Lynx Global Completes Acquisition of a Controlling Interest in Arkin
Vancouver, British Columbia--(Newsfile Corp. - May 3, 2021) - Lynx Global Digital Finance Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) ("Lynx" or the "Company") is pleased to announce that on April 30, 2021, it formally closed the acquisition of a 51% equity interest of Australia based, Arkin Technologies Pty Ltd. ("Arkin"), (the "Transaction"). The Company issued an aggregate of 1,114,364 common shares of the Company (the "Consideration Shares") and 250,000 share purchase warrants (the "Consideration Warrants") entitling acquisition of an additional 250,000 common shares of the Company ("Shares"), at a price per Share of $1.17 in exchange for a 51% equity interest in the issued and outstanding common shares of Arkin. The Consideration Warrants are exercisable for a period of two years from the Closing Date.
The Consideration Shares and any Shares issued upon exercise of the Consideration Warrants are subject to regulatory and voluntary pooling restrictions on resale in the following aggregate amounts until the following dates: (a) 70% of the Consideration Shares and any Shares issued upon exercise of the Consideration Warrants, shall be subject to restrictions on resale until the date which is four months plus one day from the Closing Date; (b) an additional 10% of the Consideration Shares and an additional 10% of any Shares issued upon exercise of the Consideration Warrants, shall be subject to restrictions on resale until the date which is one-hundred fifty (150) days from the Closing Date; (c) an additional 10% of the Consideration Shares and an additional 10% of any Shares issued upon exercise of the Consideration Warrants, shall be subject to restrictions on resale until the date which is one-hundred eighty (180) days from the Closing Date; and (d) an additional 10% of the Consideration Shares and an additional 10% of any Shares issued upon exercise of the Consideration Warrants, shall be subject to restrictions on resale until the date which is two-hundred ten (210) days from the Closing Date. 100% of the Consideration Shares and any Shares issued upon exercise of the Consideration Warrants will also be subject to a statutory hold period of four months and one day. In connection with the Acquisition, the Company issued a Finder's Fee equal to 7.5% of the Consideration Shares (the "Finder's Fee"), such shares being subject to the same resale restrictions as the Consideration Shares as set out above.
The Acquisition does not constitute a fundamental change for the Company and does not result in a change of control of the Company (within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange). The Consideration Shares are not registered under the US Securities Act of 1933, as amended, or any state securities laws.
Arkin is an Australian Transaction Reports and Analysis Centre (AUSTRAC) registered holder of a Digital Currency Exchange Service Provider and Remittance License in Australia. It provides Lynx Global with the capability to operate as a licensed digital currency business active in the exchange and trade of cash for digital (crypto) currency, and/or digital (crypto) currency for cash (FIAT) (whether in Australian dollars or in other foreign currency options). Services can be offered domestically in Australia, but may also be through the integrated international remittance and cryptocurrency trading network infrastructure that the Company is presently establishing in the ASEAN and Oceania region.
ABOUT LYNX DIGITAL GLOBAL FINANCE:
Lynx seeks to become a leader in financial technology, solutions, and services for large-scale merchants, financial institutions, and other B2B industry partners by way of integration to the Lynx digital payment platform. The Company's payment solutions are powered by a broad suite of payment technologies and services. The Company has targeted banking and fintech relationships SouthEast Asia and Oceania a region with a population of greater than. By working with selected banking and/or licensed EMI partners the Company will be able to offer a digital payment platform with a full suite of payment solutions which may include merchant acquiring solutions; card issuing; remittance and forex; custodial digital asset services; including including digital wallet services. The Company seeks organic growth while investigating potential strategic acquisitions, that may contribute critical technology applications, additional services and revenue streams that can complement or enhance existing offerings and potentially increase or expedite the path to future profitability. While Lynx believes that significant near-term opportunities exist for the Company's strategic initiatives, there can be no assurance that goals and objectives will be reached or that any such underlying efforts or agreements will provide successful or positive outcomes should they be implemented.
For more information, please contact:
Michael Penner, CEO
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The securities referred to herein will not be 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 an applicable exemption from registration requirements.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", or variations of such words and phrases or statements that certain actions, events, or results "will" occur. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lynx and Arkin to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures, other costs, or implied future forecasts. The Company further again cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information. Lynx will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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