TORONTO and MELBOURNE, Australia, Aug. 6, 2021 /CNW/ - BANXA (TSXV:
BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa", or the
"Company") is pleased to announce that it has filed a final
short form base shelf prospectus (the "Base Shelf
Prospectus") with the securities commissions in each of the
provinces and territories of Canada.
The Base Shelf Prospectus filings allow BANXA to make offerings
of common shares, warrants, subscription receipts, units or debt
securities, or a combination thereof, up to an aggregate total of
CDN$88.8 million during the 25-month
period that the Base Shelf Prospectus remains effective. Such
securities may be offered in amounts, at prices and on terms to be
determined based on market conditions at the time of sale and set
forth in one or more shelf prospectus supplement(s). Information
regarding the use of proceeds from a sale of such securities will
be included in the applicable prospectus supplement.
This news release shall not in any circumstances constitute an
offer to sell or a solicitation of an offer to buy, nor shall there
be any sale of these securities in any jurisdiction in which an
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the applicable securities laws
of any jurisdiction.
A copy of the Base Shelf Prospectus can be found on SEDAR
website at www.sedar.com.
BANXA ISSUES SHARES FOR SERVICES
BANXA also announces the issuance of 35,000 common shares in the
capital of the Company (the "Shares") to SRAX, Inc.
("SRAX"), at a deemed price of $4.00 per Share, as consideration for marketing
services rendered by SRAX to the Company pursuant to the terms of a
platform account agreement (the "Platform Agreement")
previously announced in the Company's press release dated
May 17, 2021. The Platform Agreement
was approved by the TSX Venture Exchange on July 6, 2017.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA"
Domenic Carosa
Chairman (+1-888-218-6863)
About BANXA
BANXA (TSX-V:BNXA – Banxa Holdings Inc.) is a
Payment Services Provider (PSP) with a mission to build the bridge
between traditional financial systems, regulation and the digital
asset space. Our goal is to onboard the general public to digital
currency by building a fully compliant payment infrastructure that
enables simple and secure conversion of fiat currency to digital
currency (USD/CAD to BTC/ETC). Banxa has offices in Australia and the
Netherlands. For further information, see www.banxa.com.
The TSX Venture Exchange has neither approved nor
disapproved the contents of this press release. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
FORWARD-LOOKING INFORMATION
Certain statements ("forward-looking statements") in
this news release may contain forward-looking information
concerning the Base Shelf Prospectus, any potential prospectus
supplement and the amount and terms of any securities to be offered
under the Base Shelf Prospectus or any shelf prospectus
supplements, plans related to the Company's business and other
matters that may occur in the future, made as of the date of this
news release. In making the forward-looking statements included in
this news release, the Company has applied several material
assumptions, including, but not limited to, the assumption that
regulatory approval of any shelf prospectus filings and related
offerings will be obtained in a timely manner; that general
economic and business conditions will not change in a materially
adverse manner; and that the Company will be able to raise
additional funds on reasonable terms and the use thereof will
proceed as planned. Although management considers these assumptions
to be reasonable based on information available to it, they may
prove to be incorrect.
Forward-looking statements are subject to a variety of known
and unknown risks, uncertainties and other factors which could
cause actual events or results to differ from those expressed or
implied by the forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements as
a number of important factors could cause the actual outcomes to
differ materially from the expectations expressed in them. Such
factors include, among others, risks related to the failure of the
Company to receive regulatory approval of any shelf prospectus
supplement filings, general market conditions, the Company's
inability to secure financing, on favourable terms, pursuant to the
Base Shelf Prospectus and any prospectus supplement, the impact of
COVID-19 on the business, operations and personnel of BANXA,
general economic and political uncertainties and the additional
risks described in the Base Shelf Prospectus and the other
disclosure documents filed by the Company on SEDAR. There can be no
assurance that forward-looking statements will prove to be accurate
and actual results and future events could differ materially from
those anticipated in such statements. The Company expressly
disclaims 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 otherwise required by
applicable securities legislation.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein in the United States. The
securities described herein have not been registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities law and may not be
offered or sold in the "United
States", as such term is defined in Regulation S promulgated
under the U.S. Securities Act, unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration requirements is available.
SOURCE Banxa Holding Inc