TORONTO, May 20, 2020 (GLOBE NEWSWIRE) -- Fintech Select Ltd. (“Fintech Select” or the “Company”) (TSX-V: FTEC) is announcing that it has applied to the TSX Venture Exchange for approval to amend the exercise price and expiration of certain outstanding warrants (the “Warrants”). The Warrants’ exercise price and expiry date are detailed below. Each of these warrants will be amended to reflect an exercise price of six (6) cents each. In accordance with TSX-V policies, the Warrants will also be amended to include an acceleration clause whereunder the exercise period of Warrants will be reduced to thirty (30) days, if, for any ten consecutive trading days during the unexpired term of the Warrants, the closing price of the Company’s listed shares exceeds the price of 7.5 cents per share. The Warrants will also be extended to September 30, 2020.

Original Exercise PriceNumber OutstandingOriginal Expiry Date
Warrants @ $0.355,280,000June 12, 2020

In light of COVID-19, The Company has also applied to the TSX Venture Exchange for approval to re-amend the expiration date of the warrants listed below to September 30, 2020. These warrants were previously amended and approved by the TSX Venture Exchange as per our news release dated March 17, 2020.

Amended Exercise PriceNumber OutstandingAmended Expiry Date
Warrants @ $0.0610,399,997June 30, 2020

The requested amendments are subject to all necessary approvals by the TSX Venture Exchange.

The Company intends to notify all registered holders of warrants.

FOR FURTHER INFORMATION PLEASE CONTACT:

Mohammad Abuleil, President & CEO or
Shelley Alliet @ - Investor@fintechselect.com
519-3518647

About Fintech Select Ltd.

Fintech Select is a provider of robust and disruptive Pre-Paid Card programs and mobile banking solutions. Fintech Select has enabled these core assets, which operate through separate divisions, to work together harmoniously to create a new and ubiquitous environment for consumers and businesses alike. Fintech Select also operates an international call centre that provides fulfillment and customer service support to customers across all of the Company’s  platforms. Our mission is to provide customers with choice, convenience and cost-effective ways to facilitate traditional financial transactions.

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information:
This news release contains “forward-looking information” within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. Fintech undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of its securities, financial or operating results (as applicable) or prospects as to the effective implementation of the warrant repricing or anything else noted above. Fintech disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.