TORONTO, Sept. 10,
2024 /CNW/ - Banxa Holdings Inc.
(TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa'' or
the "Company") is pleased to announce important changes to
the Board of Directors and Management team as part of its continued
commitment to driving future growth and innovation.
BOARD OF DIRECTOR CHANGES
Banxa is pleased to welcome Richard
Wells to the Board of Directors as Non-Executive
Director, effective immediately. Richard brings decades of
invaluable experience from his roles as a Board member across
multiple industries, coupled with deep expertise as an Executive in
leading finance functions. His knowledge and strategic insights
will be a tremendous asset as Banxa continues to advance its
mission of building the world's leading embedded
crypto infrastructure.
Additionally, Joshua (Jim)
Landau, who has served as a Non-Executive Director for over
eight years, will be stepping down from his position effective
September 30, 2024. Jim has been a
stabilizing force at the Board and championing strong governance.
Banxa extends its deepest gratitude to Jim for his unwavering
dedication and contributions throughout his tenure.
MANAGEMENT TEAM UPDATE
As part of Banxa's leadership evolution, Richard Mico, U.S. CEO
and Head of Legal, Risk, and Compliance, has stepped down from his
role effective August 15, 2024.
Richard will continue to support a seamless transition until
December 31, 2024.
In light of this transition, Zafer
Qureshi, Executive Director and Co-CEO, will take on the
role of U.S. CEO, overseeing Banxa's expansion in the U.S. market
and activation of the Money Transmission Licenses. Furthermore, the
Legal, Risk, and Compliance teams will now report directly to
Zafer, ensuring continued leadership and focus on regulatory
excellence.
Holger Arians, Chairman and Co-CEO, commented: "I am absolutely
delighted to welcome Richard Wells
to our Board. His extensive experience as a seasoned Board member
and accomplished finance executive will undoubtedly accelerate
Banxa's next chapter of growth and innovation, especially as we
expand our embedded crypto infrastructure. I would
also like to express my deepest thanks to Jim Landau for his unwavering support and wise
counsel over the years, guiding Banxa's evolution into the leading
infrastructure provider for major web3 players. As demonstrated by
our recently announced unaudited FY24 financial results, Banxa is
in a new era of growth, and we are more excited than ever about the
future."
TURKEY CORPORATE ENTITY
SALE
Banxa completed the sale of its corporate entity in Turkey to focus on building out its embedded
crypto infrastructure in its key markets of the U.S.,
Europe, UK, Canada, and Australia. Banxa received USD $219k in proceeds and it was closed in
August 2024.
Richard Wells' Biography:
Richard J. Wells has served as
the Chief Financial Officer of Waterton Global Resource Management,
Inc. ("Waterton"), a $2 billion
private equity firm focused on the precious metals sector, since
2010. Richard is responsible for all financial aspects of
Waterton's corporate office and operating subsidiaries including
accounting, reporting, taxation, investor relations and
administrative matters. At Waterton, he provides financial
oversight as a board member for various operating companies, and
has previously served as either the special committee chair or
audit committee chair for public mining and technology companies
listed on the TSXV. Prior to co-founding Waterton, Richard was the
Chief Financial Officer of a global family office which conducted
investments across a variety of sectors, including real estate,
healthcare and technology. Richard is a Chartered Professional
Accountant and holds a Bachelor of Commerce (Honours) from
McMaster University.
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.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "Zafer Qureshi"
Zafer Qureshi = Executive Director
and Co-CEO, +1-888-332-2692
Forward-Looking Information
This release includes certain statements and information that
may constitute forward-looking information within the meaning of
applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the
expectations or beliefs of management of the Company regarding
future events. Generally, forward-looking statements and
information can be identified by the use of forward-looking
terminology such as "intends" or "anticipates", or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "should", "would" or "occur". This
information and these statements, referred to herein as
"forward‐looking statements", are not historical
facts, are made as of the date of this news release and include
without limitation, statements regarding discussions of future
plans, estimates and forecasts and statements as to management's
expectations and intentions.
These forward‐looking statements involve
numerous risks and uncertainties and actual results might differ
materially from results suggested in any forward-looking
statements. Although management of the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. Readers
are cautioned that reliance on such information may not be
appropriate for other purposes. The Company does not undertake to
update any forward-looking statement, forward-looking information
or financial out-look that are incorporated by reference herein,
except in accordance with applicable securities laws. We seek safe
harbor.
SOURCE Banxa Holdings Inc.
