NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES
VANCOUVER, British Columbia, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Voleo Inc. (together with its subsidiaries “ Voleo ”, the “ Company ”), is pleased to announce that it has added five new features to its mobile investing app. Launched on iOS, Android and web applications in 2017, Voleo provides retail investors a gamified, digital platform to propose and vote on publicly-listed stock trades. As a FINRA member registered with the SEC as a broker dealer across the USA, Voleo is continuously refining it cutting-edge technology while preparing to bring its award-winning platform to the public markets.
Voleo’s newest features offer users more flexibility and control to manage their stock portfolio. Advanced Order Types , potentially preceded by Stock Discussions make trade proposals smarter and more customizable to the individual members. This advancement to the platform allows investment clubs to be more efficient with their trade proposals and facilitate better decision making.
In addition to the strength of Voleo’s offering and its emphasis on providing retail value to new investors, these new features give financial institutions more ways to benefit from the Company’s campaign to target an untapped US millennial market.
Thomas Beattie, CEO of Voleo, stated, “the stock trading vertical continues to evolve at a product level, and we’re excited to deliver ongoing innovation via our platform that places more emphasis on collaboration and portfolio management. Our technology will ensure that Voleo users and investment club members are well placed to grow their wealth and maximise their returns.”
Alana Levine, Marketing Director of Voleo, commented, “many of our feature developments are directly driven from customer feedback. Our existing users help us to understand what will make a difference to their investing experience, which then allows us to extend these features and insights to our B2B financial partners.”
The five new features now available are:
| New feature | Description | Benefits |
| Default recurring contributions | Club founders can set a default amount that each member is supposed to transfer to the club each month from their bank accounts. | Enables clubs to build wealth faster and “pay themselves first”. This accelerates growth in assets on platform, with more capital available for clubs to deploy each month. |
| Advanced Order Types | Makes it easier for a club to be patient in waiting for a price (good till orders) and/or get the terms they want by moving quickly (stop orders). | Greater flexibility over how users plan and facilitate trades. |
| Stock Discussions | Private investment club chat rooms. | Helps with discovering new investment ideas as well as the thoughts people have before making proposals. Deepens engagement and provides mechanisms to be a springboard for trades. |
| Referral Mechanism | Members refer others from their networks to join an investment club. | Users earn bundles of free trade tokens when a referred club gets funded, improving virality and enhancing visibility on the source of new clubs. |
| Teams – a white-label exclusive feature | Exclusively deployed in the pilot workshop with OP Financial Group, teams enable individuals to control their own accounts in the context of social groups. | Teams will facilitate a broader pool of users and new account types, as certain accounts can’t be comingled in investment clubs. |
Contact myvoleo.com to learn more about the above, latest features.
Prospectus Financing
The Company and Logan Resources Ltd. (“Logan”) have filed a preliminary short form prospectus dated January 11, 2019 in each of the provinces of Canada (except Québec) in connection with a proposed offering of subscription receipts of the Company (each, a “Subscription Receipt”) to raise gross proceeds of $5 million (the “Offering”). The Offering is being conducted as a closing condition of the business combination of the Company and Logan (the “Transaction”).
The Offering will consist of 20,000,000 Subscription Receipts at a price of $0.25 per Subscription Receipt (the “Offering Price”), for gross proceeds of $5 million. Each Subscription Receipt will entitle the holder thereof to receive, without payment of additional consideration or further action on the part of the holder, one unit of Logan (each a “Unit” and collectively the “Units”), upon satisfaction of the escrow release conditions.
Each Unit will consist of one common share on a post-consolidation basis (each, a “Unit Share”) and one-half of one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one common share on a post-consolidation basis (each, a “Warrant Share”) at a price of $0.40 at any time up to 5:00 p.m. (Toronto time) on the date which is 24 months from closing date of the Offering (the “Closing Date”).
Haywood Securities Inc. ( ecm@haywood.com ) has been appointed as agent for the Offering and they, or any other registered broker at a licensed investment dealer, can be contacted for further information on participation in the Offering.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from Haywood Securities Inc. at Brookfield Place, 181 Bay Street, Suite 2910, Toronto, ON, M5J 2T3 or by email at ecm@haywood.com . There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
No securities regulatory authority has expressed an opinion about the securities described herein. No Logan securities have been or will be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or the securities laws of any state, district or commonwealth of the United States (as defined in Regulation S under the U.S. Securities Act). Accordingly, these securities may not be offered or sold, directly or indirectly, within the United States or to or for the account or benefit of any "U.S. Person" (as defined in Regulation S under the U.S. Securities Act), absent an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States or any jurisdiction where such offer or sale would be unlawful, or for the account or benefit of any U.S. Person or person within the United States.
About Voleo Inc.
Voleo is a Canadian mobile-focused fintech application company on a mission to make investing social through enhancing connectivity, transparency, convenience, and collaboration among investors. Voleo's equity trading platform operates on mobile applications available on iOS and Android smartphone devices plus companion web app. Voleo has increased retail investor participation in the stock market by breaking down barriers to entry, facilitating trust and improving financial literacy.
For more information on Voleo, please visit our Investor Relations website at https://ir.myvoleo.com .
ON BEHALF OF THE VOLEO BOARD
“Thomas Beattie” Chief Executive Officer
| KING & BAY | Voleo Inc. is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the technology, resource, aviation, and sectors. |
For further information regarding this press release, please contact:
Voleo Inc. Thomas Beattie, Chief Executive Officer Toll Free: 1-866-683-8030 Email: investor.relations@myvoleo.com Website: https://ir.myvoleo.com Follow us: @MyVoleo
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to (i) the completion of the Offering; (ii) Voleo’s future business objectives and plans and the timing thereof; and (iii) removal of conditions relating to the completion of the Transaction. All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Voleo believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this release should not be unduly relied upon. These forward-looking statements speak only as of the date of this release, or as of the date specified in the documents incorporated by reference into this release, as the case may be. In particular, this release contains forward-looking statements pertaining, but not limited to: expectations as to future operations of the Company, future market trends, growth opportunities, the Company’s go to market strategy, the expected operations and performance of the Company’s business, impact of governmental regulation, anticipated revenues, expected user growth, expected operating costs, general administrative costs, costs of services and other costs and expenses, and the timing of key development milestones.
With respect to forward-looking statements contained in this release, the Company has made assumptions regarding, among other thing: the accuracy, reliability and applicability of the Company’s business model; the timely receipt of governmental approvals, including the receipt of approval from regulators in Canada and the United States; the timely commencement of operations by the Company and the success of such operations; the ability of the Company to implement its business plan as intended; the legislative and regulatory environments of the jurisdictions where the Company will carry on business or have operations; the impact of competition; and the availability of financing to execute the business plan. The Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release in order to provide investors with a more complete perspective on the Company’s current and future operations and such information may not be appropriate for other purposes.
Readers are cautioned that the foregoing lists of factors are not exhaustive and it would be unreasonable to rely on any such forward-looking statements and information as creating any legal rights, that the statements and information are not guarantees and may involve known and unknown risks and uncertainties, and that actual results may differ (and may differ materially) and objectives and strategies may differ or change from those expressed or implied in the forward-looking statements or information as a result of various factors. The forward-looking statements contained in this release are expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company is not under any duty and do not undertake any obligation to publicly update or revise any forward-looking statements after the date of this release or to conform such statements to actual results or to changes in the Company’s expectations and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
