FinTech Ventures Fund, LLLP Acquires Shares of IOU Financial Inc.

ATLANTA, Dec. 3, 2020 /CNW Telbec/ - FinTech Ventures Fund, LLLP ("FinTech"), announces that, in connection with a previously announced private placement, it has acquired ownership of 2,343,967 common shares ("Common Shares") of IOU Financial Inc. (TSXV: IOU) ("IOU"). The Common Shares acquired represent approximately 2.2% of the issued and outstanding Common Shares of IOU.

Prior to the transaction, FinTech owned 11,248,704 Common Shares, representing approximately 13% of IOU's then issued and outstanding Common Shares. Immediately after the transaction, FinTech directly owns 13,592,671 Common Shares, representing 13% of IOU's issued and outstanding Common Shares.

As a significant shareholder of IOU, FinTech will review and monitor its options and alternatives with respect to additional acquisitions of Common Shares in light of all relevant factors from time to time, including general market conditions, prevailing market prices for the Common Shares, the business and prospects of IOU and alternative investment opportunities available to FinTech. FinTech may explore opportunities to acquire additional Common Shares in the open market, through negotiated or private transactions or otherwise, in each case on such terms and at such times as FinTech may deem advisable and in accordance with all applicable securities laws. In the future, FinTech may cease to explore such opportunities to acquire additional Common Shares, terminate or temporarily suspend any acquisition activities in which it may be engaged or may dispose of Common Shares at any time and from time to time in the open market, through negotiated or private transactions or otherwise, in each case on such terms and at such times as FinTech may deem advisable.

The head office address of IOU is 1670 - 1 Place Ville Marie, Montréal, Québec H3B 2B6.

An Early Warning Report respecting this transaction will be filed on the System for Electronic Document Analysis and Review (SEDAR) under IOU's profile and can be viewed at www.sedar.com.

SOURCE FinTech Ventures Fund, LLLP

ON BEHALF OF FINTECH VENTURES FUND, LLLP: Serguei Kouzmine, Manager, Fintech Ventures Capital, LLC, General Partner to FinTech Ventures Fund, LLLP, [phone]