21:11:53 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Nanostruck Technologies Inc
Symbol NSK
Shares Issued 259,396,900
Close 2016-03-23 C$ 0.005
Market Cap C$ 1,296,985
Recent Sedar Documents

Nanostruck receives conditional OK for COB, financing

2016-03-31 12:37 ET - News Release

Mr. Bundeep Rangar reports

NANOSTRUCK OBTAINS CONDITIONAL APPROVAL FOR CHANGE OF BUSINESS

Nanostruck Technologies Inc. has received conditional approval of the Canadian Securities Exchange for its proposed change of business, subject to majority shareholder approval. The CSE has also approved the completion of a financing sufficient to meet working capital requirements.

The company's board will now seek the necessary majority shareholder approval for the change of business to become a platform for the emerging area of alternative finance known as crowdfunding and discontinue its water remediation and tailings processing business. The decision to implement the change of business has been the result of extensive in-house and external research. Nanostruck's management deems the change of business to be necessary to deliver improved shareholder returns and long-term shareholder value.

Trading of the company's common shares will remain halted to allow dissemination of the listing statement describing the fundamental change and to obtain consents from the majority shareholders of the company. Thereafter, the company's common shares will resume trading under its new name, Fineqia International Inc., new Cusip number/ISIN (international securities identification number) and new stock ticker symbol.

"Fineqia provides its shareholders a unique opportunity to be part of an imminent and paradigm shift in financial services," said Bundeep Singh Rangar, chief executive officer of the company. "Our new business based in London, the hub of global financial services, puts us in pole position in the transformation under way in debt and equity placements."

The change of business will be executed through the incorporation of a new wholly owned United Kingdom subsidiary, which will operate a regulated crowdfunding platform focused on debt instruments, specifically referred to as mini-bonds. The platform will allow individuals and financial institutions to discover and invest in high-yield debt securities that meet United Kingdom crowdfunding regulatory guidelines.

According to the National Crowdfunding Association of Canada (NCFA), crowdfunding is the raising of funds through the collection of small contributions from the general public using the Internet and social media. As the industry has evolved, it has attracted institutional investors such as family offices, hedge funds and asset managers to subscribe to debt and equity products offered on crowdfunding and peer-to-peer platforms.

Based on the Massolution 2015 industry report, the worldwide crowdfunding market doubled to $34.4-billion (U.S.) ($45.42-billion) from $16.2-billion (U.S.) ($21.39-billion) in 2014. The mini-bond industry itself is expected to be worth $11.28-billion (U.S.) ($14.89-billion) by 2017 from about $127-million (U.S.) ($167.5-million) in 2012, according to Capita Registrars in the United Kingdom.

Fineqia's strategic focus will be to provide a platform and associated services to support security issuances and manage the administration of debt securities such as mini-bonds. The platform will bring an issuing company's mini-bonds to market by distributing and marketing mini-bonds to the crowd, as well as transparently highlighting the risks and objectively outlining opportunities involved.

Full disclosure will be provided in the new listing statement that will be filed on the CSE's website, as well as on SEDAR.

We seek Safe Harbor.

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