Vancouver, British Columbia--(Newsfile Corp. - November 1, 2021) - Canadian Nexus Team Ventures Corp., (CSE: TEAM) ("Canadian Nexus", "the Company" or "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 developing and acquiring agriculture IP that changes the way plant cultivation and processing is done to provide more sustainable and better quality food, pharmaceuticals, nutraceuticals, plant-based products and ingredients. 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 USD $9.50 with expiry on May 20, 2024.
Minehub Technologies Inc. ("Minhub") is an emerging technology company leveraging technologies, including blockchain, to develop a new generation of cost-saving applications. Minehub started trading on the TSX Venture on September 7, 2021. TEAM currently holds 450,000 shares which are Escrowed as per the TSX Venture requirements. Minehub also repaid back a loan of $250,000 plus interest on September 24, 2021. The total received including interest was $306,712.33.
Abaxx Technologies Inc. ("Abaxx") is a development-stage financial software company that has created proprietary technological infrastructure for both global commodity exchanges and digital marketplaces. TEAM currently owns 230,000 shares, from its original holdings of 625,000 shares purchased at $0.40 per share on March 29, 2018.
Quisitive Technology Solutions Inc. ("Quisitive") is a premier, global Microsoft partner that harnesses the Microsoft platform and complementary technologies, including custom solutions and first party offerings, to generate transformational impact for enterprise customers. TEAM currently owns 178,000 shares, from 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, focusing on technology related to regulated and lawful online sports betting and other related products. The principal business is operating the FansUnite Sportsbook and the McBookie website. TEAM currently owns 95,000 shares, from its original holdings of 800,000 shares purchased April 29, 2018 at $0.25 per share.
iComply Investor Services Inc. ("iComply") is a RegTech company offering compliance software for decentralized financial markets. iComply is still private; their last round of financing was completed on January 15th, 2020, at $1.55 with approximately 6,3920,000 shares outstanding. Brand X owns 166,666 shares from a $249,999 investment.
Silota Research and Development Inc. ("Silota") on April 12, 2018, the Company acquired 238,500 common shares of Silota for cash consideration of $24. In addition, the Company issued a $300,000 non-interest-bearing convertible note to Silota, due five years from the date of issuance, and convertible into common shares at an 18% discount. Pursuant to the share purchase agreement dated September 9, 2021, the Company will sell its interest based on the following terms:
$300,000, to be paid in two equal payments of $150,000, one payment at the closing date of the transaction and one payment on December 22, 2021; and the transfer of 200,000 common shares in GameOn Entertainment Technologies Inc. to the Company the common shares will have a hold period till June 1, 2022.
New investments:
Magnum Gold Corp. ("Magnum") is developing the LH Property located on east of Slocan Lake approximately 7.0 km south of the village of Silverton, in the Slocan Mining Division of southeastern British Columbia. TEAM purchased 2,000,000 units at $0.05 per unit (each unit consisting of one common share and one purchase warrant at $0.10) on October 7, 2021.
Cleantek Industries Inc. ("Cleantek") is a clean energy technology company focused on hydrosustainability with operations across North America. Cleantek has developed and commercialized its patented wastewater dehydration technology, the ZeroE, which it rents to its customers for use at gas processing facilities and on drilling rigs. TEAM invested $99,998.50 for 57,142 subscription receipts (each subscription will convert into one common share and one-half purchase warrant at $2.25) on September 3rd, 2021.
AuRista Exploraration. ("AURS") is Jr Gold Exploration company focused on the Urban Barry Mining district in Quebec Canada. The strategic land position is early stage but prospective; the management TEAM of AURS completed an IP program and will be looking to drill in the first half of 2022 after their highly anticipated IPO. TEAM acquired the property and help create AURS and currently owns 4,000,000 shares.
Wooden Table Hospitality Inc. ("WTH") is well thought out brand focused division of TEAM run by highly skilled and seasoned veterans from the hospitality industry. Through its first acquisition of Gringo Restaurants the multiyear vision of compounded growth has commenced. In coming weeks, it is anticipated the WTH will close on its second Gringo location complimenting the original historic Gastown (Vancouver) location. WTH is 100% owned by TEAM along with the acquisition's underneath it.
Canadian Nexus has changed its auditor from DMCL to MNP effective Oct 5th, 2021.
The Company has also granted 350,000 options at $0.14 vesting over time to various employees and directors.
Update on the normal course issuer bid ("NCIB"), as of the time of this news release, TEAM has bought back a total of 578,000 shares. TEAM will continue with the NCIB until it has reached a total of 2.59 million common shares as stated previously in the news release dated April 30, 2021.
Canadian Nexus announces that its board of directors has adopted an amended and restated investment policy (the "Investment Policy") which governs its investment activities and investment strategy. The Investment Policy provides the Company with additional flexibility to invest in any early stage to mid-level emerging growth companies. The Company will continue to look for high growth opportunities is varying sectors, including mining, emerging technology, 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 early-stage to mid-level companies and projects. Canadian Nexus leverages its extensive network of operators and global thought leaders to provide investors with a unique multi-opportunity portfolio. From time to time the company may acquire or dispose of shares in the open market. The company is deploying a strategy of organically building positive cash flow companies with the goal of redeploying this non-dilutive captive into high growth sectors as defined in the Company's investment policy that can be found on Sedar under Canadian Nexus Team Ventures Ltd.
Contact:
Arni Johannson
604-960-1878
Forward-Looking Statements:
This news 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 the timing, consideration, and completion of the joint venture are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the completion of the Acquisition, the anticipated business plans and timing of future activities of the Company, including the Acquisition, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining regulatory approvals (including of the Canadian Securities Exchange), changes in laws, regulations, and policies affecting the Company's operations and the Company's limited operating history.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release
Not for Distribution in the United States
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101617
