Katipult Announces November 2017 Listing & Blockchain Integration

VANCOUVER, Nov. 15, 2017 /CNW/ - Katipult Technology Corp. ("Katipult" or the "Company), an industry leading and award winning fintech company, is pleased to announce that it has received final approval for listing on the TSX Venture Exchange ("TSXV"). The common shares of Katipult will commence trading on the TSXV effective November 15 under the symbol FUND. At the time of listing, the Company expects to have net funds available in excess of CAD $1.6 million to fund its growth strategy over the next 12 months on the basis set out in the Company's Prospectus. In addition, the Company expects to receive a cash inflow of $520,000 from the exercise of warrants issued in its April private placement. The holders of the warrants are contractually obligated to exercise the warrants within 6 months of the Listing.

Katipult is a financial technology company offering a cloud-based software infrastructure that allows firms to design, set up and operate their own branded investment platform offering debt, equity and other instruments to various types of investors. The platform automates many components of investor and investment management including components of financial transactions, investment marketing, and payments such as dividends or interest. Katipult charges monthly for its product which is delivered via the cloud as a managed service, creating a stable and predictable revenue stream. Katipult has posted growing revenues and profitable operations in what the Company describes as its market validation period. With the secured funding the Company intends to aggressively pursue a high-growth sales strategy. For further details of the Company's business, please refer to the Company's final prospectus dated October 27, 2017 which is available on the Company's SEDAR profile at www.sedar.com.

"Over the past several years, the market opportunity for an intricate investment platform that is able to handle the intimacies and nuances of private capital-raising has been validated to the Katipult team, not only by customers but by investors as well," said Brock Murray, CEO of Katipult. "Through the use of our proprietary platform, companies have been able to quickly and easily raise the capital they need within highly regulated environments. With Katipult having secured the funding we need, we are confident that we can quickly grow our status in this rapidly growing segment of the Fintech market."

In addition, the Company is pleased to announce that its internal development team is actively integrating blockchain technology into its online investment platform. Through the integration of blockchain technology, Katipult clients will be able to offer tradeable securities, introduce smart contracts, and automate clearing and settlement for transactions at a much faster rate while ensuring both the security of payments and regulatory requirements.

"Blockchain entails a very natural and logical fit for our company as the strengths of the technology apply directly to our clients in private capital markets. We consistently seek out ways to improve both our product and client experience," continued Mr. Murray. "Trust is a necessary component to the market; and the technology of blockchain is structured in such a way that it is unforgeable and inherently trustworthy so we expect it to improve the experience for all parties involved.

Katipult expects the integration of blockchain into its platform by the second quarter of 2018.

Investor Relations

The Company is also pleased to announce that it has retained Virtus Advisory Group Inc. ("Virtus") to provide investor relations services to increase general market awareness in the investment community. Under the terms of Virtus' engagement (the "IR Engagement"), Katipult has agreed to pay Virtus a monthly service fee of $6,500 and to issue 150,000 options (the "IR Options") to Virtus with an exercise price of $0.20 at closing of the Transaction. The IR Options will vest in equal portions over 12 months from the grant date. The grant of IR Options is subject to the approval by the Company's Board of Directors and the TSX Venture Exchange.

Board of Directors

In addition to Brock Murray (CEO) and Pheak Meas (CPO), the following individuals form the Company's board of directors, serving as Independent Directors:

Marcus Shapiro – Chairman

Mr. Shapiro qualified as an English solicitor and practiced corporate law in the United Kingdom for one of London's leading commercial law firms before pursuing a 25-year career in investment banking. He is a seasoned corporate finance practitioner, working at Board level for Charterhouse Bank Limited and CCF Charterhouse Corporate Finance Limited and as a Director of HSBC Investment Bank, advising a range of public and private corporations on capital markets issues, corporate strategy and Mergers & Acquisitions in London and New York. In 2001, he Co-Founded and acted as Managing Director of Amethyst Corporate Finance PLC, a London-headquartered boutique advisory firm focused on mid market M&A advisory work. In 2014, he immigrated to Canada where he has pursued a plural career combining voluntary work with private sector engagements and investments; among his roles he has served on the Advisory Boards of Bit Stew Systems, Inc. and Stanton House Limited, acted as a Trustee of West Vancouver Memorial Library and served as a Director of the West Vancouver Memorial Library Foundation.

Mr. Shapiro is a member of the Company's Audit Committee and Compensation and Governance Committee.

Jeff Dawson – Director

Jeff Dawson has been the Chief Financial Officer of Academic Partnerships since August 2016. Prior to joining Academic Partnerships, Mr. Dawson spent more than eight years with Match Group (NASDAQ:MTCH) where he held multiple leadership positions including CFO, Dating, VP Finance and Director of Finance. His prior experience also includes ten years of leadership experience with American Airlines, Airband Communications, and PriceWaterhouseCoopers. Mr. Dawson brings experience in financial planning and analysis, accounting, mergers and acquisitions, customer acquisition, customer retention and analytics. Mr. Dawson holds a Master of Business Administration with a specialization in Finance/Financial Consulting from Southern Methodist University's Cox School of Business, and a Bachelor of Business Administration with a concentration in Finance from the University of Texas at Austin.

Mr. Dawson is a member of the Company's Audit Committee (Chair).

David Jaques – Director

David Jaques has held senior financial positions in banking, corporate and venture capital. In his early career, he held various positions with Barclays Bank in London and provided advisory services in currency and interest rate risk management to the bank's corporate clients. He held a similar role at Barclays Bank, New York from 1988 to 1993. He was Senior Vice President and Treasurer of Silicon Valley Bank between 1994 and 1999; founding CFO for PayPal from 1999 to 2001 and CFO of BlueRun Ventures from 2001 to 2008. Since 2008 he has provided CFO consulting services with Greenough Consulting Group and has held board position at UBL Interactive, Inc., Mobivity Holdings, Inc., Bluedot Interactive, Inc. and Digitzs Solutions, Inc. Mr. Jaques holds a Higher National Diploma in Business Administration from Polytechnic of the South Bank, London, and is a UK Chartered Certified Accountant (inactive).

Mr. Jaques is a member of the Company's Audit Committee and the Compensation and Governance Committee (Chair).

Paul Sun – Director

Paul Sun has over 20 years of business experience and has held numerous senior roles at investment banks including Scotia Capital, Desjardins, and Beacon Securities. Paul has provided financial solutions from small start-ups to billion dollar market-cap companies and has been involved in many transactions across the entire capital structure. He has built an extensive investor network and is a trusted advisor. He has also held project and operations management positions at a number of private and publicly traded companies. Paul is acting CFO of Draganfly Innovations Inc. and sits on the board of Global Gardens Group (TSXV:VGM). He was awarded his Bachelor of Applied Science and Engineering from The University of Toronto and his Master of Business Administration from the Schulich School of Business. He holds the Professional Engineer and Certified Financial Analyst designations. Paul is as passionate about the markets as he is about innovation.

Mr. Sun is a member of the Company's Audit Committee and Compensation and Governance Committee.

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.

Forward-Looking Statement:

Cautionary Note Regarding Forward Looking Statements:  Certain disclosure in this release, including statements regarding anticipated cash needs, the cash proceeds to be received from the exercise of the warrants,and the implementation of blockchain technology into the Company's software constitute forward-looking statements.  In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including the Company's anticipated cash needs, that the cash available to the Company is as expected, that the warrants will be exercised in accordance with their terms, and that the Company will successfully implement blockchain technology into its software.  Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this releaseare subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements.  Such risk factors may include, among others, the risk that cash available to the Company is not as expected, the warrants will not be exercised in accordance with their terms and the Company will not successfully implement blockchain technology into its software in the time expected or at all.   Readers are cautioned not to place undue reliance on forward-looking statements.  The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Katipult Technology Corp.

Katipult Technology Corp., Brock Murray, CEO, [email protected], 587-393-3981; Virtus Advisory Group Inc., Investor Relations, [email protected], 416-644-5081