Clip Money Inc. Announces US$4,000,000 Financings
Clip Money Inc. (OTCQB: CLPMF) has secured US$4 million in financing through two separate transactions. The company raised US$3 million through a convertible note issued to Cardtronics Inc., its largest shareholder, with a 13% annual interest rate and 5-year maturity. Additionally, the company completed a US$1 million private placement of 6,876,500 common shares at CAD$0.20 per share to two insiders.
The convertible note includes flexible repayment terms at maturity, requiring at least 50% conversion to common shares at CAD$0.55 per share. Early redemption provisions include a 102% premium within three years and 101% thereafter. The proceeds will fund network expansion, customer acquisition, capital expenditures, and general corporate purposes.
Clip Money Inc. (OTCQB: CLPMF) ha ottenuto un finanziamento di 4 milioni di dollari USA tramite due operazioni distinte. La societ脿 ha raccolto 3 milioni di dollari USA attraverso una nota convertibile emessa a Cardtronics Inc., il suo maggiore azionista, con un tasso di interesse annuo del 13% e una scadenza di 5 anni. Inoltre, la societ脿 ha completato un collocamento privato da 1 milione di dollari USA di 6.876.500 azioni ordinarie a 0,20 dollari canadesi per azione a favore di due insider.
La nota convertibile prevede termini di rimborso flessibili alla scadenza, con l'obbligo di convertire almeno il 50% in azioni ordinarie a 0,55 dollari canadesi per azione. Le clausole di riscatto anticipato prevedono un premio del 102% entro tre anni e del 101% successivamente. I proventi saranno destinati all'espansione della rete, all'acquisizione di clienti, alle spese in conto capitale e a scopi aziendali generali.
Clip Money Inc. (OTCQB: CLPMF) ha asegurado un financiamiento de 4 millones de d贸lares estadounidenses mediante dos transacciones separadas. La empresa recaud贸 3 millones de d贸lares a trav茅s de una nota convertible emitida a Cardtronics Inc., su mayor accionista, con una tasa de inter茅s anual del 13% y un plazo de 5 a帽os. Adem谩s, complet贸 una colocaci贸n privada de 1 mill贸n de d贸lares de 6,876,500 acciones ordinarias a 0,20 d贸lares canadienses por acci贸n a dos insiders.
La nota convertible incluye t茅rminos flexibles de pago al vencimiento, requiriendo al menos un 50% de conversi贸n en acciones ordinarias a 0,55 d贸lares canadienses por acci贸n. Las disposiciones para el rescate anticipado contemplan una prima del 102% dentro de los primeros tres a帽os y del 101% posteriormente. Los fondos se destinar谩n a la expansi贸n de la red, adquisici贸n de clientes, gastos de capital y fines corporativos generales.
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鞝勴櫂靷眲電� 毵岅赴 鞁� 鞙犾棸頃� 靸來櫂 臁瓣贝鞚� 韽暔頃橂┌, 斓滌唽 50%毳� 欤茧嫻 CAD$0.55 臧�瓴╈溂搿� 氤错喌欤茧 鞝勴櫂頃挫暭 頃╇媹雼�. 臁瓣赴 靸來櫂 臁绊暛鞐愲姅 3雲� 鞚措偞 102% 頂勲Μ氙胳梽瓿� 攴� 鞚错泟 101% 頂勲Μ氙胳梽鞚� 鞝侅毄霅╇媹雼�. 臁半嫭 鞛愱笀鞚� 雱ろ姼鞗岉伂 頇曥灔, 瓿犼皾 頇曤炒, 鞛愲掣 歆�於� 氚� 鞚茧皹 旮办梾 氇╈爜鞐� 靷毄霅� 鞓堨爼鞛呺媹雼�.
Clip Money Inc. (OTCQB: CLPMF) a obtenu un financement de 4 millions de dollars am茅ricains par le biais de deux transactions distinctes. La soci茅t茅 a lev茅 3 millions de dollars via une note convertible 茅mise 脿 Cardtronics Inc., son principal actionnaire, avec un taux d'int茅r锚t annuel de 13% et une 茅ch茅ance de 5 ans. De plus, la soci茅t茅 a r茅alis茅 un placement priv茅 de 1 million de dollars portant sur 6 876 500 actions ordinaires au prix de 0,20 CAD par action aupr猫s de deux initi茅s.
La note convertible comprend des modalit茅s de remboursement flexibles 脿 l'茅ch茅ance, exigeant une conversion d'au moins 50% en actions ordinaires 脿 0,55 CAD par action. Les dispositions de remboursement anticip茅 pr茅voient une prime de 102% dans les trois ans, puis de 101% par la suite. Les fonds serviront 脿 l'expansion du r茅seau, 脿 l'acquisition de clients, aux d茅penses en capital et aux besoins g茅n茅raux de l'entreprise.
Clip Money Inc. (OTCQB: CLPMF) hat durch zwei getrennte Transaktionen eine Finanzierung in H枚he von 4 Millionen US-Dollar gesichert. Das Unternehmen hat 3 Millionen US-Dollar mittels einer Wandelanleihe von Cardtronics Inc., seinem gr枚脽ten Aktion盲r, aufgenommen, mit einem j盲hrlichen Zinssatz von 13% und einer Laufzeit von 5 Jahren. Zus盲tzlich wurde eine Privatplatzierung 眉ber 1 Million US-Dollar von 6.876.500 Stammaktien zu je 0,20 CAD pro Aktie an zwei Insider abgeschlossen.
Die Wandelanleihe enth盲lt flexible R眉ckzahlungsbedingungen bei F盲lligkeit, mit der Verpflichtung, mindestens 50% in Stammaktien zu je 0,55 CAD umzuwandeln. Fr眉hzeitige R眉ckkaufklauseln sehen eine Pr盲mie von 102% innerhalb von drei Jahren und 101% danach vor. Die Erl枚se dienen der Netzerweiterung, Kundengewinnung, Investitionsausgaben und allgemeinen Unternehmenszwecken.
- Secured significant US$4 million in total financing to support growth initiatives
- Strong support from largest shareholder Cardtronics demonstrates confidence in business
- Flexible repayment terms with 5-year maturity provides operational runway
- Insider participation in equity financing shows management confidence
- High 13% interest rate on convertible note indicates expensive financing terms
- Minimum 50% share conversion requirement at maturity may lead to future dilution
- Related-party transactions could raise governance concerns
- Early redemption premiums increase cost of capital if prepayment needed
TORONTO, July 18, 2025 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) (鈥�Clip Money鈥� or the 鈥淐辞尘辫补苍测鈥�), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce the closing of a non-brokered private placement of an unsecured convertible note (the 鈥�Convertible Note鈥�) for gross proceeds of US
Separately, Clip Money is also pleased to announce the closing of a non-brokered private placement of 6,876,500 common shares in the capital of the Company (鈥�Common Shares鈥�) at a price of CAD
The Convertible Note will accrue simple interest at a rate of
On the Maturity Date, payment of the principal amount of the Convertible Note then outstanding will be satisfied by the Company, at Cardtronics鈥� sole discretion, through: (i) a cash payment equal to the entirety of the principal amount of the Convertible Note then outstanding; (ii) the issuance of a number of Common Shares equal to the entirety of the principal amount of the Convertible Note then outstanding divided by CAD
On the Maturity Date, payment of all accrued and unpaid interest up to and including the Maturity Date that has not been previously satisfied by way of the quarterly interest payments will be satisfied by the Company, at Cardtronics鈥� sole discretion, through: (i) a cash payment equal to the entirety of all accrued and unpaid interest up to and including the Maturity Date; (ii) the issuance of a number of Common Shares equal to the entirety of the accrued and unpaid interest up to the Maturity Date divided by the then-prevailing market price of the Common Shares on the TSX Venture Exchange (the 鈥�TSXV鈥�), subject to prior written approval of the TSXV; or (iii) a combination of a cash payment and the issuance of Common Shares at the then prevailing market price of the Common Shares on the TSXV, subject to prior written approval of the TSXV.
Subject to the terms of the Convertible Note, if the Company redeems all or a portion of the Convertible Note prior to the three year anniversary thereof, it must pay a redemption price equal to
Subject to the terms of the Convertible Note, if the Company redeems all or a portion of the Convertible Note after the three year anniversary thereof and until the date that is one day before the Maturity Date, it must pay a redemption price equal to
The Financings represent related-party transactions under Multilateral Instrument 61-101 -聽Protection of Minority Security Holders in Special Transactions听(鈥�MI 61-101鈥�), but are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transactions nor the consideration paid exceeds
All securities to be issued in connection with the Equity Financing and the Convertible Note Financing are subject to a statutory hold period of four months plus a day from the date hereof in accordance with applicable securities legislation in Canada.
The Company intends to use the net proceeds from the Financings for network expansion and customer acquisition, new unit capital expenditures, business operations and technology and for general corporate purposes.
There was no finder鈥檚 fee paid in connection with the Financings.
EARLY WARNING DISCLOSURE REGARDING BRIAN BAILEY
In connection with closing of the Equity Financing, Brian Bailey, president and chief operating officer of Clip Money, acquired 3,438,250 Common Shares at a price of CAD
Prior to closing of the Equity Financing, Mr. Bailey beneficially owned, directly or indirectly, (i) 7,233,766 Common Shares, (ii) a convertible note in the principal amount of CAD
Following closing of the Equity Financing, Mr. Bailey will own (i) 10,672,016 Common Shares, (ii) the Convertible Note, (iii) 455,118 Warrants and (iv) 1,449,650 Options, representing approximately
The securities of Clip Money are being held by Mr. Bailey for investment purposes and Mr. Bailey will evaluate his investment in the Company from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease his shareholdings through market transactions, private agreements, or otherwise.
This news release is being issued under the early warning provisions of Canadian securities legislation. A copy of the early warning report to be filed by Mr. Bailey in connection with the transactions described above will be available on the Company鈥檚 SEDAR+ profile at . A copy of such report may also be obtained by contacting Joseph Arrage by telephone at 844-593-2547 or by email at [email protected]. The Company鈥檚 registered office is located at 333 Bay Street, Suite 3400, Toronto, Ontario, M5H 2S7.
About Clip Money Inc.
Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network 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 or ClipATM located near them. After being deposited, the funds will automatically be credited to the business鈥� 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 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 .
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Joseph Arrage
Chief Executive Officer
tel: 844-593-2547
FAQ
What is the total amount of financing secured by Clip Money (CLPMF)?
What are the key terms of CLPMF's convertible note financing?
How will Clip Money use the proceeds from the US$4M financing?
What was the price per share for CLPMF's private placement?
How did Brian Bailey's ownership in Clip Money change after the financing?
