CEO and co-founder of CoinSmart. Hartzman founded CoinSmart based on making cryptocurrency accessible to all. Hartzman strongly believes in the promising future cryptocurrency has to offer and the importance of it being a part of any well-balanced portfolio of investments. As a seasoned business leader and entrepreneur, Hartzman has led numerous companies from start-up to successful exit. His proven track record of entrepreneurial success includes founding the first website brokerage exclusively serving online businesses, pioneering the industry, and achieving over $100M in transactions to Fortune 1000 companies, PE firms, family offices, and venture funds.
Michael Koral is the co-founder and chief business officer of CoinSmart where he leads marketing and commercial operations. His inclination to help underserved markets led him into the frontiers of cryptocurrency. Through his contributions at CoinSmart, Koral hopes to educate the broader population in understanding the rationale and benefits behind the value that crypto-assets offer and real-world use cases. Prior to joining the team, Koral led customer acquisition and operations at AI-focused social media advertising platform, Needls.
Jeremy Koven has spent the last 12 years running successful internet companies from the ground up. From building custom web solutions to marketing, operations, monetization, and exits. Previously, Koven co-founded and led development at AYCEI where he successfully completed over 550 projects managing a team of 150 developers and designers. Most recently Koven served as the chief platform officer at Needls where he drove the product vision and led the development team.
Steven Kraft is a cryptocurrency and blockchain expert who leads operations at CoinSmart. Previously, Kraft spent over seven years working in traditional finance and has functional expertise in M&A, capital markets, private equity, lending, and equity research. Kraft holds an MBA from Queen's University and completed an Honours Degree in History from the University of Toronto.
Gordon Brocklehurst is a Chartered Professional Accountant with over 30 years of senior financial and operational experience. He is a Member of the Ontario and Canadian Institutes of Chartered Professional Accountants. Has extensive experience in corporate financing, mergers & acquisitions, financial reporting and compliance in both private and public markets including the TSX and NYSE. Previously, Brocklehurst was the Chief Financial Officer & Treasurer of Siamons International Inc., a start-up that was successfully marketed and sold to a large international CPG company. Brocklehurst articled at KPMG after earning an honours degree in economics at York University.
Joe Tosti is the Chief Compliance Officer of SDT where he has overall oversight of enterprise- wide regulatory compliance. He has over 20 years' experience in the securities industry working for some of the largest public institutions in Canada and gained extensive experience in compliance, trading, operations and wealth planning. Prior to joining SDT, Tosti was the Vice President of Compliance at CI Investments and Chief Compliance Officer at CI Private Wealth and CI Direct Investing, one of Canada's largest investment fund companies. In addition to his role at CI, Tosti has also contributed to the success of various industry start-ups.
G. Scott Paterson was a Top 40 Under 40, has been a TedTalk speaker, had a chapter dedicated to him in Peter C Newman's #1 best seller: Titans, was profiled in Time Magazine as 'One of Canada's 21st Century Leaders', was profiled in Newsweek as 'One of 17 People to Watch Globally', was awarded Western University's top Alumni Purple & White Award and has been a keynote speaker on behalf of countless organizations including Mastercard, EY Entrepreneur of the Year and the National Angel Capital Organization.
Paterson has served as a Trustee of the Art Gallery of Ontario, obtained his ICD.d designation as a graduate of the Institute of Corporate Director's at Rotman School of Management and earned a Certificate in Entertainment Law from Osgoode Hall Law School. In the media space, Paterson was the second investor in Lionsgate Entertainment (NYSE:LGF.A) when the company was founded in 1997. He served as a Board member for 21 years including as Chair of the Audit & Risk Committee for 15 years and today serves as a Director of Lions Gate Entertainment Canada Corp.
In the financial services arena, Paterson built Yorkton Securities, initially as Executive VP then as Chair & CEO, into Canada's leading technology & media investment bank. Under his leadership, revenue grew from $15 million in his first year to $244 million five years later. During Paterson's tenure, Yorkton was consistently ranked by Brendan Wood International as the #1 Canadian technology investment bank in respect to number of lead underwritings, quality of research and market share of trading, while raising over $3 billion as lead underwriter and over $9 billion as co-managing underwriter.
Paterson has also served as Chair of the Board of the Toronto Venture Stock Exchange, Vice Chair of the Toronto Stock Exchange, a Governor of the Investment Dealers Association, a Director of the Canadian Investor Protection Fund, a Director of the Canadian Securities Institute and a Director of the Canadian Securities Advisory Council. In 2004, Paterson was recruited to join newly formed Symbility Solutions, a SaaS platform utilized by insurance companies to optimally process property claims, where he served as Board Chair for 14 years. Symbility was listed on the Toronto Venture Exchange when it was sold to Corelogic (NYSE:CLGX) in 2018 for $162 million.
Alexa Abiscott is the General Counsel and Secretary of ApplyBoard Inc. and is responsible for ApplyBoard's global legal operations, privacy and data governance compliance and risk management portfolios and acts as Secretary of the Board of Directors. Abiscott is a founding member of Women General Counsel Canada (WGCC) and the General Counsel Chapter of the Women's Law Association of Ontario. She is currently serving a two-year term as President of WGCC. Prior to her current role at ApplyBoard, Alexa created and led the Office of General Counsel and Board Secretariat at Sheridan College. Prior to her General Counsel roles, Alexa practiced as corporate commercial litigation lawyer at a Bay Street law firm. She lives in Toronto with her husband and four children.
Abiscott holds an Honour's Bachelor Degree from McGill University in Anthropology, a Graduate Diploma in International Business from McGill University, a Bachelor of Laws from Western University, and has been certified in NFP governance by the Institute of Corporate Directors and the University of Toronto's Rotman School of Management
Jeffrey Haas is a leader in the online gaming industry and has been a strategic advisor to CoinSmart since 2019.. He has 20+ years' experience helping build some of the largest gaming businesses in the world, including DraftKings, PokerStars, the World Poker Tour (WPT), Asia Pacific Poker Tour (APPT), European Poker Tour (EPT) & PartyPoker. His work has varied across executive-level contributions to business strategy, product development, operations, licensing and regulatory compliance within this highly regulated industry.
Haas is the SVP of International Strategy for Boston-based DraftKings, where he has worked since 2015. He is a relentless and creative business development innovator, public policy strategist, growth marketer and digital futurist.
Blockchain technology applications are beginning to be better understood as the market continues to grab the attention of investors across the globe.
Amid the progress for blockchain technology is how strongly the world of cryptocurrency investments was rocked by the advancements from fund makers in 2021.
The first half of 2021 showed the growing signs for what was to come in the blockchain arena, as the dialogue surrounding cryptocurrencies continues to mature and alongside a growing appreciation of what the technology implications could mean to everyday people.
Here the Investing News Network (INN) presents some of the biggest developments of the blockchain market throughout 2021.
The year brought along the expansion of cryptocurrency-based exchange-traded funds (ETFs), showing a glimpse at a new era of cryptocurrency investments.
Thanks to the launch of these funds, ETF makers argue, a wider range of investors is now being exposed to the market in a friendlier and more approachable light.
“I think it’s been a year that you could say for certain ... this is now here to stay,” Som Seif, founder and CEO of Purpose Investments, told INN.
Purpose Investments and other ETF providers in Canada have launched a bevy of funds offering exposure into the best known digital coins in the market.
“Purchasing bitcoin through an ETF structure is far superior to a closed-end fund — thus the reason many closed-end fund providers are considering launching a bitcoin ETF,” Raj Lala, CEO and president of Evolve Funds Group, previously told INN.
The cryptocurrency market has proven difficult to master in projections and modeling thanks to the wide spurts of volatility attached to the market. But experts say that is the norm for the industry and shouldn’t discourage early adopters.
Fred Brothers, president and co-founder of Cion Digital, an advisory company engaged in aiding firms to get started with cryptocurrency and blockchain solutions, told INN his business is trying to appease newcomers into the space and he still struggles dealing with the education levels on cryptocurrencies and other blockchain solutions.
“Many of the companies we’re talking to are still fearful of anything containing the words crypto or blockchain,” Brothers said. “Their executives may be investing in digital currencies personally, but they haven’t decided to embrace crypto, or haven’t figured out how to do so.”
Elliot Johnson, chief investment officer and chief operating officer with Evolve ETFs, said he has found the same event described by Brothers across the investment landscape.
“A lot of times you have an institution that hasn’t really started to (invest) yet, because they have very long cycles for analysis and decision making,” Johnson said. “But the analysts you’re talking to, they personally hold some bitcoin, or they personally hold one of our funds and that kind of thing.”
But volatility isn’t only a roadblock to the cryptocurrency market, Johnson told INN. “The volatility of cryptocurrencies is both the biggest challenge, and I think a lot of people see it as the biggest opportunity in investing in them.”
Seif told INN volatility is part of the deal when it comes to cryptocurrencies. However, he explained, it’s still related to the nascent stage of the market and its appreciation.
“It’s still betting on the future,” Seif told INN. Seif said education and due diligence still plays a gigantic role in the way cryptocurrency investments are adopted today. He believes the rise of the ETFs will help aid investors in getting comfortable with the road ahead.
Repeatedly, experts in the space told INN no matter how significant the hype and interest on digital coins is, unless the established financial methods adapt and integrate cryptocurrencies, it would take a significant amount of time for these uses to become mainstream.
Abhishek Sinha, partner at EY and the firm’s open banking and blockchain leader, previously told INN he was surprised at the pace at which blockchain solutions have gained mainstream adoption.
“We’re seeing crypto investments continue to become mainstream offerings from not just new players in the ecosystem, but a lot of traditional banks are starting to offer crypto-based wealth solutions, investment solutions for accredited investors,” Sinha said.
Brothers told INN he is optimistic the chase for mainstream has already delivered on its promise.
“Crypto isn’t moving toward mainstream adoption — it is already mainstream,” Brothers said.
His reasoning goes back to the wide adoption of younger generations for digital coins. This base has made it possible to push vendors and other traditional financial systems to adopt or integrate cryptocurrencies in one way or another.
“In the end, if you sell stuff the consumers get to choose how they want to pay you, and as new tender types achieve critical mass and become mainstream, retailers accept and embrace their customer’s choices, because they sell stuff,” Brothers said.
While adoption has seen great strides in recent years, one expert cautioned on the ongoing struggle of evolution facing regulation roadblocks.
“The digital asset economy tends to innovate faster than regulators can keep up, which can lead to policy-makers playing catch up with the industry and forcing through policy that may not incentivize the right kind of innovation,” Justin Hartzman, CEO and co-founder of CoinSmart Financial (NEO:SMRT,FSE:IIR), told INN.
Alex Lemberg, CEO of Nimbus Platform, said blockchain opportunities come along with potentially big returns and while that reputation continues to follow the market, he sees a “huge group of users looking for stable value generating options over prolonged time periods” expanding in the market.
“Blockchain technology develops at a very rapid rate, presenting more and more projects and products every quarter,” Lemberg said.
The world of blockchain technologies continues to move forward into the mainstream and in this pursuit the industry has shaken the views of consumers and regulators alike who must adapt in the new age.
“The biggest, most widely adopted, most mature and mainstream digital coins are being viewed as ‘digital gold,’ and people that are worried about the almighty dollar are thinking about bitcoin as a viable hedge,” Brothers said.
It’s clear blockchain solutions and cryptocurrencies continue to pave a revolutionary road with increased understanding and interest.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) (FSE: RT5A) ("Graph") or (the "Company") is pleased to announce that its wholly owned subsidiary New World Inc.™ will be dropping an NFT collection with Karl Wolf as he expands his creative blueprint after his song "Omicron Queen" took the web by storm. This NFT collection comes just after the release of his album "2AM Vibes" featuring the hit single "Get Away".
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"After finding out I was positive with Omicron around the holidays, frustrated and not being able to spend time with my family on Christmas. I went to my home studio and recorded Omicron Queen as a parody to Caribbean Queen by Billy Ocean. Just like the Omicron variant went viral in real life (IRL), "Omicron Queen" has gone viral on TikTok and is one of the hottest songs on the short-video platform right now!" said Karl Wolf.
Karl's new NFT drop is a series of 12 unique, limited fun colored Omicron Queens dancing to the parodied song that will be available on OpenSea on the Polygon blockchain. Each NFT variation will have 50 in supply and will come paired with an Omicron Queen track. The studio versions will be priced at .04 ETH (approximately $150 CAD) and come with exclusive access to a live Tik Tok performance and a rapid test kit, while the beach versions will be priced at .065 ETH (approximately $250 CAD) and come with exclusive access to a live Tik Tok performance along with a rapid test kit & t-shirt.
The rest of the exclusive Omicron Queen collection will be available on the New World global marketplace in augmented reality in both gold and platinum. The exclusive 1 of 2 gold editions will be priced at 3 ETH (approximately $11,500 CAD) and will give buyers the opportunity to record a live track with Karl via Zoom. The session will include creative studio time where the buyer will be able to create and record a song with production and vocals by Karl Wolf. The exclusive 1 of 1 platinum edition, priced at 6.5 ETH (approximately $25,000 CAD) will give buyers the opportunity to meet Karl in person with all accommodations paid for including flight and hotel and include a creative studio session where the buyer will be able to create and record a song with production and vocals by Karl Wolf.
As New World continues with the development of their online marketplace and app, they look to add music to their augmented reality NFTs to give users the best experience.
Omicron Queen is dropping on January 12th worldwide.
Listen to the Original Omicron Queen Track: https://youtu.be/T18NpRqy7CQ
OpenSea Collection: https://opensea.io/collection/omicronqueens
New World Marketplace: https://newworldmarketplace.io/
New World is an augmented reality art focused NFT company that allows creators, musicians, and celebrities to have access to an NFT distribution canvas to create and sell digital art. By selling digital art, artists are able to reach a broader market (both geographically and demographically), and as a result of the blockchain, continue to benefit financially through economic participation in future sales. New World has built this platform and has already signed such notable artists as Diogo Snow, who has produced numerous pieces for celebrity clients including Drake, and Fetty Wap, an American rapper, singer and songwriter who has over 6.5 million Instagram Followers, as well as many others. Additional information on New World is available at http://newworldinc.io
Graph Blockchain provides shareholders with exposure to various areas of Decentralized Finance (DeFI). Focusing on altcoins through its wholly owned subsidiaries Babbage Mining Corp., a Proof of Stake ("POS") miner, and Beyond the Moon Inc. an IDO focused company, Graph gives investors exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains altcoins represent. In addition, through its investment in New World, Graph is providing its shareholders with exposure to rapidly growing and emerging NFT market.
Additional information on the Company is available at www.graphblockchain.com, www.newworldinc.io and www.babbagemining.com
For further information, please contact:
Jamie Hyland Phone: 604.442.2425 Email: jamie@graphblockchain.com
Joshua Greenwald/Rich DiGregorio Phone: 646.379.7971/856.889.7351 Email: gblc@kcsa.com
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the continued growth of the art-focused NFT market. Forward-looking information in this news release are based on certain assumptions and expected future events. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the potential inability of New World to continue as a going concern; the risks associated with the blockchain and NFT industry in general; increased competition in the art-focused NFT market; the potential future unviability of the NFT market in general, and the art-focused NFT market in specific. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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CoinSmart Financial Inc. (NEO: SMRT) (FSE: IIR) ("CoinSmart"), a leading Canadian headquartered crypto asset trading platform, today announced record preliminary unaudited monthly revenue in November 2021 of approximately $1.94 million1. This represents a 7% increase compared to October 2021 and was primarily driven by increased trading volume.
CoinSmart CEO Justin Hartzman commented:
"November saw incredible volatility in the market, leading to increased revenue and a record set once again. CoinSmart thrives on the asset classes extreme volatility creating market opportunities, translating into increased trading activity amongst our client base. We are thrilled to be the marketplace of choice to facilitate such action. CoinSmart's revenue is not pegged to any one crypto asset's price which is one of the main advantages of being an ecosystem trading platform."
From time to time the company may report on any new records it achieves on key performance metrics3.
CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer and marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: regulatory approvals. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
This press release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for the revenue of CoinSmart during November 2021 and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading "Cautionary Note Regarding Forward-Looking Information and Other Disclosures" above and assumptions with respect to market conditions, pricing, and demand. The actual results of CoinSmart's operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. CoinSmart and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading "Cautionary Note Regarding Forward-Looking Information and Other Disclosures" above, it should not be relied on as necessarily indicative of future results. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under 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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact:
Justin Hartzman Chief Executive Officer E-mail:ir@coinsmart.com Tel.: (647) 923-7678
1 All figures stated above are preliminary, unaudited and subject to final adjustment. 2 Based on 60,364,549 shares outstanding as of January 4, 2022 3 See heading "Financial Outlook."
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109103
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Prophecy DeFi Inc. (" Prophecy DeFi " or the " Company ") (CSE: PDFI) announces that it has granted an aggregate of 1,400,000 options to purchase common shares of the Company to an officer and consultants of the Company, exercisable at a price of $0.60 per common share for a period of three (3) years from the date of grant, in accordance with the terms of the Company's stock option plan. The common shares issuable upon exercise of the options are subject to a statutory hold period of four months and one day from the date of grant.
Prophecy DeFi (CSE: PDFI) officially launched on June 23, 2021 . The Company aims to bring together technology start-ups in the Blockchain and DeFi sectors to fund innovation, elevate industry research, and create new business opportunities in a coherent ecosystem.
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information includes, among others, statements regarding the expected use of proceeds of the Offering. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. No assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur or, if any of them do so, what benefits the Company will derive therefrom. The forward-looking information is made as of the date of this news release and the Company undertakes no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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Prophecy DeFi Inc. (CSE: PDFI) ("Prophecy DeFi" or the "Company") is pleased to announce that it has closed its previously announced brokered private placement of an aggregate of 5,680 convertible debenture units of the Company (the "Debenture Units") at an issue price of $1,000 per Debenture Unit for aggregate gross proceeds of $5,680,000 (the "Offering").
Each Debenture Unit is comprised of $1,000 principal amount of 10.0% unsecured convertible debentures of the Company (the "Convertible Debentures") and 1,667 common share purchase warrants of the Company (the "Warrants"). Each Convertible Debenture matures 36 months following the closing of the Offering (the "Maturity Date") and bears interest at a rate of 10.0% per annum from the date of issue, payable quarterly in cash. The Convertible Debentures are convertible into common shares of the Company ("Common Shares") at the option of the holder at any time prior to the Maturity Date, or on the business day immediately preceding a date fixed for redemption of the Convertible Debentures, at a conversion price equal to $0.60 per Common Share (the "Conversion Price"). Upon conversion, the holder will receive accrued and unpaid interest on the principal amount of the Convertible Debentures that is the subject of the conversion for the period from and including the date of the latest interest payment date to, but excluding, the date of conversion. The Conversion Price is subject to adjustment upon the occurrence of certain customary events. The Company has the right to force conversion of the Convertible Debentures at the Conversion Price if the daily volume weighted average trading price of the Common Shares on the Canadian Securities Exchange (the "CSE") is greater than $1.20 for 10 consecutive trading days. Upon a change of control of the Company, holders of Convertible Debentures have the right to require the Company to repurchase their Convertible Debentures, in whole or in part, on the date that is 30 days following notice of the change of control at a price equal to 105% of the principal amount of the Convertible Debentures then outstanding plus accrued and unpaid interest thereon.
Each Warrant is exercisable into one Common Share at a price of $0.90 per Common Share for a period of 36 months from the closing of the Offering, subject to the right of the Company to accelerate the expiry date of the Warrants if, at any time following the date that is four months and one day following the closing of the Offering, the daily volume weighted average trading price of the Common Shares on the CSE is greater than $1.80 for 10 consecutive trading days.
As consideration for the services provided by Canaccord Genuity Corp. (the "Lead Agent") on behalf of a syndicate of agents including INFOR Financial Inc. (collectively, the "Agents"), in connection with the Offering, the Agents received a commission of $284,000 and issued 473,333 warrants of the Company, each of which is exercisable to acquire one unit of the Company (an "Agent's Unit") at any time prior to the date that is 36 months following the closing of the Offering at an exercise price equal to the Conversion Price. Each Agents' Unit will be comprised of one Common Share and one Warrant. The Company also paid the Lead Agent a corporate finance fee of 142 Debenture Units.
The net proceeds of the Offering will be used by the Company for Layer2 Blockchain's liquidity mining operations and for general working capital purposes. The Debenture Units, including the Convertible Debentures, the Warrants and the Common Shares issuable upon conversion or exercise thereof, will be subject to a four-month hold period from the date of the closing of the Offering.
The CSE has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended (the "Act"), and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
Prophecy DeFi (CSE: PDFI) officially launched on June 23, 2021. The Company aims to bring together technology start-ups in the Blockchain and DeFi sectors to fund innovation, elevate industry research, and create new business opportunities in a coherent ecosystem.
For further information, please contact:
John McMahon, CEO Tel: (416) 764-0314 Email: jmcmahon@prophecydefi.com
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information includes, among others, statements regarding the expected use of proceeds of the Offering. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. No assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur or, if any of them do so, what benefits the Company will derive therefrom. The forward-looking information is made as of the date of this news release and the Company undertakes no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
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CoinSmart Financial Inc. (NEO: SMRT) (FSE:IIR) ("CoinSmart"), a leading Canadian headquartered crypto asset trading platform, announced today that its wholly owned operating subsidiary Simply Digital Technologies Inc. has been granted status as a Marketplace by all Canadian securities regulators.
CoinSmart is only the second platform in Canada to achieve this relief, allowing customers to trade crypto assets securely through a fully regulated platform.
Earlier this year, CoinSmart was one of the first crypto trading platforms to be registered as a restricted dealer by all Canadian securities regulators. However, a restricted dealer cannot allow an order to be matched between two customers. Instead a restricted dealer has to match the other side of all customer orders. To fill an order restricted dealers will typically add a markup and route the order to an external liquidity provider (who may or may not be regulated in Canada). Marketplace Registration status now allows CoinSmart to offer full order book functionality where customer orders can be directly matched with one another.
CoinSmart CEO Justin Hartzman commented, "This is a tremendous step for CoinSmart and the Canadian crypto asset ecosystem as a whole. Clear and sensible regulation is paramount for further growth of our industry. We are proud to be one of the first Canadian platforms to achieve Marketplace Registration which will allow CoinSmart to continue to be a market leader. This is just another step towards our growth and future plans."
CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a restricted dealer and a marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may","could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: regulatory approvals. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under 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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact:
Justin Hartzman Chief Executive Officer E-mail:justin@coinsmart.com Tel.: (647) 923-7678
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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