CALGARY,
AB, Nov. 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.