Joint News Release Smartset Services Inc. and FinCard Financial Services Inc. Announce Binding Letter of Intent for Qualifying Transaction

▤ Summary

Smartset Services and FinCard Financial Services have signed a binding letter of intent for Smartset to acquire FinCard. FinCard runs a payments infrastructure platform that supports prepaid cards, digital wallets, and money movement services. The transaction is designed to serve as Smartset’s qualifying transaction and will likely result in a Tier 2 Technology listing on the TSXV. The deal also depends on several financings, shareholder approvals, regulatory approvals, and a planned share consolidation. Smartset expects to negotiate a definitive agreement within 60 days of LOI acceptance.

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