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POSaBIT Announces Brokered Private Placement

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Not for distribution to United States newswire services or for
dissemination in the United States.

TORONTO–(BUSINESS WIRE)–#cannabis–POSaBIT Systems Corporation (CSE: PBIT) (“POSaBIT” or the “Company”) is
pleased to announce that it has engaged Canaccord Genuity Corp. (the
“Lead Agent”), on behalf of a syndicate of agents (together with the
Lead Agent, the “Agents”), in connection with a private placement
offering, on a “commercially reasonable efforts” basis, of up to
16,666,667 units of the Company (the “Units”) at a price of C$0.30 per
Unit (the “Issue Price”) for gross proceeds of up to C$5,000,000.10 (the
“Offering”).

Each Unit will consist of one common share (a “Common Share”) and one
common share purchase warrant of the Company (each whole common share
purchase warrant, a “Warrant”). Each Warrant will entitle the holder to
purchase one common share of the Company (a “Warrant Share”) for a
period of two years following the closing of the Offering at an exercise
price of C$0.45 per Warrant Share, subject to adjustment in certain
events.

The Agents have been granted an option (the “Agents’ Option”) to sell up
to an additional 2,500,000 Units at the Issue Price pursuant to the
Offering, which Agent’s Option is exercisable in whole or in part at any
time up to 48 hours prior to the closing of the Offering.

The net proceeds raised under the Offering will be used for expansion
and business development activities and general working capital and
corporate purposes.

The Company has agreed to pay the Agents a cash commission equal to 7%
(reduced to 3.5% in respect of certain president’s list sales) of the
gross proceeds of the Offering and to issue the Agents such number of
brokers’ warrants (the “Brokers’ Warrants”) as is equal to 7% (reduced
to 3.5% in respect of certain president’s list sales) of the number of
Units issued pursuant to the Offering. Each Brokers’ Warrant will be
exercisable to acquire one common share of the Company for a period of
two years following the closing of the Offering at an exercise price of
C$0.30 per share, subject to adjustment in certain events. The Company
has also agreed to pay the Lead Agent a corporate finance fee of
C$75,000 in connection with the Offering, which fee shall be payable as
to C$37,500 in cash and as to C$37,500 in common shares of the Company
(at a deemed issue price of C$0.30 per share).

The closing of the Offering is expected to occur on or about July 9,
2019, and is subject to receipt of all necessary regulatory approvals,
including the approval of the Canadian Securities Exchange (the “CSE”).
All securities issued pursuant to the Offering will be subject to a four
month hold period in accordance with applicable Canadian securities laws.

This press release shall not constitute an offer to sell or solicitation
of an offer to buy the securities in any jurisdiction. The securities
will not be and have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or applicable exemption from the
registration requirements.

Forward-Looking Statements

This press release contains forward-looking statements, including
statements regarding our business strategy, product development, timing
of product development, events and courses of action. Statements which
are not purely historical are forward-looking statements and include any
statements regarding beliefs, plans, outlook, expectations or intentions
regarding the future including words or phrases such as “anticipate,”
“objective,” “may,” “will,” “might,” “should,” “could,” “can,” “intend,”
“expect,” “believe,” “estimate,” “predict,” “potential,” “plan,” “is
designed to” or similar expressions suggesting future outcomes or the
negative thereof or similar variations. Forward-looking statements may
include, among other things, statements about: the Company’s
expectations regarding the Offering, including the proposed use of the
net proceeds thereof, the closing date of the Offering and the receipt
of required regulatory approvals. Although the Company believes the
assumptions underlying these statements are reasonable, they may prove
to be incorrect. Given these risks, uncertainties and assumptions, you
should not unduly rely on these forward-looking statements.

Forward-looking statements are subject to known and unknown risks,
uncertainties and other important factors that may cause the actual
results to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to, business,
economic and capital market conditions; the ability to manage operating
expenses, which may adversely affect the Company’s financial condition;
the Company’s ability to remain competitive as other better financed
competitors develop and release competitive products; regulatory
uncertainties; market conditions and the demand and pricing for the
Company’s products; the Company’s relationships with its customers,
distributors and business partners; the Company’s ability to
successfully define, design and release new products in a timely manner
that meet the Company’s customers’ needs; the Company’s ability to
attract, retain and motivate qualified personnel; competition in its
industry; the Company’s ability to maintain technological leadership;
the Company’s ability to manage risks inherent in foreign operations;
the impact of technology changes on the Company’s products and industry;
the Company’s failure to develop new and innovative products; the
Company’s ability to successfully maintain and enforce our intellectual
property rights and defend third-party claims of infringement of their
intellectual property rights; the impact of intellectual property
litigation that could materially and adversely affect the Company’s
business; the Company’s ability to manage working capital; and the
Company’s dependence on key personnel. POSaBIT is an early stage company
with a short operating history; it may not achieve profitability; and it
may not actually achieve its plans, projections, or expectations.

Important factors that could cause actual results to differ materially
from POSaBIT’s expectations include, consumer sentiment towards
POSaBIT’s products and blockchain/cryptocurrency exchange technology
generally, litigation, global economic climate, loss of key employees
and consultants, additional funding requirements, changes in laws,
technology failures, competition, and failure of counterparties to
perform their contractual obligations. Except as required by law,
POSaBIT undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future event or
otherwise, after the date on which the statements are made or to reflect
the occurrence of unanticipated events.

About POSaBIT

POSaBIT (CSE: PBIT) is a financial technology company that delivers
unique and innovative, blockchain-enabled payment processing and
point-of-sale systems for cash-only businesses. POSaBIT specializes in
resolving pain points for complex, high-risk, emerging industries like
cannabis with an all-in-one solution that is compliant, user-friendly
and utilizes top-of-the-line hardware. POSaBIT’s unique solution
provides a safer and transparent environment for merchants while
creating a better overall experience for the consumer. For additional
information, visit: www.posabit.com.

Contacts

Investor Relations:
Chelsea Lish
The Blueshirt Group
for POSaBIT
415-217-7722
investors@posabit.com

Media Relations:
Katie North
The Blueshirt Group for
POSaBIT
415-828-8298
katie@blueshirtgroup.com

Management:
Ryan Hamlin
Co-founder and CEO of POSaBIT
415-217-7722
investors@posabit.com

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Business Wire

Thales Named a Market Leader in KuppingerCole Analysts Leadership Compass for Identity-as-a-Service Access Management

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  • Thales recognized for global reach, number of customers and partner ecosystem
  • Positive ratings for innovativeness, interoperability, market position, security and usability

PARIS LA DÉFENSE, France–(BUSINESS WIRE)–Thales today announced that it has been positioned as a Market Leader in the 2019 KuppingerCole Leadership Compass for Identity-as-a-Service (IDaaS) Access Management.

The report recognized Thales, through its SafeNet Trusted Access offer, as a market leader in terms of the number of customers, partner ecosystem, and global reach in the IDaaS Access Management market. KuppingerCole’s Leadership Compass takes a thorough look at the overall IDaaS Access Management industry, provides in-depth analysis of the main players in the market, and rates vendors on innovation, product features, and market reach.

“With a strong global presence, SafeNet Trusted Access presents a flexible solution based on standards and, in addition, agents as a service to cater to the access management requirements of organizations with broad contextual authentication needs,” said Martin Kuppinger, founder and principal analyst, KuppingerCole. “Organizations with common IDaaS Access Management requirements should consider SafeNet Trusted Access on their shortlist, specifically when having a need for strong MFA support and flexible authentication policies.”

KuppingerCole recognized SafeNet Trusted Access for its “wide range of authentication factors combined with broad support for contextual attributes to deliver risk adaptive authentication along with some access management functions targeted at B2B, B2E and G2C market segments.” In addition, the report highlighted the global presence for SafeNet Trusted Access and recommended that organizations “should consider SafeNet Trusted Access on their shortlist, specifically when having a need for strong MFA support and flexible authentication policies.”

The KuppingerCole report rated Thales as “strong positive” or “positive” for:

  • Financial Strength
  • Functionality
  • Innovativeness
  • Interoperability
  • Market Position
  • Security
  • Usability

As enterprises increasing move their applications and data to the cloud, access management is increasingly seen as the solution to help simplify cloud access and mitigate the threat of data breaches. According to recent research from Thales, almost half of businesses believe cloud applications make them a target for cyber-attacks. Surveying 1,050 IT decision makers globally, Thales’ 2019 Access Management Index1 revealed that cloud applications (49%) are listed among the top three reasons an organization might be attacked, just behind unprotected infrastructure such as IoT devices (54%) and web portals (50%).

“Thales is honored to be listed a market leader in the 2019 KuppingerCole Leadership Compass report,” said François Lasnier, Vice President for Access Management solutions at Thales. “This validation demonstrates the strength, reach and innovation of SafeNet Trusted Access in meeting the security, compliance requirements and end user needs of organizations that are embracing the cloud for their mission-critical applications and IT infrastructure.”

Thales’ global market leadership position comes from more than two decades of innovation in the access management and authentication market. SafeNet Trusted Access is a cloud-based access management solution that combines the convenience of single sign-on (SSO) with granular access security controls and adaptive authentication. By validating identities, enforcing access policies and applying Smart SSO, SafeNet Trusted Access helps organizations ensure secure, convenient access to cloud applications, prevent data breaches and simplify compliance.

Download the full KuppingerCole Leadership Compass for IDaaS Acess Management.

1The 2019 Access Management Index, is a survey of 1050 executives in 11 countries with responsibility for, or influence over, IT and data security. The survey, reporting and analysis was conducted by Vanson Bourne, commissioned by Thales.

Contacts

Thales, Media Relations
Security
Constance Arnoux

+33 (0)1 57 77 91 58

constance.arnoux@thalesgroup.com

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Business Wire

Juniper Research: Mobile Financial Services’ Transactions to Exceed $1 Trillion in Emerging Markets by 2024

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Includes Mobile Money Transfer, Microloans, Microsavings and Microinsurance

BASINGSTOKE, England–(BUSINESS WIRE)–#emerging–A new study from Juniper Research found that the total transaction value of the MFS (Mobile Financial Services) market will exceed $1 trillion by 2024; rising from $580 billion in 2019. This is a growth of 70%. The research identified a range of untapped opportunities in Latin America for services such as microfinance, microloans and money transfer, as a key driver of MFS growth over the next five years.

For more insights on Mobile Financial Services in Emerging Markets, download our free whitepaper: The $1 Trillion Opportunity ~ Mobile Financial Services in Emerging Markets.

Latin America – the Underserved Opportunity

The new research, Mobile Financial Services in Emerging Markets: Monetisation Models & Market Forecasts 2019-2024, forecasts that the total number of users accessing MFS in Latin America will grow 20% on average annually over the next five years. This is predicted to grow twice as fast as saturated markets such as Africa & Middle East. In response, it urged MFS vendors to leverage existing experience to launch services in this underserved market.

It also forecasts that the number of MFS users in all emerging markets will reach 1.2 billion by 2024; growing from 890 million in 2019. Africa & Middle East will account for over 600 million users alone by 2024; owing to the high reliance on mobile devices for banking services.

Cash In, Cash Out to Account for Half of Overall MFS Value by 2024

The research found that CICO (Cash In, Cash Out) transactions will be the largest driver of growth for the MFS market; exceeding a value of $590 billion by 2024. CICO allows users to access traditional banking services, such as deposits and withdrawals, via mobile devices.

The report urged MFS providers to expand their agent networks to rapidly grow customer bases. It also forecasts that fostering confidence amongst users for CICO transactions will lead to uptake of more comprehensive MFS products, such as microloans and microinsurance, in the future.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Contacts

For further details please contact

Sam Smith, Press Relations

T: +44(0)1256 830002

E: sam.smith@juniperresearch.com

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Business Wire

Broadband Forum Reimagines Services Deployment and Orchestration With Exclusive CloudCO Demonstration at Broadband World Forum 2019

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The first-of-its-kind demonstration is sponsored by Swisscom, BT, and TIM and will showcase zero touch service provisioning of a multi-vendor access network

AMSTERDAM–(BUSINESS WIRE)–#Cloud–As service providers look to introduce new network technologies to accelerate new services deployment with minimal risk, Broadband Forum will demonstrate the latest developments in its Cloud Central Office (CloudCO) and Open Broadband – Broadband Access Abstraction (OB-BAA) initiatives at Broadband World Forum (BBWF) 2019.

CloudCO is a recasting of the Central Office hosting infrastructure that utilizes Software Defined Networking (SDN), Network Functions Virtualization (NFV) and Cloud technologies to support network functions for broadband services. Within this, OB-BAA specifies Northbound Interfaces (NBI), Core Components and Southbound Adaptation Interfaces (SAI) for functions associated with access network devices that have been virtualized, facilitating co-existence and seamless migration.

The first-of-its-kind demonstration of both initiatives at BBWF 2019 will leverage a combination of SDN automation and virtualization, open source innovation and Broadband Forum’s Open Broadband Labs (OB-Labs) infrastructure. This will show zero touch service provisioning of a multi-vendor access network containing NETCONF/YANG and SNMP access nodes via standard and vendor specific adapters, all through a single portal. It will also take advantage of major enhancements to Broadband Forum’s OB-BAA open source project and a soon-to-be-released new Application Note, APPN-446 – ONAP and CloudCO integration for Residential Broadband HSIA Service.

“The CloudCO and OB-BAA demonstration will represent a radical recasting of services deployment and orchestration to the benefit of the industry,” said Geoff Burke, Chief Marketing Officer at Broadband Forum. “CloudCO and OB-BAA are among our Open Broadband initiatives which aim to advance network migration to cloud-based broadband infrastructures and help service providers realize the possibilities of SDN and NFV. This demonstration will highlight the innovative work of the global Open Broadband Labs and the benefits of industry-wide collaboration and interoperability.”

Specifically, the demo illustrates a multi-vendor network use case in which a customer making a service request has the service created and activated by the service provider, only then to relocate to a new location and find the service seamlessly reactivated. This will show a plethora of benefits which are available to service providers through CloudCO, including reductions in the costs of validating, engineering, and improving operation of services.

BT, Swisscom, and TIM will sponsor the demonstration, reinforcing the important role open standards have to play in operators’ future networks.

Kevin Foster, Head of Broadband Technical Standards for BT, said: “CloudCO and OB-BAA will underpin an ability to create a ‘pick & mix’ access network constructed from different technologies and vendors thereby improving operational effectiveness, customer experience, and ensuring easier migration from legacy technologies and services.”

David Pérez Caparrós, Lead DevOps Engineer at Swisscom, said: “With CloudCO and OB-BAA, we will be able to evolve our access network with new technologies at a faster pace, with lower integration costs and higher customer satisfaction through faster response.”

Mauro Tilocca, Access Network Automation expert and Broadband Forum delegate at TIM, added: “CloudCO and OB-BAA, will improve the agility of net ops and maintenance, and enable open programmable interfaces to improve our service portfolio. This demonstration will show zero touch service provisioning of a multi-vendor access network containing NETCONF/YANG and SNMP access nodes via standard and vendor specific adapters, all through a single portal and ONAP operating as CloudCO Orchestrator as well as End-to-End Service Orchestrator.”

Access vendors participating in the demonstration include Nokia, Altice Labs, and DZS which will all leverage an OB-Labs infrastructure enabled by The European Advanced Networking Test Center (EANTC), The University of New Hampshire InterOperability Laboratory (UNH-IOL) and VMware. The demonstration will take place during exhibition hours in the Broadband Forum / Open Broadband Interop Pavilion (A40). In addition, a one-hour session – “Deep Dive on OB-BAA: Managing Multi-Vendor SDN Broadband Networks” – will be hosted by Ovum Principal Analyst Julie Kunstler in the Broadband World News Theater on the exhibition floor starting at 11.15am on 16 October. Participants will include service provider TIM, access vendors Altice Labs, DZS, and Nokia, and OB-Lab enablers EANTC, UNH-IOL, and VMware.

Broadband World Forum 2019 takes place from Tuesday, October 15 to Thursday, October 17, at the RAI, Amsterdam, the Netherlands. For more information, please visit: https://tmt.knect365.com/bbwf/.

About Broadband Forum

Broadband Forum is the communications industry’s leading organization focused on accelerating broadband innovation, standards, and ecosystem development. Our passion – delivering on the promise of broadband by enabling smarter and faster broadband networks and a thriving broadband ecosystem.

Broadband Forum is an open, non-profit industry organization composed of the industry’s leading broadband operators, vendors, thought leaders who are shaping the future of broadband, and observers who closely track our progress. Its work to date has been the foundation for broadband’s global proliferation and innovation. For example, the Forum’s flagship TR-069 CPE WAN Management Protocol has nearly 1 billion installations worldwide.

Broadband Forum’s projects span across 5G, Connected Home, Cloud, and Access. Its working groups collaborate to define best practices for global networks, enable new revenue-generating service and content delivery, establish technology migration strategies, and engineer critical device, service & development management tools in the home and business IP networking infrastructure. We develop multi-service broadband packet networking specifications addressing architecture, device and service management, software data models, interoperability and certification in the broadband market.

Our free technical reports and white papers can be found at https://www.broadband-forum.org/.

Follow us on Twitter @Broadband_Forum and LinkedIn.

For more information about the Broadband Forum, please go to https://www.broadband-forum.org or follow @Broadband_Forum on Twitter. For further information please contact Brian Dolby on +44 (0) 7899 914168 or brian.dolby@proactive-pr.com or Jayne Brooks on +44 (0) 1636 704 888 or jayne.brooks@proactive-pr.com

Contacts

Brian Dolby on +44 (0) 7899 914168 or brian.dolby@proactive-pr.com or Jayne Brooks on +44 (0) 1636 704 888 or jayne.brooks@proactive-pr.com

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