CALGARY, Alta., November 15, 2022 /CNW/ – Katipult Technology Corp. (TSXV: FUND) (“Katipult” or the “Company”), a leading provider of Fintech software to power the exchange of capital in equity and debt markets, today announced its product, DealFlow, which supports the new Listed Issuer Financing Exemption for issuers listed on a Canadian stock exchange, designed to provide them with a more efficient means of raising capital.
The Canadian Securities Administrators have amended National Instrument 45-106 Prospectus Exemptions (NI 45-106) in effect November 21, 2022 introduce a new prospectus exemption for reporting issuers listed on a Canadian stock exchange (the Listed Issuer Financing Exemption). The exemption will allow issuers to distribute freely tradeable listed equity securities to the public for capital increases of up to $5,000,000 or 10% of the market capitalization of the issuer up to a maximum aggregate amount of $10,000,000.
“We expect an increasing number of issuers to look to this new prospectus exemption to meet their capital requirements. This is a very positive development for capital markets and will better meet the needs of issuers and investors.” said Gord Breese, CEO of Katipult. “Our DealFlow product will provide our clients with a fully automated workflow to process and streamline their transactions using Listed Issuer Funding Exemption.” Breese added.
Katipult DealFlow is a state-of-the-art solution that works as an operating system for investment capital. DealFlow enables modern, efficient workflows for retail and institutional investor participation and eliminates human error and loopholes, creating a superior experience for compliance, equity management teams, investment advisors and investors.
Katipult (www.katipult.com) is a leading, award-winning provider of software infrastructure for powering the exchange of capital in the equity and debt markets. Our solution and cloud-based solutions digitize the investment workflow by eliminating transaction redundancy, enhancing compliance, delighting investors and accelerating deal flow. Katipult offers unparalleled adaptability for regulatory compliance, asset structure, business model, and location requirements.
Regarding forward-looking statements:
Certain information in this release, including statements regarding the streamlining and automation of Red Cloud Securities’ internal processes and the growth of Katipult’s portfolio of investment brokerage clients, constitutes forward-looking statements. In making the forward-looking statements contained in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by the Company and information currently available to the Company, including, but without limitation, will continue to operate as intended, and the industry will continue to see value in the Company’s product. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements contained in this release are subject to numerous risks, uncertainties and other factors that could cause different future results. substantially from those expressed or implied by such forward-looking statements. These risk factors may include, among others, the inability to successfully manage product growth and implementation, a longer than expected sales and implementation cycle, cyber risks, cloud-based solutions, inability to continue to adapt to technological changes and new product development, dependence on key personnel, competition, intellectual property risks, economic conditions, concerns and legislation privacy, the regulatory environment, the risk associated with a change in the Company’s pricing model, the risk of defects in the Company’s solution, dependence on market growth, operational service risk, dependence on partners and delay or inability to realize the expected benefits of key account installations. Readers are cautioned, especially in these uncertain times, not to place undue reliance on forward-looking statements. The Company does not intend and 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 required by law. required.
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.
SOURCEKatipult Technology Corp.
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