VANCOUVER, British Columbia, March 31, 2016 /PRNewswire/ --
NanoStruck Technologies Inc. (the "Company" or "NanoStruck") (CSE: NSK) (OTCPink: NSKQB) (Frankfurt: 8NSK) has received conditional approval of the Canadian Securities Exchange (the "CSE") for its proposed change of business, subject to majority shareholder approval. The CSE has also approved the completion of a financing sufficient to meet working capital requirements.
The Company's Board will now seek the necessary majority shareholder approval for the change of business to become a platform for the emerging area of alternative finance known as crowdfunding and discontinue its water remediation and tailings processing business. The decision to implement the change of business has been the result of extensive in-house and external research. NanoStruck's management deems the change of business to be necessary to deliver improved shareholder returns and long-term shareholder value.
Trading of the Company's common shares will remain halted to allow dissemination of the listing statement describing the fundamental change and to obtain consents from the majority shareholders of the Company. Thereafter, the Company's common shares will resume trading under its new name, Fineqia International Inc., new CUSIP/ISIN numbers and new stock ticker symbol.
"Fineqia provides its shareholders a unique opportunity to be part of an imminent and paradigm shift in financial services," said CEO, Bundeep Singh Rangar. "Our new business based in London, the hub of global financial services, puts us in pole position in the transformation underway in debt and equity placements."
The change of business will be executed through the incorporation of a new wholly-owned U.K. subsidiary, which will operate a regulated crowdfunding platform focussed on debt instruments, specifically referred to as minibonds. The platform will allow individuals and financial institutions to discover and invest in high yield debt securities that meet U.K. crowdfunding regulatory guidelines.
According to the National Crowdfunding Association of Canada (NCFA), crowdfunding is the raising of funds through the collection of small contributions from the general public using the Internet and social media. As the industry has evolved, it has attracted institutional investors such as family offices, hedge funds and asset managers to subscribe to debt and equity products offered on crowdfunding and peer-to-peer platforms.
Based on the Massolution industry report 2015, the worldwide crowdfunding market doubled to US$34.4 billion (C$45.42 billion) from US$16.2 billion (C$21.39 billion) in 2014. The minibond industry itself is expected to be worth US$11.28 billion (C$14.89 billion) by 2017 from about US$127 million (C$167.5 million) in 2012, according to the U.K's Capita Registrars.
Fineqia's strategic focus will be to provide a platform and associated services to support security issuances and manage administration of debt securities such as minibonds. The platform will bring an issuing company's minibonds to market, by distributing and marketing minibonds to the crowd, as well as transparently highlighting the risks and objectively outlining opportunities involved.
Full disclosure will be provided in the new listing statement that will be filed on the CSE's website, as well as at http://www.sedar.com.
ABOUT THE COMPANY
NanoStruck Technologies Inc. is a Canadian company in the field of wastewater treatment and mine tailings processing. The Company's business model is based on selling water remediation plants as well as leasing out units and charging customers on a price per litre basis with a negotiated minimum payment per annum. For processing mine tailings, the value of precious metals recovered is shared with tailing site owners, on a pre-agreed basis.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAS REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company to complete the Amalgamation and Change of Business, failure to obtain sufficient financing, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws. The Company disclaims any intent or obligation to update any forward-looking statement.
SOURCE NanoStruck Technologies Inc.