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Loop Announces Completion of Reverse Take-Over and Closing of Oversubscribed Private Placement

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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES 

VANCOUVER, British Columbia, June 12, 2019 (GLOBE NEWSWIRE) — Loop Insights Inc. is pleased to announce the completion of the reverse takeover transaction (the “RTO”), which was previously announced by news release on February 5, 2019, between the former Loop Insights Inc. (“Old Loop”) and AlkaLi3 Resources Inc. (“AlkaLi3”) and the oversubscribed closing of the previously announced non-brokered private placement (the “Financing”) of Old Loop.  As previously announced by news release dated May 7, 2019, the RTO was approved at the annual and special meetings of each of the Loop and AlkaLi3 shareholders held on May 7, 2019.

Reverse Takeover

As a result of the RTO, Old Loop and AlkaLi3 amalgamated and former shareholders of Old Loop and AlkaLi3 are now shareholders of the amalgamated corporation (“Loop”, the “Resulting Issuer” or the “Company”). Immediately prior to the completion of the amalgamation, AlkaLi3 completed a consolidation of all of its issued and outstanding common shares on the basis of ten (10) old common shares for one (1) new common share and continued from the Province of Alberta to the Province of British Columbia. The Resulting Issuer will carry on the business of Old Loop under the name “Loop Insights Inc.”

Pursuant to the amalgamation, holders of common shares of each of Old Loop and AlkaLi3 received one (1) Resulting Issuer common share in exchange for each common share of Old Loop and AlkaLi3, as applicable, held.  Additionally, holders of options to purchase common shares of AlkaLi3 and Od Loop, holders of convertible debentures of Old Loop and holders of warrants of Old Loop, including all securities issued pursuant to the Financing (as described below), received one (1) equal convertible security to purchase Resulting Issuer common shares in exchange for each Old Loop option, AlkaLi3 option, Old Loop convertible debenture and/or Od Loop warrant, as applicable, held. As a result of the RTO and the Financing, there are now 58,889,377 common shares issued and outstanding in the capital of the Company, of which 39,350,100 are escrowed as Tier 2 Surplus escrow shares and will be released incrementally over 36 months.

Further details regarding the RTO are contained in the Company and AlkaLi3’s Joint Information Circular dated April 11, 2019 (the “Information Circular”) which has been filed on SEDAR at www.sedar.com.

Financing

The Financing involved the issuance of 3,754,250 units (the “Units”) of Old Loop at a price of $0.80 for gross proceeds of $3,003,400. Each Unit consisted of one (1) common share in the capital of Old Loop (a “Common Share”) and one (1) common share purchase warrant (a “Warrant”) of Old Loop.  Each of the Units were exchanged for securities of the Resulting Issuer pursuant to the RTO on a one for one basis.  Each Warrant will be exercisable for two years to purchase an additional Common Share at a price of $1.50. Proceeds from the Financing are expected to be used as disclosed in the Information Circular.

In connection with the Financing, the Company paid to certain arm’s length parties finder’s fees comprised of (i) cash equal to eight percent (8%) of the gross proceeds received from subscribers sourced by the finders, and (ii) share purchase warrants exercisable to acquire up to 173,340 common shares of the Company (the “Finder Warrants”). Each of the Finder Warrants were exchanged for securities of the Resulting Issuer bearing substantially the same terms pursuant to the RTO on a one for one basis.  The Finder Warrants will be exercisable for a period of two years from the date of issuance at a price of $1.50 per common share.

Further details regarding the Financing are contained in the Information Circular and in AlkaLi3’s news release dated May 3, 2019, both of which have been filed on SEDAR at www.sedar.com.

New Management and Board of Directors

The following individuals now comprise the board of directors and senior officers of the Resulting Issuer:

Rob Anson – Director, President and Chief Executive Officer

Rob Anson brings over 10 years of experience in strategic product development around the world, having previously worked on the implementation of business strategies with numerous retailers including Walmart, Amazon, Home Depot, Ace Hardware, Tru Value and Krogers. Mr. Anson currently serves as the President of Fobisuite Technologies Inc. and previously served as Chief Executive Officer of One Team Media Inc. Mr. Anson had also previously co-founded and served as executive producer of the Reel West Coast TV Show.

Dallas Pretty – Director

Dallas Pretty is a Chartered Accountant and brings more than 20 years of corporate finance experience primarily focused in the technology industry. Mr. Pretty previously held senior finance roles with Unity Wireless Corporation, Meridex Software Corporation, Sideware Systems Inc., Inetco Systems Ltd., and MIMIK Technology Inc. Prior to leaving public practice, Mr. Pretty was a manager in the audit and advisory services group at KPMG LLP, where he worked with a portfolio of private and public companies primarily in the technology industry.

Greg Vance – Director

Greg Vance is a Chartered Financial Analyst and has over 20 years of experience in the technology industry. Mr. Vance previously served as Vice President of RBC Capital Markets from 1988 to 1995, and founded and served as President of POS ProVisions Ltd. from 1995 to 1999. POS Provisions Ltd. was subsequently acquired by ScanSource Canada Inc. in 1999 and Mr. Vance then served as President of Canadian Operations of ScanSource Canada Inc. Since then Mr. Vance has been involved with a variety of projects in senior capacities.

Peter Green – Director

Peter Green is a former senior executive with Telus Corporation with more than 25 years of experience in the technology and retail industries. Mr. Green previously served as SVP and President of TELUS Business Solutions from 2013 to 2017, as President of TELUS National Small and Medium Business Customer Solutions from 2010 to 2013, and as Managing Director of TELUS Business Solutions from 2007 to 2010. Prior to that, Mr. Green served as the Managing Director of Business Solutions at Carphone Warehouse in London, England from 2005 to 2007. Mr. Green has also held a variety of senior roles with the Caudwell Group, a market leader in the mobile phone retail industry, in Stoke-on-Trent, England from 2002 to 2004, and with Cable & Wireless, an international technology solutions company, in London, England from 1989 to 2002. Mr. Green holds a business studies degree from Nelson and Colne College in Nelson, England and has successfully completed numerous development programs including the INSEAD Leadership Development Programme, the Racal Management Development Programme and the Mercury Change Management Programme.

Paul Baay – Director

Paul Baay graduated from the University of Western Ontario in 1983 with a Bachelor of Arts degree in Administrative and Commercial Studies. Mr. Baay has served as President and Chief Executive Officer of Touchstone Exploration Inc. (previously known as Petrobank ) since May 2014. Prior thereto, he served as the Chairman and Chief Executive Officer of Touchstone Energy Inc. (from July 2010 to May 2014 when it was acquired by Petrobank). Mr. Baay is formerly the Managing Director of Abacus Energy Inc. and also served as the President and Chief Executive Officer of True Energy Inc. from September 2000 to September 2007. Mr. Baay was a member of the board of directors of Millennium Seismic Ltd. from 2001 to 2007 and Chairman of the board of directors of Request Seismic Surveys Ltd. from March 1998 to September 2000. He also served as President, Chief Executive Officer, and as a director of Remington Energy Ltd. from 1993 to 1999.

Gavin Lee – Chief Operating Officer

Gavin Lee brings over 20 years of senior operations and business development experience in relevant consumer focused industries. From 2005 to 2017, Mr. Lee founded and ran a successful sales and marketing agency in Vancouver. Mr. Lee has built and managed several high performing sales teams, and created go-to-market strategies for retailers such as Nordstrom, Forzani Group and Amazon. From 2000 to 2005, Mr. Lee held senior operations and business development roles with Vancouver based apparel manufacturer Global Collective.

Abbey Abdiye – Chief Financial Officer

Abbey Abdiye is a Chartered Public Accountant and brings over a decade of experience in financial services, business development, financings, public listings and consulting. Mr. Abdiye has served as the Chief Financial Officer of Ceylon Graphite Corp., Biomark Diagnostics Inc., Tower One Wireless Corp., Crop Infrastructure Corp., and Biome Grow Inc.

Casey Matson-DeKay – Chief Technology Officer

Casey Matson-DeKay brings nearly a decade of experience in software development, blockchain technology, UI design and hardware integration. Between 2017 and 2018, Mr. Matson-DeKay served as the Chief Technology Officer of Fobisuite. Mr. Matson-DeKay has also been employed as a programmer with Synq Access + Security Technology and CGI Group.

Douglas Bolen – Legal Counsel and Corporate Secretary

Douglas Bolen is a member in good standing of the Law Societies of British Columbia and Saskatchewan. Mr. Bolen previously practiced law at Balfour Moss LLP (now Miller Thomson LLP) from 1995 to 1999. Subsequently, Mr. Bolen provided consulting services to small and medium sized Canadian and American companies in respect of business organization, business development, financings, going public transactions, and mergers and acquisitions. Mr. Bolen also served as chief executive officer, director and chair of the board of directors of Delta Oil & Gas Inc. from 2004 to 2017. Mr. Bolen has also served as corporate counsel for Playtime Community Gaming Inc. between 2007 and 2015, and Gateway Casinos between 2016 and 2017.

Exchange Approval

The RTO remains subject to final approval by the TSX Venture Exchange (the “TSXV”) and fulfillment of all of the requirements of the TSXV in order to obtain such approval including, among other things, submission and acceptance of all documents requested by the TSXV in its conditional acceptance letter, receipt of a final executed Sponsor Report in respect of the RTO, and payment of all outstanding fees to the TSXV. Until final approval of the TSXV is obtained and a final bulletin is issued, trading in the Resulting Issuer’s common shares will remain halted, and the RTO (including the consolidation of the formerly issued and outstanding common shares of AlkaLi3 and the name change of AlkaLi3 to “Loop Insights Inc.”) will not be treated as effective by the TSXV.

Further details regarding the board and management of the Resulting Issuer are contained in the Information Circular, which has been filed on SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD
LOOP INSIGHTS INC.

Rob Anson

Rob Anson
Director, President & Chief Executive Officer

Forward-Looking Statements and Disclaimers

This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding the Transaction including the timing of the Meetings in respect thereof, the fulfillment of all requirements of the TSXV and the category of the Resulting Issuer’s listing on the TSXV. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the parties’ control, including the ability of the parties to satisfy the conditions to completion of the Transaction which include receipt of all regulatory approvals (including the TSXV), the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the parties believe that the expectations in the forward-looking statements are reasonable, they are 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 forward-looking 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. As such, 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. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, neither of the parties 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.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV final acceptance. 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 joint management information circular of AlkaLi3 and Loop dated April 11, 2019  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 Resulting Issuer should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

 

CONTACT: For further information concerning the RTO and this news release, please contact:

Rob Anson                                          
Director, President & Chief Executive Officer                                    
Loop Insights Inc.                                            
Tel: (778) 689-6549                                        
E-mail: rob@loopinsights.ca 

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Blockchain PR

Intertrust acquires Viteos for USD 330 million

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Amsterdam, the Netherlands – 18 June 2019 – Intertrust N.V. (“Intertrust”), a leading global provider of expert administrative services to corporate, fund, capital markets and private wealth clients, today announces the acquisition of Viteos1, a provider of leading-edge technology solutions for U.S. funds, from PPC Enterprises LLC, FiveW Capital LLC (an affiliate of 22C Capital) and Viteos management.

Viteos is a tech-enabled alternative funds industry leader providing end-to-end middle and back office administration for top tier hedge funds, private equity, real estate, private debt and other alternative asset managers. Viteos has approximately 715 employees and operates a global delivery model with its headquarters and sales team in the U.S. supported by Centres of Excellence in India. Viteos delivered revenues of USD 52 million2, 94% in the U.S., having grown at an organic CAGR of 22% over the last two years, and an EBITDA margin of 36.6%.

Transaction highlights

  • Competitive game-changer for Intertrust, accelerating our strategy to become a global leader in tech-enabled corporate and fund solutions through:
    • Gaining a material presence in the U.S., increasing exposure to funds and accelerating our growth potential
    • Leveraging Viteos’ digitalisation and automation technology
    • Building on Viteos’ offshore Centres of Excellence
  • Enterprise value of USD 330 million (EUR 294 million3), resulting in a post-synergy multiple of 8.0x FYE March 2019 EBITDA
  • Significant net run-rate annual cost synergies of approximately USD 22 million4 expected primarily from offshoring
  • ROIC expected to exceed Intertrust’s WACC by 2021 and reach double-digits by 2022
  • Mid-single digit EPS accretion expected by 2020 with double- digit accretion expected by 2021
  • Sound financing structure: approximately 4.1x leverage ratio5 at closing, with strong cash generation expected to drive leverage ratio below 3.0x by 2021
  • Medium-term guidance increased to reflect enhanced revenue growth and cost synergies
  • Viteos’ co-founders, Shankar Iyer and Chitra Baskar (formerly CEO and COO, respectively), will join our Executive Committee and, along with other key employees, have reinvested approximately 35% of their after-tax proceeds in Intertrust shares

Strategic rationale

The acquisition of Viteos is an acceleration of our strategy to become a global leader in tech-enabled corporate and fund solutions, adding a high growth provider of leading-edge technology solutions with a top 10 position in U.S. fund administration and over 80 top tier clients.

The combined group will build on the existing technology partnership between the two companies and the professional relationships between the management teams to drive further growth and lead the digitalisation and innovation of the industry. Viteos’ world-class client base and technology solutions, developed by a team of 130 technology experts, significantly expand the market potential for Intertrust into higher growth adjacencies with attractive cross-selling and upselling opportunities.

The acquisition of Viteos meets the strategic and M&A objectives set out in our Capital Markets Day and, in particular, delivers:

  • Meaningful presence in the U.S. and increased exposure to funds – the combined group will hold a top 10 position in U.S. fund administration providing mission-critical services to asset managers.
  • Accelerated growth potential – Viteos brings new clients, services and technology solutions which expand Intertrust’s market potential into higher growth adjacencies with an annual market value of >EUR 3.5 billion, resulting in a total market potential in excess of EUR 10.0 billion growing at 4-6% per annum (up from EUR 6.5 billion growing at 3-5%).  
  • Strengthened technology foundation – Viteos is at the forefront of digitising and automating fund administration with leading-edge technologies including blockchain, workflow automation, RPA6, and digitalisation/OCR7. Leveraging these tools, the combined group will have the potential to drive incremental revenue growth through service innovation and reduce costs through service automation.
  • Significant step towards operational excellence – building on Viteos’ offshore Centres of Excellence in India will allow us to fast-track our standardisation, centralisation and shared services initiatives, improving the efficiency and quality of our services.

Commenting on today’s announcement, Stephanie Miller, CEO of Intertrust, said:

“Today I am thrilled to announce the acquisition of Viteos. This is a significant leap forward for Intertrust which will accelerate our strategy in every way.

The combination of these world-class businesses enhances our global position in fund services, expands our presence in the U.S. and unlocks many opportunities to cross sell our products and services. It will provide tremendous benefits to our existing clients through advanced technology, a digitised delivery model and a solution-oriented service suite. With the addition of over 700 employees including 130 technology experts, I am particularly excited for the future innovations that our combined organisation will bring to the industry.

These benefits are reflected in the strong value creation from the transaction in the form of double-digit ROIC, double-digit EPS accretion as well as increased growth and margin guidance.

Furthermore, we welcome a Viteos team who is dynamic, engaged and will further our goal of becoming the employer of choice in our industry. Earlier this year Intertrust started a powerful collaboration with Viteos. Today we move forward together as one company to lead the digitalisation and innovation of our industry.”

Shankar Iyer, CEO of Viteos, said:

“This is a very exciting opportunity for Viteos to become an integral part of a successful, global business. We have longstanding relationships with the Intertrust team who are familiar with our industry-leading technology solutions. By bringing together our complementary strengths and capabilities, we will significantly enhance the future prospects for the combined group. We look forward to working with Stephanie and her team and are deeply committed to delivering on our shared strategic objectives.”

Financial benefits

The acquisition of Viteos has compelling financial benefits. The transaction is expected to deliver mid single-digit EPS accretion in the first full year of ownership (2020) and double-digit EPS accretion by 2021 including phased synergies. The ROIC of the transaction is expected to exceed Intertrust’s WACC by 2021 and reach double-digits by 2022 including phased synergies.

USD 22 million of net run-rate annual cost synergies have been identified on a detailed bottom-up basis by Intertrust, Viteos and an expert offshoring consultancy. The synergies will primarily come from offshoring selected support functions for client-facing teams, back office and IT support, with India Centres of Excellence balancing existing jurisdictions and enabling 24-hour support for our clients. We expect to deliver approximately 90% of the synergies by 2021 with approximately 20% coming through by 2020. The aggregate one-off costs over the period to deliver the synergies are estimated at approximately USD 30 million.

Terms and financing

The enterprise value for the acquisition is USD 330 million (EUR 294 million), resulting in a pre-synergy multiple of 17.3x FYE March 2019 EBITDA. Including net run-rate annual cost synergies of USD 22 million, the equivalent post-synergy multiple is 8.0x FYE March 2019 EBITDA.

The acquisition was funded through debt (new USD 150 million term loan plus RCF) and cash on balance sheet with USD 11 million re-invested by Viteos’ management and key employees in Intertrust shares. Leverage ratio8 at closing amounts to approximately 4.1x and is expected to decrease to below 3.0x by 2021.

Following receipt of regulatory approvals, simultaneous signing and closing of the transaction occurred on 17 June 2019.

Guidance

In connection with the acquisition of Viteos, Intertrust is increasing its medium-term guidance as follows:

  • 4-6% underlying revenue growth year-on-year9 (increased from 3-5%);
  • Adjusted EBITA margin of at least 40% for 2021 (increased from at least 38%), from at least 36% in 2019 (unchanged);
  • Capex around 2% of revenue in the medium-term (unchanged) and up to 3% in early years to deliver the Centres of Excellence;
  • Effective tax rate of around 21% (19% previously);
  • Dividend policy and target leverage ratio remain unchanged.                   

Analyst call / webcast

Today, Intertrust’s CEO Stephanie Miller and CFO Hans Turkesteen will host an analyst and investor webcast and conference call at 10:00am CET. The presentation and playback of the webcast and call will be made available on Intertrust’s https://investors.intertrustgroup.com/.

Advisors

The following parties have advised Intertrust on the transaction: Deutsche Bank acted as financial adviser and Simpson Thacher & Bartlett LLP acted as legal counsel. Deutsche Bank provided committed debt financing in support of the transaction.

Investors Media
Marieke Palstra marieke.palstra@intertrustgroup.com
Tel: +31 20 577 1157
Hendrik de Wit hendrik.dewit@intertrustgroup.com
Tel: +31 20 521 4710

About Intertrust

Intertrust N.V. (Euronext: INTER) is a global leader in providing expert administrative services to clients operating and investing in the international business environment. Intertrust has more than 2,500 employees across 41 offices and 29 jurisdictions in Europe, the Americas, Asia Pacific and the Middle East. Intertrust has leading market positions in selected key financial markets, including the Netherlands, Luxembourg, Jersey and the Americas. Intertrust delivers high-quality, tailored corporate, fund, capital market and private wealth services to its clients, with a view to building long-term relationships. Intertrust works with global law firms and accountancy firms, multinational corporations, financial institutions, fund managers, high net worth individuals and family offices.

About Viteos

Viteos is a high growth, tech-enabled leader providing end-to-end middle and back office administration for hedge funds, private equity, real estate, private debt and other alternative asset managers. Viteos holds a top 10 position in U.S. Fund Administration and is a global leader in shadow administration. Viteos services >80 top tier customers with approximately USD 350 billion of Assets under Administration. Viteos was founded in 2003 in the U.S. by Shankar Iyer and Chitra Baskar.

About PPC Enterprises

Public Pension Capital is a New York City-based private equity firm, founded by former senior partners of Kohlberg Kravis Roberts & Co. PPC invests in a select group of industries, including Business and Industrial Services, Financial Services, Healthcare and Specialty Chemicals. https://ppcenterprises.com/

About 22C Capital

22C Capital is a principal investment firm committed to delivering capital and critical resources to companies operating at the intersection of technology enablement and data analytics adoption. The firm has a dedicated focus on the business services, healthcare and financial services sectors. 22C partners with world-class management teams to build companies that are leaders in their respective markets. The firm’s operational and technology resources, including its affiliated data science organization, deliver practical, real-world support to help convert businesses’ challenges into opportunities and unlock their full potential. For more information, go to www.22ccapital.com.

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Intertrust’s ability to control or estimate precisely, such as future market and economic conditions, the behaviour of other market participants, the ability to successfully integrate the business of Viteos and achieve anticipated synergies, interest-rate and exchange-rate fluctuations, changes in tax rates and changes in laws and regulations. You are cautioned not to place undue reliance on these forward-looking statements, which speak only of the date of this press release. Intertrust does not undertake any obligation to update these forward-looking statements. This press release contains information that qualifies, or may qualify, as inside information relating to Intertrust within the meaning of Article 7(1) of the EU Market Abuse Regulation


1              Viteos MidCo Holdings LLC

2              For FYE March 2019

3              Based on closing EURUSD FX rate of 1.12 as of 14-Jun-19

4              Represents impact on EBITDA

5              Based on Senior Facilities Agreement definition which includes cost synergies

6              RPA = Robotic Process Automation

7              OCR = Optical Character Recognition

8              Based on Senior Facilities Agreement definition which includes synergies

9              Underlying: Current and prior period at constant currency and, if applicable, including pro forma figures for acquisitions, based on closing FX rate of 1.12 as of 14-June-19 

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Blockchain PR

WISeKey’s Board of Directors has given principal approval of a share buyback program

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WISeKey’s Board of Directors has given principal approval of a share buyback program

Geneva (Switzerland), June 18th, 2019 – WISeKey International Holding Ltd, (WIHN.SW) (“WISeKey”), a Swiss based cybersecurity and Internet-of-Things company, announced today that its Board of Directors approved in principle a share buyback program not exceeding 10% of the Company’s share capital or voting rights.

The shares would be repurchased for purposes of cancellation. Any share buyback program is subject to prior completion of the applicable regulatory reporting procedure or, as the case may be, prior regulatory approval, in particular by the Swiss Takeover Board. Any share buyback program, once regulatory approval has been obtained and launched, may be suspended or discontinued at any time for various reasons, including to explore a potential acquisition opportunity.

The Board of Directors’ authorization of a stock repurchase program reflects its confidence in the long-term value of WISeKey’s market position, its financial performance and substantial growth opportunities. The Company intends to fund the repurchase program from currently available funds, which as at May 31, 2019 were approximately USD25 million.
The timing of the launch of the share buyback program, and the timing and number of shares to be repurchased, will depend on a variety of factors, including market conditions (such as price and trading volume), the Company’s working capital requirements, general business conditions and alternative investment opportunities.

We believe that, as a global cybersecurity and IoT player, WISeKey is well positioned to take advantage of substantial opportunities in the cybersecurity and IoT market and to continue its growth strategy, both organically and through acquisitions. We are committed to building long-term value for our shareholders.

About WISeKey

WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey Microprocessors Secures the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.).  WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.

Press and investor contacts:

WISeKey International Holding Ltd 
Company Contact:  Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@wisekey.com
WISeKey Investor Relations (US) 
Contact:  Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
lcati@equityny.com

Disclaimer:

This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

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Universal Solar Technology’s Entrex Carbon Market Launches Trading with 10 Verified Carbon Offset Issuers

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BOCA RATON, Fla., June 17, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Today Universal Solar Technology (UNSS) is pleased to announce its Joint Venture with The Entrex Capital Market, which created the Entrex Carbon Market, has launched 10 Verified Carbon Offset Issuers on the platform today.

The Entrex Carbon Market utilizes Entrex’s blockchain enabled technology platform to trade carbon credits, carbon offsets and other environmental securitized products.  The platform allows credits, offsets and other environmental products to be found, researched, tracked, managed and traded via regulated entities through a compliant platform.   

“We just launched a series of international Carbon Offset Issuers today,” said Stephen H. Watkins, CEO of Entrex Carbon Market.  Watkins further explains that the partnership with Net Zero Analysis, has launched each Issuer with a process of accountability where each Carbon Offset Project has been registered on various United Nations Carbon Registries and verified by independent entities.  “Whether an organization is buying, selling or retiring Carbon Offsets, our securitization structure should offer comfort and security to all parties through their regulated partners,” continued Watkins.

“There’s been amazing coordination from all sides to make this happen so quickly,” suggested George Sullivan, CEO of Net Zero Analysis.  “With these varied international issuers of Carbon Offsets we expect to see the market rapidly accept the securitization and regulatory compliance for which many buyers and sellers have been asking.  We’ve delivered what they have long wanted and believe that the time is now for the Entrex Carbon Market to become the global trusted Carbon Offset trading solution.”

“This is indeed a milestone moment,” said Paul D. Landrew, CEO of UNSS.  “The Entrex Carbon Market team has been aggressively working since our Joint Venture agreement and capital commitment two months back.  Watkins and our colleagues at Net Zero Analysis in Chicago have painstakingly assembled the technology and offerings to launch – maybe 19 years in the making – but it looks like less than one quarter to cash-flow — incredible!”

“This is a tremendous step forward for UNSS and our investors,” Landrew continued.  “We expect the trading market to propel UNSS into a leadership position in the sector, utilizing the proven technology created by the Entrex team. It also gives the ability to buy out the equity owners, providing even more anticipated value for our shareholders.”

About Entrex:

Entrex was founded in 2001 as a “capital market system for entrepreneurial companies.”  The new joint venture will utilize Entrex’s intellectual properties and blockchain enabled technologies; built and proven over 17 years using IBM’s Domino and Hyperledger technology platforms.  The Entrex platform originates, structures, offers, places, trades, settles and services debt and equities of entrepreneurial companies through regulated entities that serve investors and issuers.   Working together with industry sector leaders and regulated market constituents allows investors to find, research, track, manage, and trade entrepreneurial securities while providing entrepreneurial companies access to capital.   www.EntrexCapitalMarket.com

About Universal Solar Technology Inc.:

Universal Solar Technology, Inc. (UST, Inc.) is focused on the renewable energy sector through diversified product portfolios and various strategic partnerships.  By leveraging our history in renewable energy manufacturing, we envision opportunities including financial services, product generation, product installation, as well as product and process certifications.  With the ever-increasing awareness of the need for environmental accountability, UST, Inc. is committed to being a catalyst to making practical solutions in this sector available in products, services and education.  www.universalsolartechnology.com.

About Net Zero Analysis:

Net Zero Analysis Carbon Credit Trading Corporation was founded to offer pricing transparency in the marketplace, additional carbon-reduction financing, and to increase carbon offset project viability by connecting to newly accessible market mechanisms created by the Paris Accord, as well as to connect carbon offset product purchasers with the most appropriate sources for certified UNFCCC-compliant products. NZA’s founders represent a wealth of experience in engineering, architecture, building science, energy efficiency, renewable energy, professional education, and real estate matters, as well as a solid grasp of market trends, UNFCCC methodologies, and changes in regulations. www.netzeroanalysis.com

For further information:

George Sullivan                                 
Net Zero                                             
(773) 230-4462                                   
gds@netzeroanalysis.com                   

Stephen H. Watkins                             
Entrex Carbon Market                       
(561) 465-7580                                   
info@EntrexCarbonMarket.com       

Paul D. Landrew
Universal Solar Technology, Inc.
(832) 229-7046
paul.landrew@univesalsolartechnology.com

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