Banxa Holdings Provides Update on Previously Announced Plan of Arrangement with OSL Group
Banxa Holdings (OTCQX:BNXAF) has provided an update on its pending arrangement with OSL Group Limited. The company has made significant progress in obtaining required regulatory approvals, including: change of control approval for money-transmitter licenses in 17 out of 37 U.S. states, a declaration of no objection from the Netherlands De Nederlandsche Bank, and submitted notifications to the UK's Financial Conduct Authority.
The final order hearing for the arrangement approval has been adjourned from September 2, 2025, by the Supreme Court of British Columbia to allow more time for obtaining remaining regulatory approvals. The completion remains subject to conditions outlined in the June 27, 2025 arrangement agreement.
Banxa Holdings (OTCQX:BNXAF) ha fornito un aggiornamento sull’accordo in corso con OSL Group Limited. La società ha registrato progressi significativi nell’ottenimento delle approvazioni regolamentari necessarie, incluse: l’autorizzazione al cambiamento di controllo per le licenze di money-transmitter in 17 su 37 stati degli USA, una dichiarazione di non obiezione dalla De Nederlandsche Bank nei Paesi Bassi e la presentazione delle notifiche alla Financial Conduct Authority del Regno Unito.
L’udienza per l’ordine finale relativa all’approvazione dell’accordo è stata rinviata dal 2 settembre 2025 dalla Corte Suprema della Columbia Britannica, per concedere più tempo all’ottenimento delle restanti approvazioni regolamentari. Il completamento dell’operazione rimane subordinato alle condizioni previste nell’accordo del 27 giugno 2025.
Banxa Holdings (OTCQX:BNXAF) ha informado una actualización sobre su acuerdo pendiente con OSL Group Limited. La compañía ha avanzado de manera significativa en la obtención de las aprobaciones regulatorias necesarias, incluyendo: la aprobación del cambio de control para licencias de transmisores de dinero en 17 de los 37 estados de EE. UU., una declaración de no objeción por parte de De Nederlandsche Bank en los Países Bajos y la presentación de notificaciones a la Financial Conduct Authority del Reino Unido.
La audiencia para la orden final de aprobación del acuerdo ha sido aplazada desde el 2 de septiembre de 2025 por la Corte Suprema de la Columbia Británica, para permitir más tiempo para obtener las aprobaciones regulatorias restantes. La finalización sigue sujeta a las condiciones establecidas en el acuerdo del 27 de junio de 2025.
Banxa Holdings (OTCQX:BNXAF)가 OSL Group Limited와의 진행 중인 합병 관련 업데이트를 발표했습니다. 회사는 필요한 규제 승인 확보에 있어 상당한 진전을 이뤘으며, 그 내용으로는 미국 37개 주 중 17개 주의 머니트랜스미터 라이선스에 대한 지배권 변경 승인, 네덜란드 De Nederlandsche Bank의 이의 없음 선언, 영국 금융감독원(FCA)에 대한 통지 제출 등이 포함됩니다.
합병 승인 최종 명령 심리는 남은 규제 승인을 확보할 시간을 갖기 위해 브리티시컬럼비아주 대법원에 의해 2025년 9월 2일에서 연기되었습니다. 거래 완료는 2025년 6월 27일 체결된 합병 계약에 명시된 조건들의 충족을 전제로 합니다.
Banxa Holdings (OTCQX:BNXAF) a communiqué une mise à jour concernant son arrangement en cours avec OSL Group Limited. La société a réalisé des progrès significatifs dans l’obtention des approbations réglementaires requises, notamment : l’autorisation de changement de contrôle pour les licences de transmetteurs de fonds dans 17 des 37 États américains, une déclaration de non-objection de la De Nederlandsche Bank aux Pays-Bas, et le dépôt de notifications auprès de la Financial Conduct Authority au Royaume‑Uni.
L’audience finale pour l’ordonnance d’approbation de l’arrangement a été ajournée à partir du 2 septembre 2025 par la Cour suprême de la Colombie‑Britannique afin de laisser davantage de temps pour obtenir les approbations réglementaires restantes. La réalisation de l’opération reste subordonnée aux conditions énoncées dans l’accord du 27 juin 2025.
Banxa Holdings (OTCQX:BNXAF) hat ein Update zu seiner ausstehenden Vereinbarung mit OSL Group Limited veröffentlicht. Das Unternehmen hat bedeutende Fortschritte bei der Einholung der erforderlichen behördlichen Genehmigungen erzielt, darunter: die Genehmigung des Kontrollwechsels für Geldübermittlerlizenzen in 17 von 37 US-Bundesstaaten, eine Nichtbeanstandungserklärung der De Nederlandsche Bank in den Niederlanden sowie die Einreichung von Meldungen bei der britischen Financial Conduct Authority.
Die endgültige Anhörung über die Anordnung zur Zustimmung zur Vereinbarung wurde vonseiten des Supreme Court of British Columbia auf einen späteren Termin verschoben (ursprünglich 2. September 2025), um mehr Zeit für die Einholung der verbleibenden behördlichen Genehmigungen zu ermöglichen. Der Abschluss bleibt an die im Vereinbarungsvertrag vom 27. Juni 2025 genannten Bedingungen gebunden.
- Secured change of control approval in 17 U.S. states
- Received declaration of no objection from Netherlands De Nederlandsche Bank
- Progress made on multiple regulatory fronts across different jurisdictions
- Delay in final order hearing originally scheduled for September 2
- Still pending approvals in 20 U.S. states
- Additional regulatory approvals still required for deal completion
Toronto, Ontario--(Newsfile Corp. - September 4, 2025) - Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa" or the "Company"), a leading infrastructure provider for enabling embedded crypto within payment platforms, today provided an update with respect to certain outstanding required regulatory approvals (the "Required Regulatory Approvals"), the receipt of which is a key condition precedent to the completion of the previously announced plan of arrangement (the "Arrangement") with OSL Group Limited and OSL BNXA Acquisition Inc. (together with the Company, the "Parties").
As it relates to such Required Regulatory Approvals, the Company has, as of the date hereof: (a) received change of control approval for money-transmitter licenses in 17 out of 37 designated U.S. states; (b) received the declaration of no objection from the Netherlands De Nederlandsche Bank, representing a key milestone as we near a decision from the Netherlands' Authority for Financial Markets for the Markets in Crypto-Assets Regulation license; and (c) submitted the required notifications to the Financial Conduct Authority in the United Kingdom.
The hearing for the final order to approve the Arrangement, originally scheduled for September 2, 2025, has been adjourned by order of the Supreme Court of British Columbia to give the parties additional time to obtain the remaining Required Regulatory Approvals.
Completion of the Arrangement remains subject to the satisfaction or waiver of the conditions precedent set out in the arrangement agreement dated June 27, 2025 among the Parties, a copy of which is available on the Company's SEDAR+ profile at http://www.sedarplus.ca. Further details with respect to the Required Regulatory Approvals and the other conditions precedent may be found in the management information circular of the Company dated July 25, 2025, which is available on the Company's SEDAR+ profile at http://www.sedarplus.ca.
About Banxa Holdings Inc.
Banxa is the leading infrastructure provider for enabling embedded crypto - empowering businesses to embed crypto seamlessly into their existing platforms and unlocking new opportunities in the rapidly evolving crypto economy. Through an extensive and growing network of global and local payment solutions and regulatory licenses, Banxa helps businesses provide seamless integration of crypto and fiat for global audiences with lower fees and higher conversion rates. Headquartered in the USA, Europe, and Asia-Pacific, the Banxa team is building for a world where global commerce is run on digital assets. For further information, visit www.banxa.com.
For further information, please contact:
Zafer Qureshi
Executive Director and Co-Chief Executive Officer
Banxa Holdings Inc.
E: investors@banxa.com
T: +1-888-332-2692
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information may be identified by statements including words such as: "anticipate," "intend," "plan," "budget," "believe," "project," "estimate," "expect," "scheduled," "forecast," "strategy," "future," "likely," "may," "to be," "could,", "would," "should," "will" and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Statements including forward-looking information may include, without limitation, statements regarding the Arrangement and the conditions to the completion thereof and other statements that are not material facts. Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to, that the Company will receive, in a timely manner and on satisfactory terms, the necessary court and regulatory approvals, and otherwise be able to satisfy, in a timely manner, all outstanding conditions to the completion of the Arrangement. The Company considers these assumptions to be reasonable in the circumstances. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. By its nature, forward-looking information involves known and unknown risks, uncertainties, changes in circumstances and other factors that are difficult to predict and many of which are outside of the Company's control which may cause actual results to differ materially from any future or potential results expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from those indicated in the forward-looking information include, among others: (i) the possibility of adverse reactions or changes in business resulting from the announcement of the Arrangement; (ii) risks relating to the Company's ability to retain and attract key personnel during the interim period leading up to the completion of the Arrangement; (iii) risks related to diverting management's attention from the Company's ongoing business operations; and (iv) other risks inherent to the business carried out by the Company and factors beyond its control which could have a material adverse effect on the Company or its ability to complete the Arrangement. The Company has assumed that the risk factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events. The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Other than as specifically required by applicable Canadian law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, whether as a result of new information, future events or results, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265202
FAQ
What is the current status of Banxa Holdings' (BNXAF) arrangement with OSL Group?
How many U.S. state approvals has Banxa Holdings received for the OSL Group arrangement?
What regulatory approvals has Banxa received in Europe for the OSL arrangement?
When was the original final order hearing scheduled for Banxa's arrangement with OSL?
Where can investors find more information about the Banxa-OSL arrangement agreement?
