CLIP MONEY INC. COMMENCES TRADING ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL “CLIP”
Toronto, Ontario, May 26, 2022 – Clip Money Inc. (formerly 13842053 Canada Corp.) (“Clip Money”, or the “Company”) is pleased to announce that its common shares will commence trading today on the TSX Venture Exchange (the “TSXV”) under the ticker symbol “CLIP”.
On May 20, 2022, the former Clip Money Inc. (the “Former Clip Money”) completed a “reverse takeover” (the “RTO”) of 13842053 Canada Corp. (“138”). In furtherance of the RTO, Former Clip Money and 138 amalgamated under the federal laws of Canada pursuant to an amalgamation agreement dated May 20, 2022. The amalgamated entity continued under the name “Clip Money Inc.”
“The listing of our shares on the TSX Venture Exchange is an important milestone in our growth as a company,” said Joe Arrage, CEO and Co-Founder of Clip Money. “We believe the listing will allow us to gain exposure to a broad investor community and diversify our shareholder base. I would like to thank our employees, management team, directors and our many contributors for making this listing a reality for Clip Money. This is a significant step that will assist us in achieving our mission to provide improved banking services for businesses across Canada and the U.S., and ultimately enhance long-term value for shareholders.”
About Clip Money
Clip Money operates a multi-bank self-service deposit system for businesses through its ClipDrop Boxes that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box located near them. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. Clip Money combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business banking transactions. Combined with mobile user applications, Clip Money offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States.
For more information, please contact:
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the plans, intentions, beliefs and current expectations of Clip Money with respect to future business activities and operating performance. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking statements are not based on historical facts but instead Clip Money management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Clip Money believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Clip Money. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the potential impact of the announcement or consummation of the RTO and listing on the TSXV on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and other risk factors set out in the Listing Application statement. These forward-looking statements may be affected by risks and uncertainties in the business of Clip Money and general market conditions, including COVID-19.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Clip Money has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. Clip Money does not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
The TSX Venture Exchange has in no way passed upon the merits of the RTO and has neither approved nor disapproved the contents of this press release.
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.