Credit

Axion Completes the Initial Tranche of $8 Million Under the Investment Agreement

Friday, June 11, 2021 - 10:52pm

Vancouver, British Columbia--(Newsfile Corp. - June 11, 2021) - Axion Ventures Inc. (TSXV: AXV) (OTC Pink: AXNVF) ("Axion" or the "Company") is pleased to announce that it has completed the initial tranche of C$8,000,000 (the "Initial Tranche") under the convertible debenture investment agreement (the "Investment Agreement") that the Company entered into with KUAM (Hong Kong) Investment 01 Ltd. ("KUAM") for up to C$20 million by way of unsecured convertible debentures.

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - June 11, 2021) - Axion Ventures Inc. (TSXV: AXV) (OTC Pink: AXNVF) ("Axion" or the "Company") is pleased to announce that it has completed the initial tranche of C$8,000,000 (the "Initial Tranche") under the convertible debenture investment agreement (the "Investment Agreement") that the Company entered into with KUAM (Hong Kong) Investment 01 Ltd. ("KUAM") for up to C$20 million by way of unsecured convertible debentures.
  • If KUAM converts the full amount of the Debenture, KUAM will be entitled to receive 40,000,000 common shares of the Company.
  • The Debenture and all securities of the Company issued pursuant to the closing of the Initial Tranche will be subject to a four-month hold period.
  • The Initial Tranche is the first draw-down pursuant to the Investment Agreement, which provides for further tranches for up to a total of C$20 million.

AM Best Upgrades Credit Ratings of Security Mutual Insurance Company and Pittstown Cooperative Fire Insurance Company

Friday, June 11, 2021 - 1:38pm

AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to a (Excellent) from a- (Excellent) of Security Mutual Insurance Company (Security Mutual) and Pittstown Cooperative Fire Insurance Company (Pittstown) (collectively referred to as Security Mutual Group).

Key Points: 
  • AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to a (Excellent) from a- (Excellent) of Security Mutual Insurance Company (Security Mutual) and Pittstown Cooperative Fire Insurance Company (Pittstown) (collectively referred to as Security Mutual Group).
  • The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

X Financial to Report First Quarter 2021 Financial Results on June 16, 2021

Friday, June 11, 2021 - 12:00pm

X Financial (NYSE: XYF) (the "Company") is a leading online personal finance company in China.

Key Points: 
  • X Financial (NYSE: XYF) (the "Company") is a leading online personal finance company in China.
  • The Company is committed to connecting borrowers on its platform with its institutional funding partners.
  • With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate loans to prime borrowers under a robust risk assessment and control system.

Islamic Banking Software Market to grow by $ 461.83 Mn during 2020-2024 | Rising adoption of cloud-based services to boost growth | Technavio

Friday, June 11, 2021 - 3:30am

TheIslamic banking software marketreport covers the following areas:

Key Points: 
  • TheIslamic banking software marketreport covers the following areas:
    This study identifies the rising adoption of cloud-based servicesas one of the prime trends driving the Islamic Banking Software Marketgrowth during the next few years.
  • Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.
  • Register for a free trial today and gain instant access to 17,000+ market research reports.
  • Islamic Banking Software Market 2020-2024: Key Highlights
    The growth of the Islamic banking software marketacross APAC, Europe, MEA, North America, and South America

Clarivate Announces Pricing of Offering of $1.0 Billion Senior Secured Notes and $1.0 Billion Senior Notes

Friday, June 11, 2021 - 1:34am

LONDON, June 11, 2021 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the pricing of its previously announced private offering (the "Offering") of $1.0 billion of 3.875% senior secured notes due 2028 (the "Secured Notes") and $1.0 billion of 4.875% senior notes due 2029 (the "Unsecured Notes" and, together with the Secured Notes, the "Notes").

Key Points: 
  • LONDON, June 11, 2021 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the pricing of its previously announced private offering (the "Offering") of $1.0 billion of 3.875% senior secured notes due 2028 (the "Secured Notes") and $1.0 billion of 4.875% senior notes due 2029 (the "Unsecured Notes" and, together with the Secured Notes, the "Notes").
  • The Secured Notes will mature on June 30, 2028 and the Unsecured Notes will mature on June 30, 2029.
  • The Notes will be issued by Clarivate Science Holdings Corporation (the "Issuer"), an indirect wholly-owned subsidiary of Clarivate, on June 24, 2021, subject to customary closing conditions.
  • The Secured Notes are expected to be secured on a first-lien pari passu basis with borrowings under the existing credit facilities and senior secured notes, and the Unsecured Notes will be the Issuer's and such guarantors' unsecured obligations.

Clarivate Announces Pricing of Offering of $1.0 Billion Senior Secured Notes and $1.0 Billion Senior Notes

Friday, June 11, 2021 - 1:13am

LONDON, June 10, 2021 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the pricing of its previously announced private offering (the "Offering") of $1.0 billion of 3.875% senior secured notes due 2028 (the "Secured Notes") and $1.0 billion of 4.875% senior notes due 2029 (the "Unsecured Notes" and, together with the Secured Notes, the "Notes").

Key Points: 
  • LONDON, June 10, 2021 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the pricing of its previously announced private offering (the "Offering") of $1.0 billion of 3.875% senior secured notes due 2028 (the "Secured Notes") and $1.0 billion of 4.875% senior notes due 2029 (the "Unsecured Notes" and, together with the Secured Notes, the "Notes").
  • The Secured Notes will mature on June 30, 2028 and the Unsecured Notes will mature on June 30, 2029.
  • The Notes will be issued by Clarivate Science Holdings Corporation (the "Issuer"), an indirect wholly-owned subsidiary of Clarivate, on June 24, 2021, subject to customary closing conditions.
  • The Secured Notes are expected to be secured on a first-lien pari passu basis with borrowings under the existing credit facilities and senior secured notes, and the Unsecured Notes will be the Issuer's and such guarantors' unsecured obligations.

IOU Financial Reports Results of its Annual Shareholders' Meeting

Thursday, June 10, 2021 - 10:00pm

MONTREAL, June 10, 2021 /PRNewswire/ - IOU Financial Inc. ("IOU Financial" or the "Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), today reported the results of the Annual General and Special Meeting of Shareholders held on this date (the "Meeting").

Key Points: 
  • MONTREAL, June 10, 2021 /PRNewswire/ - IOU Financial Inc. ("IOU Financial" or the "Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), today reported the results of the Annual General and Special Meeting of Shareholders held on this date (the "Meeting").
  • Wayne Pommen did not stand for re-election at the Meeting.
  • IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital to small businesses through a network of preferred brokers across the US and Canada.
  • To learn more about IOU Financial's corporate history, financial products, or to join our broker network please visit www.IOUFinancial.com .

Pancon Announces Debt Settlement and Option Grant

Thursday, June 10, 2021 - 9:30pm

The Debt Settlement remains subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

Key Points: 
  • The Debt Settlement remains subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.
  • All securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
  • A material change report will be filed not less than 21 days before the closing date of the Debt Settlement.
  • This shorter period was reasonable and necessary in the circumstances, as it was necessary for the Company to complete the Debt Settlement to immediately improve the financial position of the Company.

GoTo Loans, a rising Canadian BNPL Fintech platform, establishes a funding relationship with the asset management division of one of Canada's largest insurance companies

Thursday, June 10, 2021 - 4:07pm

Echelon Capital Markets (a member of Echelon Wealth Partners Inc.) acted as exclusive financial advisor to GoTo Loans in the arrangement of the funding facility.

Key Points: 
  • Echelon Capital Markets (a member of Echelon Wealth Partners Inc.) acted as exclusive financial advisor to GoTo Loans in the arrangement of the funding facility.
  • This funding partnership allows GoTo Loans the ability to accelerate their lending capabilities and to continue funding the rapid growth seen in their innovative payment offering.
  • GoTo Loans' accelerated growth in 2020 received recognition in the FinTech industry from the Canadian Lenders Association (CLA), being named as a Canadian Auto Lending Platform of The Year.
  • Echelon Wealth Partners Inc. is a Canadian independent wealth management and capital markets firm known for its client-centred approach and innovative, entrepreneurial spirit.

Helio Lending (a CYIOS Corp. Subsidiary) and Propy Inc. Partner to Offer First Ever Crypto Loan Utilizing NFT Real Estate Asset as Collateral

Thursday, June 10, 2021 - 2:37pm

Now, we are excited to partner with Helio Lending to make history again, as we look to facilitate the first ever NFT real estate loan collateralized by the NFT.

Key Points: 
  • Now, we are excited to partner with Helio Lending to make history again, as we look to facilitate the first ever NFT real estate loan collateralized by the NFT.
  • Real estate as an asset class will become a part of the decentralized finance economy.
  • John O'Shea, Founder of Helio Lending and Chairman of CYIOS Corp. commented, "The partnership between Propy and Helio looks to change the way you can fund real estate purchased and gain maximum diversification of your crypto assets and real estate assets.
  • Having a solution to put your real estate holdings on to a NFT and being able to get a loan against that asset is truly unique and can change the landscape of real estate.