IRW-PRESS: Midpoint Holdings Ltd .: Midpoint announces completion of private placement
London, United Kingdom (March 24, 2021) – Midpoint Holdings Ltd. (TSXV: MPT) (“Midpoint” or the “Company”) is pleased to announce the completion of its previously announced (February 19, 2021) private placement for $ 3,000,000 (the “Private Placement”), according to which the Company has now issued a total of 12,000,000 units (each a “Unit”) at a subscription price of $ 0.25. Each Unit consists of one common share (each a “Common Share”) and one-half non-transferable warrant to purchase one common share (each a “Warrant”) of the Company, with each whole warrant allowing the holder to purchase one additional common share of the Company (one each “Warrant Share”) for a period of two years from closing at an exercise price of $ 0.35 per Warrant Share.
The common shares now issued as part of the Units and the warrant shares issued upon exercise of the warrants are subject to a hold period of four months and one day from the closing date.
Proceeds from the proposed private placement will be used for general corporate and working capital purposes of the company.
Midpoint, based in London, UK, is an FCA authorized payment institution specializing in cross-border payments and forex trading. SMBs, overseas professionals, property owners, overseas students, individuals and anyone involved with international payments use Midpoint’s US patented platform for transparent, multi-party and multi-currency services.
Midpoint currently processes transactions in 24 currencies and is able to collect and transfer payments in over 200 countries. This highly secure platform offers clients the most cost-effective FX transactions at the mid-point of the interbank buy / sell rate, eliminating the spread and eliminating hidden costs and fees.
Midpoint Holdings Limited is listed on the TSX Venture Exchange and has a secondary listing on the Frankfurt Stock Exchange.
For more information about Midpoint please visit: https://www.midpoint.com.
Additional information is available from:
Corbin Comishin, CFO
Midpoint Holdings Limited,
505 Kootenay Street, Nelson,
British Columbia V1L 1K9, Kanada
Tel: 001 250 352 7667
David Wong, President & CEO
22-25 Portman Close, Marylebone,
London W1H 6BS, United Kingdom
Tel: 0044 20 7448 3082
The TSX Venture Exchange (the TSXV) and its regulatory bodies (referred to as the Regulation Services Provider in the TSXV Articles of Association) assume no responsibility for the adequacy or accuracy of this news release and have neither approved nor disapproved of its contents.
This press release contains certain forward-looking information within the meaning of applicable securities laws. Forward-looking information is often characterized by terms such as plan, expect, forecast, intend, believe, anticipate, estimate, possibly, will, would, potential, planned, as well as similar terms or statements according to which certain events or conditions may or will occur. These statements are only forecasts. Forward-looking information is based on the opinions and estimates of management at the time this information was made available and is subject to a number of risks and uncertainties and other factors that could cause actual events or results to differ materially from those in the forward-looking information be forecast. Readers will find a description of the risks and uncertainties Midpoint faces in the course of its business in Midpoint’s Managements Discussion & Analysis. Midpoint has no obligation to update any forward-looking information if circumstances or management’s estimates or opinions change, except as required by law. Readers are cautioned that forward-looking information is not reliable.
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