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Trade end status and trade update

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Toronto, ON/AccessWire/November 23, 2022 / BANXA HOLDINGS INC. (TSX-V:BNXA) (OTCQX:BNXAF) (FSE:AC00) (“Banxa” or “The Company”), the leading global Web3 on/off ramp solution, provides further update on trade close terms and general business matters .

Banksa Holdings, Thursday, November 24, 2022, Press Release Photo

The company continues to make progress with its auditor, RSM Canada, as it finalizes its audited financial statements for the fiscal year ended June 30, 2022, and will provide further updates to the market in the coming weeks. Due to the delay in the FY22 audit, the September quarterly financial report (Q1-FY23) will also be delayed. The company cannot release financial statements and an MD&A until the completion of its fiscal 2022 audit because opening balances must be confirmed.

Banxa CEO Holger Arion said: “With volatility returning to crypto markets in light of the recent FTX situation, Banksa witnessed some of its biggest trading days in the month of November this calendar year. Banxa has identified the rapid adoption of non-custodial, decentralized exchanges and platforms and has successfully integrated with several notable partners, including decentralized app ZenGo and decentralized exchange dYdX, and many more on leading Decentralized Finance (DeFi) partner integrations. do work. Paid integrations and token listings continue to contribute positively to gross profit margin, Helping the company on its way to profitability at the end of this fiscal year. ,

The company now has 11 money transmitter licenses (MTLs) in the US market, with the most recent MTL approved last week and more MTLs approved in the coming months.

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The company also wants to announce that Konstantin Lichtenwald is stepping down from his position as CFO of the listed company. The company thanks Konstantin for his valuable contribution and is pleased to announce that he will continue to serve as an advisor to the audit committee and the finance department in view of the swift completion of the audit. The company continues its search for a Group CFO and is currently interviewing for the position.

Contact

investors:

MZ North America
Brian M. Prenoveau, CFA
[email protected]
561-489-5315

Media:

watchman
Ethan Lyle
[email protected]

of the board of directors

To: “Domenic Carosa” https://twitter.com/dcarosa
Dominic Carrosa = Chairman (1-888-218-6863)

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the TSX Venture Exchange Policy) assumes responsibility for the adequacy or accuracy of this release.

Forward-Looking Information and Statements

This press release contains certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the Company’s management’s expectations or beliefs regarding future events. In general, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “estimates”, or by the use of words and phrases or variations on the statements “that may lead to certain actions, events or results.” “could,” “could,” “should,” “will” or “potentially” or “probably.” This information and these statements, referred to herein as “forward-looking statements,” are not historical facts, made as of the date of this press release, including but not limited to those relating to the completion of the audit by RSM Statements and annual filings by the filing company.

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These forward-looking statements involve a number of risks and uncertainties and actual results could differ materially from those implied by any forward-looking statement. These risks and uncertainties include, among others, risks associated with the completion of the audit by RSM within the timeframe required by management, and risks associated with the filing of annual declarations within the timeframe required by management, and risks associated with amendments . General economic, business and political conditions, including changes in financial markets, changes in applicable laws and compliance with broad government regulations, as well as risk factors discussed or referenced in the Company’s disclosure documents, are subject to scrutiny by securities regulators regulators. have been submitted to the authorities. province of Canada and available at www.sedar.com.

In making forward-looking statements in this press release, the Company has made a number of material assumptions, including but not limited to assumptions regarding RSM’s timely completion of the audit and the Company’s timely filing of annual filings. Way.

While the Company’s management has attempted to identify important factors that could cause actual results to differ materially from those in the forward-looking statements or forward-looking information, there may be other factors that could cause results to be not expected, projected or anticipated. intended . become the cause of , There can be no assurance that such statements will prove to be accurate, as actual results and future events may differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for any other purpose. Except under applicable securities laws, the Company undertakes no obligation to update any forward-looking statements, forward-looking information or financial projections, which are incorporated herein by reference. We want a safe haven.

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Source: Banksa Holdings

View the source version on Accesswire.com:

Source: www.bing.com

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