Vancouver, British Columbia – (Newsfile Corp. – November 1, 2021) – Canadian Nexus Team Ventures Corp., (CSE: TEAM) (“Canadian Nexus”, “the Company” or “THE TEAM”) is pleased to provide an update on its investment portfolio and operational changes.
AgriFORCE Growing Systems Ltd.(“Agri”) is an AgTech company focused on the development and acquisition of agricultural intellectual property that is changing the way the cultivation and processing of plants is carried out to provide food, pharmaceuticals, nutraceuticals, products and ingredients based on more durable and better quality plants. Agri successfully went public on the Nasdaq under the symbol AGRI on July 8, 2021. TEAM currently holds 578,296 common shares and 317,243 warrants exercisable at US $ 9.50 expiring on May 20, 2024.
Minehub Technologies Inc. (âMinhubâ) is an emerging tech company that harnesses technologies, including blockchain, to develop a new generation of business applications. Minehub began trading on the TSX Venture Exchange on September 7, 2021. TEAM currently holds 450,000 shares which are escrowed in accordance with the requirements of the TSX Venture Exchange. Minehub also repaid a loan of $ 250,000 plus interest on September 24, 2021. The total received, including interest, was $ 306,712.33.
Abaxx Technologies Inc. (âAbaxxâ) is a developing-stage financial software company that has created a proprietary technology infrastructure for global commodity exchanges and digital markets. TEAM currently holds 230,000 shares, out of its initial holdings of 625,000 shares purchased at $ 0.40 per share on March 29, 2018.
Quisitive Technology Solutions Inc. (âQuisitiveâ) is a leading global Microsoft partner that leverages the Microsoft platform and complementary technologies, including customized solutions and proprietary offerings, to drive transformational impact for business customers. TEAM currently holds 178,000 shares, out of its original holdings of 428,571 units purchased at $ 0.35 per unit on April 27, 2018.
FansUnite Entertainment Inc. (“Fans”) is a sports and entertainment company specializing in technology related to regulated and legal online sports betting and other related products. The main activity is to operate the FansUnite Sportsbook and the McBookie website. TEAM currently holds 95,000 shares, out of its initial holdings of 800,000 shares purchased on April 29, 2018 at a price of $ 0.25 per share.
iComply Investor Services Inc. (âiComplyâ) is a RegTech company offering compliance software for decentralized financial markets. iComply is always private; their last round of financing was completed on January 15, 2020, at $ 1.55 with approximately 63,920,000 shares outstanding. Brand X owns 166,666 shares on an investment of $ 249,999.
Research and development Silota inc. (“Silote”) on April 12, 2018, the Company acquired 238,500 common shares of Silota for a cash consideration of $ 24. In addition, the Company issued a $ 300,000 non-interest bearing convertible note to Silota, maturing five years from the date of issue, and convertible into common shares at a discount of 18%. Pursuant to the share purchase agreement dated September 9, 2021, the Company will sell its interest under the following terms:
$ 300,000, to be paid in two equal installments of $ 150,000, one installment on the closing date of the transaction and one installment on December 22, 2021; and the transfer of 200,000 common shares of GameOn Entertainment Technologies Inc. to the Company, the common shares will have a holding period until June 1, 2022.
Magnum Gold Corp. (“Magnum”) is developing the LH property located east of Slocan Lake, approximately 7.0 km south of the village of Silverton, in the Slocan mining division, in southeastern British Columbia. TEAM purchased 2,000,000 units at $ 0.05 per unit (each unit consisting of one common share and one warrant at $ 0.10) on October 7, 2021.
Cleantek Industries Inc. (“Cleantek”) is a clean energy technology company focused on water sustainability with operations across North America. Cleantek has developed and marketed its patented wastewater dewatering technology, the ZeroE, which it leases to its customers for use in gas processing facilities and on drilling platforms. TEAM invested $ 99,998.50 for 57,142 subscription receipts (each subscription will be converted into one common share and one half warrant at $ 2.25) on September 3rd, 2021.
AuRista exploration. (“AURS”) is a Jr Gold Exploration company focused on the Urban Barry mining district in Quebec Canada. The strategic position of the land is at an early stage but prospective; AURS management team has completed an IP program and will look to drill in the first half of 2022 after their highly anticipated IPO. TEAM acquired the property and participated in the creation of AURS and currently holds 4,000,000 shares.
Hospitality Inc. (“WTH”) wooden table is a well-thought-out, brand-driven division of TEAM led by highly skilled and seasoned hospitality industry veterans. With its first acquisition of Gringo Restaurants, the multi-year vision of compound growth has begun. Over the next few weeks, it is expected that the WTH will close its second Gringo location, complementing the original historic Gastown (Vancouver) location. WTH is 100% owned by TEAM with the acquisition below.
Canadian Nexus changed its listener from DMCL to MNP effective October 5e, 2021.
The Company also granted 350,000 options at $ 0.14 vested over time to various employees and directors.
Update on the public tender offer (âNCIBâ), at the time of publication of this press release, TEAM has repurchased a total of 578,000 shares. TEAM will continue with the public tender offer until it reaches a total of 2.59 million common shares, as previously disclosed in the press release of April 30, 2021.
Canadian Nexus announces that its Board of Directors has adopted an amended and updated investment policy (the âInvestment Policyâ) which governs its investment activities and investment strategy. The investment policy provides the Company with additional flexibility to invest in emerging growth companies at an early or intermediate stage. The Company will continue to seek high growth opportunities in various sectors including mining, emerging technologies, media and the hospitality industry.
A copy of the Investment Policy will be posted on the Company’s SEDAR profile at www.sedar.com.
About Canadian Nexus Team Ventures Corp.
Canadian Nexus (CSE: TEAM) is an investment issuer that actively invests in a diversified portfolio of start-up to mid-level companies and projects. Canadian Nexus leverages its extensive network of global operators and thought leaders to provide investors with a unique portfolio of multiple opportunities. From time to time, the company may acquire or dispose of shares in the open market. The company is deploying a strategy of organic creation of positive cash flow companies with the aim of redeploying this non-dilutive captive in high growth sectors as defined in the investment policy of the company which is located on Sedar under Canadian Nexus Team Ventures Ltd.
This press release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements“) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, statements as to timing, consideration and completion of the joint venture are forward-looking statements. While the Company believes such statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Often, but not always, forward-looking information may be identified by words such as “pro forma “,” plans “,” expects “,” will “,” may “,” should “,” budget “,” planned “,” estimates “,” plans “,” intends to “, “Anticipates”, “believes”, “possible” or variations of these words, including variations thereof, and sentences that refer to certain actions, events or results which may, could, could, could or will occur or be taken or obtained. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the Company to differ materially from future results, performance or achievements expressed or implied by forward-looking statements. These risks and other factors include, but are not limited to, statements regarding the completion of the Acquisition, anticipated business plans and the timing of the Company’s future activities, including the Acquisition, the Company’s ability to obtain a sufficient funding to fund its business activities and plans, delays in obtaining regulatory approvals (including from the Canadian Securities Exchange), changes in laws, regulations and policies affecting the operations of the Company and the ‘Limited operating history of the Company.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update any forward-looking statements contained in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
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