Inverite Adds Xcash Financial Services on Its Open Banking Ready AI Platform
Inverite Insights Inc. (CSE: INVR) has announced a strategic partnership with Xcash Financial Services to integrate its AI-driven Open Banking Ready Platform. Xcash, serving over 50,000 Canadian customers, will utilize Inverite's technology to enhance credit decisioning for its financial products, including payday loans up to $1,500 and personal loans up to $5,000.
Additionally, Inverite announced plans to issue up to 4.67 million units and/or common shares to settle $700,000 in payables, along with a non-brokered private placement of up to 5.33 million units at $0.15 per unit, aiming to raise $800,000. Each unit includes a common share and a half warrant exercisable at $0.20 for two years.
Inverite Insights Inc. (CSE: INVR) ha annunciato una partnership strategica con Xcash Financial Services per integrare la sua piattaforma AI conforme all'Open Banking. Xcash, che serve oltre 50.000 clienti canadesi, sfrutterà la tecnologia di Inverite per migliorare le decisioni di credito sui propri prodotti finanziari, tra cui prestiti payday fino a $1.500 e prestiti personali fino a $5.000.
Inverite ha inoltre comunicato l'intenzione di emettere fino a 4,67 milioni di unità e/o azioni ordinarie per saldare $700.000 di debiti e di effettuare un collocamento privato non intermediat o fino a 5,33 milioni di unità a $0,15 per unità con l'obiettivo di raccogliere $800.000. Ogni unità comprende un'azione ordinaria e mezza warrant esercitabile a $0,20 per due anni.
Inverite Insights Inc. (CSE: INVR) ha anunciado una alianza estratégica con Xcash Financial Services para integrar su plataforma preparada para Open Banking impulsada por IA. Xcash, que atiende a más de 50.000 clientes en Canadá, utilizará la tecnología de Inverite para optimizar la toma de decisiones crediticias en sus productos financieros, incluidos préstamos payday de hasta $1,500 y préstamos personales de hasta $5,000.
Además, Inverite anunció su plan de emitir hasta 4,67 millones de unidades y/o acciones comunes para saldar $700,000 en cuentas por pagar, y realizar una colocación privada no intermediada de hasta 5,33 millones de unidades a $0.15 por unidad, con la meta de recaudar $800,000. Cada unidad incluye una acción común y medio warrant ejercitable a $0.20 durante dos años.
Inverite Insights Inc. (CSE: INVR)는 Xcash Financial Services와 전략적 파트너십을 맺고 자사의 AI 기반 오픈뱅킹 준비 플랫폼을 통합한다고 발표했습니다. 5만 명 이상의 캐나다 고객을 보유한 Xcash는 Inverite의 기술을 활용해 급여일 대출(payday loan) 최대 $1,500 및 개인 대출 최대 $5,000 등 금융상품의 신용판단을 강화할 예정입니다.
또한 Inverite는 채무 $700,000을 상환하기 위해 최대 467만 단위 및/또는 보통주를 발행할 계획이며, $800,000 조달을 목표로 단위당 $0.15에 최대 533만 단위를 비중개 사모로 발행할 예정이라고 발표했습니다. 각 단위는 보통주 1주와 행사기간 2년, 행사가격 $0.20의 워런트 0.5개를 포함합니다.
Inverite Insights Inc. (CSE: INVR) a annoncé un partenariat stratégique avec Xcash Financial Services afin d'intégrer sa plateforme Open Banking prête à l'emploi, pilotée par l'IA. Xcash, qui compte plus de 50 000 clients canadiens, utilisera la technologie d'Inverite pour améliorer la prise de décision en matière de crédit pour ses produits financiers, notamment des prêts sur salaire jusqu'à 1 500 $ et des prêts personnels jusqu'à 5 000 $.
Inverite a également annoncé son intention d'émettre jusqu'à 4,67 millions d'unités et/ou d'actions ordinaires pour régler 700 000 $ de dettes, ainsi qu'un placement privé sans intermédiaire de jusqu'à 5,33 millions d'unités à 0,15 $ l'unité, visant à lever 800 000 $. Chaque unité comprend une action ordinaire et un demi-warrant exerçable à 0,20 $ pendant deux ans.
Inverite Insights Inc. (CSE: INVR) hat eine strategische Partnerschaft mit Xcash Financial Services bekanntgegeben, um seine KI-gestützte, Open-Banking-fähige Plattform zu integrieren. Xcash, das über 50.000 kanadische Kunden betreut, wird Inverites Technologie nutzen, um die Kreditentscheidungen für seine Finanzprodukte zu verbessern, darunter Payday-Kredite bis $1.500 und Privatkredite bis $5.000.
Außerdem kündigte Inverite Pläne an, bis zu 4,67 Millionen Einheiten und/oder Stammaktien zur Begleichung von $700.000 Verbindlichkeiten auszugeben sowie eine nicht vermittelte Privatplatzierung von bis zu 5,33 Millionen Einheiten zu $0,15 pro Einheit durchzuführen, mit dem Ziel, $800.000 zu beschaffen. Jede Einheit umfasst eine Stammaktie und eine halbe Warrant mit Ausübungspreis $0,20 und Laufzeit zwei Jahre.
- Partnership with Xcash expands Inverite's market reach to 50,000+ Canadian customers
- Strategic debt settlement plan of $700,000 through unit/share issuance
- Potential to raise $800,000 through non-brokered private placement
- Dilution risk from issuance of up to 10 million new units/shares
- Significant debt settlement through equity indicates cash flow challenges
Vancouver, British Columbia--(Newsfile Corp. - September 4, 2025) - Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRD) (FSE: 2V0) ("Inverite") a leading AI-driven software provider utilizing real-time financial data to empower businesses to transact more effectively with consumers, is pleased to announce the addition of Xcash Financial Services Inc. ("Xcash"), to its Open Banking Ready AI Platform to deliver greater insight into credit decisioning.
Xcash will leverage Inverite's proprietary technology to deliver faster, data-driven credit decisions for its more than 50,000 Canadian customers. By incorporating real-time financial insights, Xcash will enhance its ability to provide efficient, accurate, and responsible lending services both through its online platform and the Xcash mobile app, providing customers convenient and secure access to financial products on the go.
Based in Toronto and operating since 2008, Xcash offers Canadians a variety of quick-access financial products including instant payday loans of up to
"Our partnership with Inverite allows us to deliver quicker and more precise lending decisions while continuing to provide the reliable and responsible service our clients expect," said Almog Harush of Xcash.
"We are proud to support Xcash as they enhance their lending services with advanced, real-time verification tools. This partnership reflects Inverite's commitment to helping financial service providers improve accuracy and efficiency in credit decisioning," said Karim Nanji, CEO of Inverite.
The Company is also pleased to announce its intention to issue up to 4.67 million units ("Units") and/or common shares ("Shares") to settle up to
The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act), except pursuant to an exemption from the registration requirements of those laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the 1933 Act).
The transaction remains subject to the approval of the CSE. The Units and/or Shares will be subject to a hold period of four months from the date of issuance.
About Xcash Financial Services Inc.
Founded in 2008 and based in Toronto, Xcash Financial Services Inc. ("Xcash") offers payday loans (up to
For further information about Xcash Financial Services Inc., please visit: xcash.ca.
About Inverite Insights Inc.
Inverite Insights Inc. (CSE: INVR) (OTC Pink: INVRD) (FSE: 2V0) ("Inverite") is a Vancouver-based, AI-driven software provider specializing in real-time financial data. With a vast database of over 28 billion financial data points from more than seven million unique Canadian consumers requests, Inverite empowers businesses to transact more effectively with consumers through innovative solutions for data enrichment, identity, risk management and compliance.
For further information about Inverite, please visit: inveriteinsights.com.
ON BEHALF OF THE BOARD
Mike Marrandino, Executive Chairman
T: (855) 661-2390 ext. 104 Email: ir@inverite.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider/Market Maker (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release, nor has in any way passed upon the merits of the proposed transaction nor approved or disapproved the contents of this press release.
Forward-Looking Statements: This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes that any forward-looking statements in this news release are reasonable, there can be no assurance that any such forward-looking statements will prove to be accurate. The Company cautions readers that all forward-looking statements, are based on assumptions none of which can be assured and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements.
The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the CSE. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265028
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