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CanadaBis Announces Letter of Intent and Intention to Complete Its Qualifying Transaction

CanadaBis Announces Letter of Intent and Intention to Complete Its Qualifying Transaction

Calgary, Alberta (FSCwire)CANADABIS CAPITAL INC. (TSXV – CANB.P) (the “Corporation”), a capital pool company, is pleased to announce that it has signed a letter of intent dated January 19, 2018, (the “LOI“) with Applied Data Finance, LLC, a limited liability company existing under the laws of the State of Delaware (“ADF“). The LOI outlines the general terms and conditions pursuant to which the Corporation and ADF would be willing to complete a transaction that will result in a reverse take-over of the Corporation by the security holders of ADF and is intended to constitute the “qualifying transaction” of the Corporation under Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange (the “TSXV“). The Corporation expects to be classified as a Technology issuer upon completion of the transaction.

The transaction is expected to result in the security holders of ADF exchanging all securities of ADF for shares of the Corporation. It is expected that the shares of the Corporation to be issued in consideration for the securities of ADF will consist of a combination of common shares of the Corporation and restricted voting common shares (having no votes in the election of directors) of the Corporation (“Restricted Voting Shares”). The Restricted Voting Shares will not be listed on the TSXV.

The transaction will be structured by way of a plan of arrangement, amalgamation, merger, takeover bid, reorganization or other similar form of transaction, as determined following a review of all relevant legal, regulatory and tax matters (the “Transaction“). The LOI contemplates the Corporation and ADF entering into a definitive agreement (the “Definitive Agreement“) prior to February 22, 2018 (or such other date as may be agreed to by the parties). The LOI may be terminated by either party in certain circumstances, including if the Definitive Agreement is not executed prior to February 22, 2018. The Transaction is subject to requisite regulatory approvals, including the approval of the TSXV, and standard closing conditions, including the approval of the directors of each of the Corporation and ADF of the Definitive Agreement and completion of due diligence investigations to the satisfaction of each of the Corporation and ADF, as well as the conditions described below. The legal structure for the Transaction will be confirmed after the parties have considered all applicable tax, securities law and accounting efficiencies.

The Corporation is incorporated under the provisions of the Business Corporations Act (Alberta) with its registered and head office in Calgary, Alberta and is a “reporting issuer” in the provinces of British Columbia, Alberta and Ontario.

The Transaction is not a non-arm’s length transaction within the meaning of the policies of the TSXV. Trading in the shares of the Corporation on the TSXV has been halted and will remain halted pending receipt by the TSXV of applicable documentation.

Terms of the LOI and Conditions to the Transaction

The LOI provides that completion of the Transaction is subject to a number of conditions including:

  • Each of the parties completing financial and legal due diligence and entering into a Definitive Agreement in respect to the Transaction on or before February 22, 2018.
  • Certain principals of the Corporation shall have surrendered a total of 1,500,000 common shares of the Corporation for cancellation.
  • A concurrent brokered private placement to raise approximately Cdn$65 million in additional funds by the issuance of subscription receipts of a special purpose entity to be established in order to facilitate the Transaction on behalf of ADF (the “Financing”). The Financing will be offered to persons who qualify as “accredited investors” or who similarly qualify in the jurisdiction in which they reside to purchase subscription receipts on a prospectus-exempt basis.
  • The Corporation will have obtained all necessary approvals, consents and acceptances, including all necessary approvals from the applicable securities regulatory authorities.
  • The parties will prepare a filing statement or information circular in accordance with the rules of the TSXV, outlining the terms of the Transaction.
  • ADF will obtain the requisite securityholder approvals, as applicable, for the Transaction.
  • All requisite regulatory approvals relating to the Transaction, including, without limitation, meeting the minimum listing requirements of the TSXV and obtaining TSXV approval.

It is a further term of the LOI that upon completion of the Transaction the resulting issuer’s board will be comprised of directors that will be nominated by ADF and that the resulting issuer will be domiciled in The Cayman Islands.

About ADF

ADF is an innovative, artificial intelligence (“AI”) based, online lender led by a highly seasoned management team with deep experience in both AI and consumer credit. Focused on making loans to non-prime consumers in the United States, ADF has originated over US$90 million in loans to over 23,000 consumers. ADF’s AI driven approach enables it to optimize critical elements in the lending business, including marketing, fraud prevention, credit adjudication, and collections.

Further information relating to ADF will be included in a subsequent press release in connection with the Transaction.

Sponsorship

Sponsorship may be required by the TSXV unless exempt in accordance with TSXV policies. The Corporation is currently reviewing the requirements for sponsorship and intends to apply for an exemption from the sponsorship requirements. There is no assurance that an exemption from this requirement will be obtained. The Corporation intends to include any additional information regarding sponsorship in a subsequent press release.

All information contained in this news release with respect to the Corporation and ADF was supplied by the parties, respectively, for inclusion herein, and each party and its directors and officers have relied on the other party for any information concerning the other party.

For further information regarding the Transaction, please contact:

Gregory Smith

Tel: (587) 356-5625

Email: greg.smith@oakridgefinancial.ca

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and, if applicable, pursuant to the requirements of the TSXV, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder and regulatory approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Corporation should be considered highly speculative.

This press release is not an offer of securities for sale in the United States. The securities described in this press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed Transaction; the terms and conditions of the proposed Financing; future developments and the business and operations of the Resulting Issuer after the proposed Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that the Transaction will proceed and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation and ADF disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view this press release as a PDF file, click onto the following link:

Maximum News Dissemination by FSCwire. https://www.fscwire.com

Copyright © 2018 FSCwire

FanLogic Grants Options

FanLogic Grants Options

Calgary, Alberta (FSCwire) – FanLogic Interactive Inc. (TSXV – FLGC, OTCQB – FNNGF, “FanLogic” or the “Company”) is a market leading digital promotions software company; unlocking the power of loyalty and social influence. Today FanLogic is announcing the grant of 250,000 options to acquire 250,000 common shares at $0.43 (USD$0.3922) to a Consultant to the Company. The options will vest and be subject to all securities rules and regulations. The options will expire three years from the date of the grant.

About Fanlogic:

FanLogic is driving the next evolution in brand awareness and consumer loyalty utilizing Artificial Intelligence, Data Analytics, Blockchain and Tokenization. FanLogic is a brand referral platform used to drive leads and increase brand engagement. FanLogic’s digital lead and sales generation success is driven through its proprietary peer to peer referral based contests, loyalty programs and incentives, coupons, sweepstakes, charitable initiatives, branded games, 50/50 lotteries and charity draws, and social daily fantasy sports and entertainment contests.

FanLogic is the creator of the FanLogic Connect platform. FanLogic Connect provides brands and agencies the ability to create unforgettable social campaigns through unique gamification techniques. FanLogic Connect grants clients the ability to monetize their social media following, and grow their existing audience while gathering highly valuable demographic and behavioral information.

For more information about FanLogic, visit:

http://FanLogicInteractive.com

or

http://FanLogicConnect.com

For further information, please contact:

Randy Brownell

rbrownell@FanLogic.com

CEO

(888) 330-0759

Reader Advisory

Certain information set forth in this news release contains forward-looking statements or information (“forward-looking statements”), including details about the business of the Corporation and the use of proceeds from the Offering. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although the Corporation believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Corporation does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. 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 press release.

To view this press release as a PDF file, click onto the following link:

Maximum News Dissemination by FSCwire. https://www.fscwire.com

Copyright © 2018 FSCwire

SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Blackhawk Network Holdings, Inc. – HAWK

By Brodsky & Smith, LLC

BALA CYNWYD, PA / ACCESSWIRE / January 19, 2018 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Blackhawk Network Holdings, Inc. (“Blackhawk” or “the Company”) (NASDAQ: HAWK) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Silver Lake and P2 Capital Partners (“Silver Lake”).

Click here to learn more http://www.brodskysmith.com/cases/blackhawk-network-holdings-inc-nasdaq-hawk/, or call: 877-534-2590. There is no cost or obligation to you.

Under the terms of the transaction, Blackhawk shareholders will receive only $45.25 in cash for each share of Blackhawk stock they own. The investigation concerns whether the Board of Blackhawk breached their fiduciary duties to shareholders and whether Silver Lake is underpaying for the Company. The transaction may undervalue the Company and would result in a loss for many Blackhawk shareholders. For example, shares of Blackhawk stock have traded at $47.35 per share and an analyst has set a price target for Blackhawk stock at $51.00 per share.

If you own shares of Blackhawk stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/blackhawk-network-holdings-inc-nasdaq-hawk/, or calling toll free 877-LEGAL-90.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE: Brodsky & Smith, LLC

ReleaseID: 486461

SHAREHOLDER NOTICE: Brodsky & Smith, LLC Reminds INC Research Holdings, Inc. (NASDAQ: INCR) Shareholders That Important Deadline Nears

By Brodsky & Smith, LLC

BALA CYNWYD, PA / ACCESSWIRE / January 19, 2018 / On behalf of the law office of Brodsky & Smith, LLC, notice is hereby given that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased or otherwise acquired INC Research Holdings, Inc. (“INCR” or the “Company”) (NASDAQ: INCR) securities between May 10, 2017 and November 9, 2017, both dates inclusive (the “Class Period”). The class action seeks to recover damages against Defendants for alleged violations of federal securities laws.

Click here to learn more, http://www.brodskysmith.com/cases/inc-research-holdings-inc-nasdaq-incr/, or call: 877-534-2590. There is no cost or obligation to you.

INCR provides clinical development services to pharmaceutical, biotechnology, and medical device companies.

On August 1, 2017, INCR announced that it completed a merger (the “Merger”) with inVentiv Health, Inc. (“inVentiv”). At that time, INCR represented to investors that the Merger was the beginning of an “industry-changing new company, purpose-built to achieve the singular goal of accelerating biopharmaceutical performance.”

The lawsuit alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) that the Merger was not providing the benefit that Defendants stated it would; (2) that inVentiv was underperforming; (3) that, as a result, the Company’s 2017 financial performance would be negatively impacted; and (4) that, as a result of the foregoing, defendants’ statements about INCR’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On November 9, 2017, INCR reported a quarterly net loss of $88.9 million (as compared to income of $39.4 million for the 2016 comparable quarter). The Company disclosed that its quarterly operating results – for the first quarter following the Merger – had been impacted by: (i) Merger-related transaction expenses of $84.3 million, (ii) an impairment charge of $30.0 million, and (iii) an increase in amortization expense of $41.9 million due to the acquisition of intangible assets as a result of the Merger.

On this news, INCR’s share price fell $16.35, or approximately 28%, to close at $41.15 on November 9, 2017.

If you are a member of the class described above, and suffered a financial loss during the class period, by no later than January 30, 2018 you may seek to be appointed as a lead plaintiff representative of the class. Your ability to share in any recovery does not require that you serve as lead plaintiff.

If you wish to discuss the legal ramifications of the action or have any questions, you may call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/inc-research-holdings-inc-nasdaq-incr/, or calling toll free 877-LEGAL-90.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE: Brodsky & Smith, LLC

ReleaseID: 485776

Micromem: Update

Toronto, Ontario and New York, New York–(Newsfile Corp. – January 19, 2018) – Micromem Technologies Inc. (“Micromem”) (“the Company”) (CSE: MRM) (OTCQB: MMTIF) announces:

the completion of a $153,000 USD debenture for a 12-month term, bearing an interest rate of five percent (5%) per annum compounded daily. The Company has an option to repay the debenture within the first 6 months of the 12-month term.
the completion of an unsecured convertible debenture by the Company’s CEO totaling $150,000 CAD, bearing an interest rate of one percent (1%) per month, calculated daily, maturing in six months. At any time prior to repayment, the outstanding principal and interest of the convertible debenture may be converted, at the option of the lender, into common shares of the Company at a price per common share of $0.14 CAD.
the completion of an unsecured convertible debenture totaling $160,000 CAD, bearing an interest rate of one percent (1%) per month, calculated daily, maturing in six months. At any time prior to repayment, the outstanding principal and interest of the convertible debenture may be converted, at the option of the lender, into common shares of the Company at a price per common share of $0.14 CAD.
completion of private placements totaling $261,000 CAD at $0.11 CAD per Common Share.

All funds have been used to repay previously unsecured debentures, that have now matured to pay down outstanding accounts payable and for general working capital purposes.

In addition, the Company announces:

the repayment of convertible debentures totaling $250,000 CAD, plus interest, initially secured in December, 2016 and January, 2017. 64,000 shares were issued at a conversion price of $0.30 CAD, to repay the interest on one loan.
the repayment of a debenture totaling $50,000 CAD, plus interest, originally secured in January, 2017.
the convertible unsecured debentures totaling CAD$338,000, as secured in January, 2017, have been renewed with a maturity date of May 11, 2018 and a conversion price of CAD$0.14, all other terms remain unchanged.
1,019,924 shares have been issued at a conversion price of $0.08 USD to pay down a $100,020 debenture secured in July, 2017; $17,742 of the original debenture remains outstanding.


About Micromem and MASTInc
MASTInc is a wholly owned U.S.-based subsidiary of Micromem Technologies Inc., a publicly traded (OTC QB: MMTIF, CSE: MRM) company. MASTInc analyzes specific industry sectors to create intelligent game-changing applications that address unmet market needs. By leveraging its expertise and experience with sophisticated magnetic sensor applications, MASTInc successfully powers the development and implementation of innovative solutions for oil & gas, utilities, automotive, healthcare, government, information technology, manufacturing, and other industries.Visit www.micromeminc.com www.mastinc.com.

Safe Harbor Statement
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company’s actual results to differ materially from those projected in such forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward looking statements include: our inability to obtain additional financing on acceptable terms; risk that our products and services will not gain widespread market acceptance; continued consumer adoption of digital technology; inability to compete with others who provide comparable products; the failure of our technology; the infringement of our technology with proprietary rights of third parties; inability to respond to consumer and technological demands; inability to replace significant customers; seasonal nature of our business; and other risks detailed in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. When used in this document, the words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential,” and similar expressions may be used to identify forward-looking statements.

The CSE or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release that has been prepared by management.

Listing: NASD OTC-QB – Symbol: MMTIF
CSE – Symbol: MRM
Shares issued: 229,646,635
SEC File No: 0-26005
Investor Contact: info@micromeminc.com; Tel. 416-364-2023
Subscribe to receive News Releases by Email on our website’s home page. www.micromeminc.com

Erin Ventures to Issue Common Shares in Satisfaction of Debt

Erin Ventures to Issue Common Shares in Satisfaction of Debt

Victoria, British Columbia (FSCwire) – Erin Ventures Inc. (“Erin” or the “Corporation”) [TSXV: EV] is pleased to announce that the Corporation and certain debtholders have entered into agreements to settle some of the indebtedness and accounts payable of Erin for an aggregate total of $632,206.90 (the “Shares for Debt Transactions”) through conversion of such debt into common shares of the Corporation (the “Common Shares”). Pursuant to the Shares for Debt Transactions, the Corporation will issue an aggregate of 6,322,068 Common Shares, at a deemed price of $0.10 per Common Share.

The Common Shares issued will be subject to a four month hold period. The proposed shares for debt settlement is subject to the approval of the TSX Venture Exchange.

On behalf of the Board of Directors,

Blake Fallis, General Manager

About Erin Ventures

Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia and gold assets in North America. Headquartered in Victoria, B.C., Canada, Erin’s shares are traded on the TSX Venture Exchange under the symbol “EV”. For detailed information please see Erin’s website at www.erinventures.com or the Company’s filed documents at www.sedar.com.

Erin’s 100% owned Piskanja project is a high-grade boron deposit with a NI 43-101 compliant mineral resource of 5.6 million indicated tonnes (30.8% B2O3), in addition to 6.2 million inferred tonnes (28.8% B2O3).

For further information, please contact:

Erin’s Public Quotations:

Erin Ventures Inc.

Canada

Blake Fallis, General Manager

TSX Venture: EV

Phone: 1-250-384-1999 or 1-888-289-3746

USA

www.erinventures.com

SEC 12G3-2(B) #82-4432

645 Fort Street, Suite 203

OTCBB: ERVFF

Victoria BC V8W1G2

Europe

Canada

Berlin Stock Exchange: EKV

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.

Forward Looking Statements:

This press release may contain or refer to forward-looking information under Canadian securities legislation, including statements regarding the timing of future mineral resource estimates and the PEA, estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and future production and is based on current expectations that involve a number of business risks and uncertainties. The words “believe,” “expect,” “feel,” “plan,” “anticipate,” “project,” “could,” “should” and other similar expressions generally identify forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, as well as those factors discussed in the section entitled “Risks of the Business” in the Company’s most recent regulatory filings which are posted on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities law. These and other factors made in public disclosures and filings by the Company should be considered carefully.

To view this press release as a PDF file, click onto the following link:

Maximum News Dissemination by FSCwire. https://www.fscwire.com

Copyright © 2018 FSCwire

Stonegate Capital Partners Updates Coverage on Payment Data Systems, Inc. (NASDAQ: PYDS)

By Stonegate Capital Partners

DALLAS, TX / ACCESSWIRE / January 19, 2018 / Payment Data Systems, Inc. (NASDAQ: PYDS).

COMPANY DESCRIPTION

Payment Data Systems, Inc., together with its subsidiaries, provides integrated electronic payment processing services to merchants and businesses in the United States. The Company offers various types of automated clearing house (ACH) processing, and credit card, prepaid card, and debit card-based processing services. The Company also offers merchant account services for the processing of card-based transactions through the VISA, MasterCard, American Express, Discover, and JCB networks, including online terminal services accessed through a website or retail services, accessed through a physical terminal. Furthermore, the Company creates, manages, and processes prepaid card programs for corporate clients to issue prepaid cards to their customer base or employees and also issues general purpose, reloadable cards to consumers as an alternative to a traditional bank account. Payment Data Systems, Inc. was founded in 1998 and is headquartered in San Antonio, Texas.

SUMMARY

Payment Data Systems is using the cash flow from its core ACH, credit card and debit card processing business to invest in new business opportunities. With a solid balance sheet and positive cash flow, the Company is investing for the long-term and hopes to continue its growth by:

  • Operating in niche verticals where it can be a leader in ACH and credit card payment processing
  • Focusing on delivering a better customer experience compared to larger competitors by offering its customers leading technology platforms and customization. As an example, Payment Data Systems states that it was the first prepaid card integrated with Apple Pay
  • Enabling organic growth through continued use of its indirect sales model to drive revenue growth
  • Using its cash flow to fund growth initiatives such as continuously innovating its merchant processing platform
  • Expanding its ACH banking relationships
  • Increasing the brand awareness of its Akimbo platform
  • Supplementing its organic growth by targeting acquisitions of credit card processing portfolios that can provide immediate cash flow
  • An example of acquiring a company with complementary products and services is the deal just recently closed on Singular Payments as of 9/1/17; Singular Payments processed $440M in payments and 2.5M transactions in 2016. The acquisition of Singular has the potential to increase the Company’s processed payments by ~15% and its processed transactions by ~20%
  • Continuing to rely on its balance sheet that shows no debt and has a clean capital structure

We employ both comparative company analysis as well as analysis of precedent transactions using a EV/Sales framework for valuation. See the full report for details. We have factored in the recent Q317 results, and as such, have slightly adjusted our estimates. As expected, there has been a fairly seamless transition of the business from Singular; Vaden Landers, CEO of Singular Payments and now Chief Revenue Officer of the Company, and all Singular employees, have joined the PYDS team.

We note that on 12/27/17, PYDS announced the completion of a direct offering with institutional investors of 1,176,000 shares for net proceeds of $2.75M; funds are to be utilized for general corporate purposes and working capital.

Click on the following link to access the full report:

http://www.stonegateinc.com/reports/PYDS_JAN_2018_Final_v3.pdf

Stonegate Capital Partners

Stonegate Capital Partners is a Dallas-based corporate advisory firm dedicated to serving the specialized needs of small-cap public companies. Since our inception, our mission has been to find innovative, undervalued public companies for our network of leading institutional investors who seek high-quality investment opportunities.

SOURCE: Stonegate Capital Partners

ReleaseID: 486435

Vuzix to Present at LD Micro Virtual: CES Wrap Up on January 22nd

By Vuzix Corporation

ROCHESTER, NY / ACCESSWIRE / January 19, 2018 / Vuzix® Corporation (NASDAQ: VUZI) (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets, is pleased to announce that Vuzix CEO and President Paul Travers will present at LD Micro Virtual: CES Wrap up on Monday, January 22, 2018, at 1:00 PM EST.

Chris Lahiji, President of LD Micro, will be hosting the Vuzix presentation, which will consist of a 20-minute presentation followed by 5 minutes of Q&A. To register for this event please use the following link: Vuzix LD Micro Virtual 2018 CES Wrap Up.

News Compliments of ACCESSWIRE.

About LD Micro

LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has turned into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event). In 2015, LDM launched the first pure microcap index (*the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe. For additional information, please contact David Sher at david@ldmicro.com or visit www.ldmicro.com/events.

About Vuzix Corporation

Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 59 patents and 42 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2018 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to the company’s success and the Company’s leadership in the Smart Glasses and AR display industry. They are generally identified by words such as “believes,” “may,” “expects,” “anticipates,” “should” and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based on the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Matt Margolis
Director of Corporate Communications and Investor Relations
Vuzix Corporation
matt_margolis@vuzix.com
Tel: (585) 359-5952

Andrew Haag
Managing Partner, IRTH Communications
vuzi@irthcommunications.com
Tel: (866) 976-4784

Vuzix Corporation, 25 Hendrix Road, Suite A
West Henrietta, NY 14586 USA

Investor Information – IR@vuzix.com www.vuzix.com

For further sales and product information, please visit:

North America:

http://www.vuzix.com/contact/

Europe/UK:

https://www.vuzix.eu/contact/

Asia:

http://www.vuzix.jp/contact.html

SOURCE: Vuzix® Corporation

ReleaseID: 486456

KOBE STEEL INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Kobe Steel, Ltd. To Contact The Firm

By Faruqi & Faruqi, LLP

NEW YORK, NY / ACCESSWIRE / January 19, 2018 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Kobe Steel, Ltd. (“Kobe” or the “Company”) (OTC PINK: KBSTY) (OTC PINK: KBSTF) of the February 26, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Kobe American Depositary Receipts (“ADRs”) between May 29, 2013 and October 12, 2017 and would like to discuss your legal rights, click here: www.faruqilaw.com/KBSTY. There is no cost or obligation to you.


You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:

FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Kobe ADRs between May 29, 2013 and October 12, 2017 (the “Class Period”). The case, Aude v. Kobe Steel, Ltd. et al, No. 1:17-cv-10085 was filed on December 26, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failing to disclose that: (a) Kobe falsified data on many of its aluminum, copper and steel products sold to customers; (b) Kobe sold products that failed quality control tests in violation of laws and regulations; (c) Kobe’s financial performance relied on selling products that did not meet quality standards in violation of laws and regulations; (d) Kobe would incur significant costs and lose customers if customers became aware of the aforementioned; (e) Kobe’s compliance initiatives, corporate governance and risk management activities were ineffective and inadequate; (f) Kobe’s internal reporting systems failed to foster employee participation and adequately address employee concerns; and (g) as a result, Kobe’s statements about its business, operations and prospects were materially false and/or misleading and/or lacked a reasonable basis.

Specifically, between October 8, 2017 and October 13, 2017, the Company admitted to falsifying inspection certificates on its core products in its aluminum and copper and iron and steel segments and not complying with customer standards. As a result, the price of Kobe ADRs significantly declined.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Kobe’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 486459

East Asia Minerals Reminds Shareholders of Important Vote

  • Your investment is at risk. Shareholders reminded to vote prior to January 23, 2018.
  • Largest shareholder at over 20%, supports the incumbent Board.
  • New management team and Board of Directors have poised the Company for growth in 2018.

Vancouver, British Columbia–(Newsfile Corp. – January 19, 2018) – East Asia Minerals Corporation (TSXV: EAS) (“East Asia Minerals” or the “Company“) reminds shareholders of the important vote at this year’s annual and special general meeting (the “Meeting”) being held on January 26, 2018.

“At the upcoming Meeting, shareholders will face a contested election for the Board of Directors,” explained Terry Filbert, East Asia Minerals’ CEO and Chairman. “In March 2017, I joined East Asia Minerals as CEO and Chairman, along with a new Board of Directors and management team to lead the Company. Since then, your new team has accomplished more in the last few months than the previous management team and directors had over the past five years. The strategy set by the incumbent Board has preserved and revitalized our assets. However, the dissident nominees pose a threat to this positive momentum.”

Furthermore, the Company is pleased to announce that its largest shareholder holding over 20% of the outstanding shares, Tocqueville Asset Management, is supportive of the renewed management team and Board of Directors. This support is further evidenced by their vote cast in favour of the incumbent Directors.

Background

On December 22, 2017, the Company received notice from Messrs. Vishal Ghupta and Patrick Cronin, stating their intentions to put forward five dissident director nominees (the “Dissident Nominees“) for election at the upcoming Meeting to replace the incumbent board. Shareholders should be make an informed decision before voting and note the following:

  • The proposed five dissident nominees has been reduced to four and Mr. Cronin is no longer a dissident director nominee. This is most likely due to the Company having uncovered and disclosing crucial information to Shareholders that Mr. Cronin is currently serving a 10 year ban sanctioned by the Canadian securities regulatory authority, the Mutual Fund Dealers Association, for problematic actions. Although Mr. Cronin is no longer a dissident nominee, he is still leading the dissident campaign with Mr. Ghupta.

More startling details about the Dissident Nominees can be found in the letter to shareholders dated January 15, 2018 that was recently mailed out to shareholders. The letter to shareholders can also be found on the Company’s website at www.eastasiaminerals.com.

Dissidents’ Faulty Business Plan

The Sangihe and Miwah Projects
The dissident’s state they will immediately stop all activities and expenditures on the Company’s Sangihe project and focus solely on the Miwah project should the Dissident Nominees be elected. This statement only emphasises the lack of knowledge the Dissident Nominees have regarding the Company and the intricacies involved in its projects in Indonesia.

Management and the Board of Directors aim to develop both the Sangihe and Miwah projects. When the new management team and Board of Directors started, the Sangihe asset was within a few weeks of being lost as a result of unpaid and overdue Dead rent. This would have been devastating to the Company due to Sangihe being the only asset that can provide revenue and profit in the near term, as well as provide a much larger resource once it is completely explored and drilled. With regards to the Miwah project, the local Aceh government had deemed it abandoned by the former management due to non payment of fees, no filing of any reports required by the Aceh government since 2015, and the former management’s unresponsiveness to a legal issue brought forth by a government official in that same year. Since joining in March 2017, the current management team has been working on repairing the Company’s relationship with the Indonesian government and has started to establish good will with members of the Aceh and Federal governments, in order to develop a path to bring the Miwah project current and to show the Company’s sincerity in making Miwah a success. Demonstrating that the Company can bring the Sangihe project into production is imperative in convincing those officials that East Asia Minerals is no longer a talk only” company but a real and profitable mining company that does as it promises. To abandon the Sangihe project as the dissidents propose, is to also abandon the Miwah project. Detailed information regarding the projects and the 2018 work plan can be found in the investors presentations on the Company’s website at www.eastasiaminerals.com.

No Succession Plan
Additionally, the Dissident Nominees have admitted to having no succession plan should they take the Company over and state that they “have made no definitive determinations as to the composition of the management team…”. Shareholders should be concerned that with no leader and no management team to helm the Company, the great progress accomplished to date, may start back at ground zero. Shareholders should not have to settle for an uncertain future with an uncertain and unproven team.

Vote FOR the Renewed and Experienced Board of Directors Who Are Delivering

The renewed Board of Directors and management team have placed the company in a position to grow and they have been able to accomplish more in the last few months than the previous management team and directors had over the past five years.

The Company is at the cusp of becoming a profitable producer in 2018 and adding value to its shareholders’ investment. Therefore, now is not the time for change. Vote FOR the recently renewed Board of Directors who has and will continue to steward the Company forward.

Shareholders are encouraged to vote online or by telephone by using management’s WHITE proxy, prior to the deadline on January 24th at 10 a.m. (Vancouver Time).

Further Information or Assistance

East Asia Minerals has retained Laurel Hill Advisory Group (“Laurel Hill”) as their Proxy Solicitation Agent. For more information or if you require assistance with voting, please contact Laurel Hill at:

Laurel Hill Advisory Group
North America Toll Free: 1-877-452-7184
Collect Calls Outside North America: 1-416-304-0211
Email: assiatance@laurelhill.com

or

Mark Sommer
East Asia Minerals Corporation
Telephone: 1-604-684-2183
Email: info@eastasiaminerals.com

The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below

Neither 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.

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.