CALGARY, AB, November 15, 2022 /CNW/ - Katipult Technology Corp. (TSXV: FUND) ("Katipult" or the "Corporation"), a leading Fintech provider of software for powering the exchange of capital in equity and debt markets, announced today its product, DealFlow, supports the newly introduced Listed Issuer Financing Exemption for issuers listed on a Canadian stock exchange, aimed at providing a more efficient way for them to raise capital.
The Canadian Securities Administrators have amended the National Instrument 45-106 Prospectus Exemptions (NI 45-106) effective November 21, 2022 to introduce a new prospectus exemption available to reporting issuers that are 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 raises up to either $5,000,000 or 10% of the issuer's market capitalization to a maximum total dollar amount of $10,000,000.
“We expect a growing number of issuers will look to this new prospectus exemption to meet their capital requirements. This is a very positive development for the capital markets and will better support the needs for both issuers and investors.” said Gord Breese, Katipult CEO. “Our DealFlow product will provide our customers a fully automated workflow to process and streamline their deals using the Listed Issuer Financing Exemption.” added Breese.
Katipult DealFlow is an industry-leading solution that functions as the operating system for investment capital. DealFlow enables modern and efficient workflows for retail and institutional investor participation and eliminates human error and deficiencies, creating a superior experience for compliance, equity capital management teams, investment advisors, and investors.
About Katipult
Katipult (www.katipult.com) is a provider of industry leading and award-winning software infrastructure for powering the exchange of capital in equity and debt markets. Our cloud-based solution and solutions digitize investment workflow by eliminating transaction redundancy, strengthening compliance, delighting investors, and accelerating deal flow. Katipult provides unparalleled adaptability for regulatory compliance, asset structure, business model, and localization requirements.
Regarding Forward Looking Statements:
Certain disclosure in this release, including statements regarding the streamlining and automation of internal processes at Red Cloud Securities and the growth of Katipult's portfolio of investment dealer customers constitute forward-looking statements. In making the forward-looking statements in this release, the Corporation has applied certain factors and assumptions that are based on the Corporation's current beliefs as well as assumptions made by and information currently available to the Corporation, including, but not limited to, the Corporation's product will continue to operate as expected, and the industry will continue to see value in the Corporation's product. Although the Corporation considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, failure to manage growth and product implementation successfully, lengthier than anticipated sales and implementation cycle, cyber risks, risks related to cloud based solutions, failure to continue to adapt to technological change and new product development, dependence on key personnel, competition, intellectual property risks, economic conditions, privacy concerns and legislation, regulatory environment, risk associated with a change in the Corporation's pricing model, risk of defects in the Corporation's solution, dependence on market growth, operational service risk, dependence on partners and delay or failure to realize anticipated benefits of key account installations. Readers are cautioned, especially in these uncertain times, not to place undue reliance on forward-looking statements. The Corporation does not intend to, 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.
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 Katipult Technology Corp.
For further information: Katipult Technology Corp., Gord Breese, CEO, gbreese@katipult.com, +1 (604) 760-4000
