TORONTO, Sept. 19, 2022 /CNW/ - CoinSmart Financial Inc. ("CoinSmart" or "CFI") (NEO: SMRT) (FSE: IIR), a leading Canadian-headquartered crypto asset trading platform, announced today that Sheereen Khan has joined CoinSmart as Chief Compliance Officer.
Prior to joining CoinSmart Ms. Khan held senior compliance positions with Coinberry Ltd., Laurentian Bank Financial Group, JP Morgan Chase and Bank of Montreal. She will replace Jeremy Koven who acted as Interim Chief Compliance Officer following the departure of Joe Tosti.
Annual General Meeting Results
CoinSmart also announced that all resolutions considered by the shareholders at the Annual General Meeting of Shareholders (the "Meeting") previously held on June 29, 2022 were passed.
Voting as to each of the director nominees were as follows:
G. Scott Paterson
Please refer to the report of voting results filed under CFI's profile at www.sedar.com for the detailed results of all matters voted upon by shareholders at the Meeting.
CoinSmart recently launched SmartPay, the easiest way for businesses to send and accept crypto payments. This payment processing service guarantees no chargebacks, no holds, same day settlements, and up to 80% cost savings, compared to traditional payment methods like credit cards. It is estimated that there are over 300 million crypto users worldwide. Also, over 75% of global retailers plan to accept crypto over the next 24 months, making crypto more mainstream than ever. Moreover, crypto payment processing eliminates chargebacks, which is currently a $125 billion problem in the world of payment processing.
CoinSmart also became the first crypto platform to receive an Online Sports Wagering Vendor Permit from the State of Wyoming, allowing CoinSmart to process cryptocurrency payments for legalized gaming companies licensed in Wyoming.
CoinSmart has terminated the previously disclosed investment in NFT cross-bridge marketplace Curate due to repeated breaches and non-fulfillment by Curate Group Ltd. of its obligations pursuant to the Share Purchase Agreement. CoinSmart is in the process of evaluating any available recourse against Curate Group Ltd.
About CoinSmart Financial Inc.
CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer and marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.
CoinSmart further builds on its mission to make cryptocurrency accessible by providing educational resources tailored to every level of cryptocurrency knowledge and unparalleled 24/7 omni-channel customer support. Offering instant verification, industry leading cold wallet storage, advanced charting with order book functionality and over-the-counter premium services, CoinSmart ensures every client's needs are met with the highest level of quality and care. For more information please visit https://www.CoinSmart.com/.
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: regulatory approvals. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
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