Clip Money Inc. Announces Completion of Continuance into Ontario
2024年7月12日 - 6:56AM
Clip Money Inc. (TSX-V: CLIP) (OTCQB:CLPMF) (“
Clip
Money” or the
“Company”), a company that
operates a multi-bank self-service deposit system for businesses,
is pleased to announce that it has completed the continuance of the
Company (the “
Continuance”) from the jurisdiction
of Canada under the Canada Business Corporations Act into the
jurisdiction of Ontario under the Business Corporations Act
(Ontario). Under the Canada Business Corporations Act, at least 25%
of the directors of the Company were required to be resident
Canadians. The Business Corporations Act (Ontario) does not impose
any residency requirements for directors. Given the Company’s
increasingly diversified activities and in order to provide the
Company with the flexibility to attract and nominate the most
suitable candidates for directors from a global talent pool, the
Company believes that it was in its best interest to continue into
Ontario.
The Continuance was
previously approved by the Company’s shareholders at the annual
general and special meeting of the shareholders of the Company held
on June 24, 2024. Accordingly, effective July 4, 2024, Clip Money
has continued into Ontario under the Business Corporations Act
(Ontario) and new articles of continuance and by-laws of the
Company have replaced the existing articles of incorporation and
by-laws. The full text of the new articles of continuance are
available on SEDAR+ under Clip Money’s profile at
www.sedarplus.ca.
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.
About Clip Money Inc.
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. The Company 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
about the Company, visit www.clipmoney.com.
For further information, please contact:
Joseph ArrageChief Executive Officertel: 844-593-2547