TORONTO, May 26, 2022
/CNW/ - Clip Money Inc. (formerly 13842053 Canada Corp.) ("Clip
Money", or the "Company") is pleased to announce that
its common shares will commence trading today on the TSX Venture
Exchange (the "TSXV") under the ticker symbol "CLIP".
On May 20, 2022, the former Clip
Money Inc. (the "Former Clip Money") completed
a "reverse takeover" (the "RTO") of 13842053 Canada
Corp. ("138"). In furtherance of the RTO, Former Clip Money
and 138 amalgamated under the federal laws of Canada pursuant to an amalgamation agreement
dated May 20, 2022. The amalgamated
entity continued under the name "Clip Money Inc."
"The listing of our shares on the TSX Venture Exchange is an
important milestone in our growth as a company," said
Joe Arrage, CEO and Co-Founder of
Clip Money. "We believe the listing will allow us to gain
exposure to a broad investor community and diversify our
shareholder base. I would like to thank our employees,
management team, directors and our many contributors for making
this listing a reality for Clip Money. This is a significant step
that will assist us in achieving our mission to provide
improved banking services for businesses across
Canada and the U.S., and
ultimately enhance long-term value for shareholders."
About Clip Money
Clip Money operates a multi-bank self-service deposit system for
businesses through its ClipDrop Boxes that gives users the
capability of making deposits outside of their bank branch at top
retailers and shopping malls. Rather than having to go to their
personal bank branch or using a cash pickup service, businesses can
deposit their cash at any ClipDrop Box located near them. After
being deposited, the funds will automatically be credited to the
business' bank account, usually within one business day. Clip Money
combines functional hardware, an intuitive mobile app and an
innovative cloud-based transaction engine that maximizes business
banking transactions. Combined with mobile user applications, Clip
Money offers a cost-effective and convenient solution for business
banking deposits in metropolitan statistical areas across
Canada and the United States.
Cautionary Note Regarding
Forward-Looking Information
This press release contains statements which constitute
"forward-looking statements" and "forward-looking information"
within the meaning of applicable securities laws (collectively,
"forward-looking statements"), including statements regarding the
plans, intentions, beliefs and current expectations of Clip Money
with respect to future business activities and operating
performance. Forward-looking statements are often identified by the
words "may", "would", "could", "should", "will", "intend", "plan",
"anticipate", "believe", "estimate", "expect" or similar
expressions and includes information regarding expectations for
other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking statements are not
based on historical facts but instead Clip Money management's
expectations, estimates or projections concerning future results or
events based on the opinions, assumptions and estimates of
management considered reasonable at the date the statements are
made. Although Clip Money believes that the expectations reflected
in such forward-looking statements are reasonable, such statements
involve risks and uncertainties, and undue reliance should not be
placed thereon, as unknown or unpredictable factors could have
material adverse effects on future results, performance or
achievements of the Clip Money. Among the key factors that could
cause actual results to differ materially from those projected in
the forward-looking statements are the following: the potential
impact of the announcement or consummation of the RTO and listing
on the TSXV on relationships, including with regulatory bodies,
employees, suppliers, customers and competitors; changes in general
economic, business and political conditions, including changes in
the financial markets; changes in applicable laws and regulations
both locally and in foreign jurisdictions; compliance with
extensive government regulation; the risks and uncertainties
associated with foreign markets; and other risk factors set out in
the Listing Application statement. These forward-looking statements
may be affected by risks and uncertainties in the business of Clip
Money and general market conditions, including COVID-19.
Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking statements
prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed,
estimated or expected. Although Clip Money has attempted to
identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended and
such changes could be material. Clip Money does not intend, and do
not assume any obligation, to update the forward-looking statements
except as otherwise required by applicable law.
The TSX Venture Exchange has in no way passed upon the merits of
the RTO 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.
SOURCE Clip Money Inc.