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You’re Invited – #KABN Systems North America Online “Ask Me Anything” #Fintech Event

Posted by AGORACOM-JC at 6:49 PM on Sunday, April 5th, 2020

KABN Systems North America is in the business of verifying, managing and monetizing online Digital Identity.We’re inviting you to join our online “Ask Me Anything” event with the KABN Systems North America Team

Join Us:

Wednesday, April 15th from 12 pm to 1 pm Eastern

or

Friday April 17th  from 12pm to 1pm Eastern

Digital Data is the new “Gold”!

KABN North America empowers users to verify, protect, manage and profit from their Digital Identity.  With the recent changes to working, shopping, educating and playing from home, online usage and engagement is growing.

KABN’s business is:

  • About providing consumers with no-cost tools to manage their Digital Identity and profit from the public data.
  • Focused online making us Covid-19 resistant.
  • Relevant to 100% of the online, digital market.
  • Optimized for commercial partnerships in Financial Services, eCommerce, Education, Government, Healthcare, Technology, Gaming & more.
  • Built, scalable, proven and in market today.
  • Aligned with online revenue trends.
  • Run by a veteran team of successful industry leaders.
  • In process of a proposed RTO transaction for public listing.

KABN Systems North America Inc.

www.kabnsystemsna.com

#KABN NA Proposed RTO / Public Listing Update

Posted by AGORACOM-JC at 9:18 AM on Thursday, February 27th, 2020

KABN Systems North America Inc. A Fintech platform focused on Verifying, Managing & Monetizing Online Identity. KABN’s mission is to create a world-class suite of products and services that support the decentralized market economy, globally enabling consumers to manage their digital identity and other data to create value-based relationships in the financial and loyalty services arena.

FROM THE DESK OF DAVID LUCATCH, President, Co-Founder & Director :

Good Morning.

The Management Information Circular for the Business Combination (RTO) between KABN Systems North America Inc. and Torino Power Solutions Inc. (CSE:TPS) has been publicly filed on SEDAR.   

Torino Power Solution’s Annual and Special Meeting is scheduled to be held on March 31, 2020 at 10 am PST in Vancouver. 

To view the Management Information Circular, Please visit:

https://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00036995

Click on View This Company’s Documents at the bottom left 

Select: Management information circular – English 

Dated:  February 26, 2020  

Click on the item and enter the code and view.

Happy Reading and feel free to share!

In addition to accelerating KABN NA’s business activities, during this period, we will be working with the investment community and counsel to finalize the Listing Statement for the CSE.

KABN NA will be at FFCON20 – RISE

Don’t forget to get your ticket and visit us at the 6th Annual FFCON20 on March 23rd and 24th in Toronto – click here for your discount tickets https://bit.ly/2Pj64UZ 

As always, if you have any questions or comments, please feel free to reach out. 

My best,

David Lucatch

President, Co-Founder & Director

p: +1 416 409 4318

e: [email protected]

Fintech Trends Everyone Should Look For in 2020 – SPONSOR: #KABN Systems North America Inc.

Posted by AGORACOM-JC at 1:00 PM on Friday, February 21st, 2020

SPONSOR: KABN Systems North America Inc. A Fintech platform focused on Verifying, Managing & Monetizing Online Identity. KABN’s mission is to create a world-class suite of products and services that support the decentralized market economy, globally enabling consumers to manage their digital identity and other data to create value-based relationships in the financial and loyalty services arena.

Fintech Trends Everyone Should Look For in 2020

  • These statistics can’t go wrong as fintech is expected to grow further with companies from around the world pouring in their investments in this sector
  • A report on these shares that investments in the fintech industry is expected to number over $30 billion in 2020.

by Pete McCain

2020 is unofficially considered a defining year for various reasons. Tons of estimations on the growth of industries and sectors across the globe have 2020 as the year, where things will go uphill. Fintech is no exception. Pull out any information or statistics on the growth of fintech, this year stands as the pinnacle of the industry’s growth.

These statistics can’t go wrong as fintech is expected to grow further with companies from around the world pouring in their investments in this sector. A report on these shares that investments in the fintech industry is expected to number over $30 billion in 2020.

With several fintech market players reinvesting in strengthening their service delivery and IT infrastructure, they are involuntarily setting up new trends in the market. They are all becoming increasingly customer-centric, aiming to get more things done in less time with the help of disruptive technologies.

Here, we break downtrends in the fintech industry to look out for in 2020.

Big Data and Artificial Intelligence for Personalization

Speaking of disruptive technologies, we cannot overlook the impact concepts like Big Data, artificial intelligence, machine learning, and deep learning have left on various industries. If an online streaming platform knows more about our movie preferences than our best friend, it is only because of complex artificial intelligence algorithms at work.

With the advent of Big Data, it has also become easier for companies to handle massive amounts of data generation and processing. Now, fintech companies can understand more about us through our online behaviour, browsing history and app usage on our likes and dislikes, preferences, credit and repayment history and more.

With AI being omnipresent across multiple channels, fintech companies are looking to combine the power of both to deliver better services and experiences to their users through personalization. If you’ve been into marketing, you would know the impact personalization has among consumers. With the combination of these two technologies, we can experience a one-to-one, focused banking experience in the coming months.

Blockchain To Shake Up the Industry

Financial institutions have always been eyeing optimum security and safety and with the onset of Blockchain, they are a step closer to achieving this. A decentralized and distributed concept that is fool-proof, Blockchain is everything the fintech industry could ask for. Some of the plaguing concerns in the fintech industry include frauds and identity thefts, which cause billions of dollars of losses to companies every year. With the implementation of Blockchain in this industry, companies can pave the way for a smarter and safer transaction and operation.

Besides, it is also revealed that the investments in blockchain are anticipated to hit $6,700mn by the year 2023. So, in the coming years, we could expect jargons of today like smart contracts, trading shares, identity management and more to become mainstream.

Chatbots

Chatbots are AI-powered bots that replicate human interactions. They have access to the internet and are designed to accurately pull out specific information depending on the question asked. Most of us are already talking to a chatbot in a number of scenarios and we aren’t aware of it. Close to cracking the Turing Test, the implementation of chatbots will continue to soar to new heights in the coming months.

By the year 2023, it is also expected that close to 826 million hours would be saved by banks with their chatbots deployment. Also, over 79% of the successful interactions using chatbots will be through mobile applications in the coming three years.

With the fintech industry being prone to queries and questions from potential leads, new customers, existing customers and others, chatbots are the way forward to save time on redundant tasks and use manpower to focus on niche tasks.

RPA

RPA stands for Robotic Process Automation. In the year 2020, more companies will invest in deploying RPAs into their systems to optimize operations and make service delivery more effective. An advanced version of chatbots, RPA is more like an artificially intelligent colleague working with you at your workplace.

They were one of the biggest trends to watch out for in the year 2018 and in a span of two years, they have become mainstream enough to be deployed in companies. With their implementation, companies can further make their data aggregation and processing more streamlined, offer better customer service, find and fix loopholes in workflow and take care of specific tasks like:

  • Onboarding customers
  • Verifying and conducting background checks
  • Data analytics and reporting
  • Managing compliance processes
  • Assessing risk and more

Cybersecurity

With digital implementation comes enormous risks. That’s a giveaway. When companies, especially fintech companies, go digital in terms of applications and progressive websites, they open up new avenues for attacks and threats. According to research, over 98% of the top 100 fintech companies across the globe have vulnerabilities despite having proper tech infrastructure in place.

There are also issues of identity theft, fraudulent transactions, access to sensitive user data and more in this sector. That’s why cybersecurity stands as one of the priority implementations for the year 2020. Blockchain, AI and other technologies we discussed earlier are all simultaneously working on optimizing security in this sector.

So, these are the top fintech trends to look out for in the year 2020. If you intend to get a fintech app launched, you need to take care of all the factors we just discussed. They are trends because they are inevitable this year.

Source: https://www.paymentsjournal.com/fintech-trends-everyone-should-look-for-in-2020/

National Crowdfunding & Fintech Association and #KABN Systems North America enter multi-year exclusive partnership to promote Digital Identity in Canada

Posted by AGORACOM-JC at 8:33 AM on Friday, February 14th, 2020
  • National Crowdfunding & Fintech Association of Canada (NCFA) and KABN Systems North America Inc. (KABN NA) announced a collaborative partnership to promote Digital Identity management and usage in Canada through a 3 year exclusive partnership launching at the 2020 Fintech and Financing Conference and Expo (FFCON20) to be held in downtown Toronto on March 23-24, 2020.

Digital Identity program to be launched at 20: RISE

TORONTO, ON / February 13, 2020 / The National Crowdfunding & Fintech Association of Canada (NCFA) and KABN Systems North America Inc. (KABN NA) announced today they have formed a collaborative partnership to promote Digital Identity management and usage in Canada through a 3 year exclusive partnership launching at the 2020 Fintech and Financing Conference and Expo (FFCON20) to be held in downtown Toronto on March 23-24, 2020.

View photos

With finance and fintech touching virtually every business and entity of people’s lives, the NCFA and KABN NA will be embarking on awareness and education programs on the value of having a secure, re-usable online identity that can reduce identity fraud and replace the need to show credentials every time you need to prove your online identity.

KABN Systems North America Inc. is a Canadian Fintech company that specializes in continuous online Identity Verification, Identity Management and Monetization and is currently in the launch phase of its digital banking and financial services platform, Pegasus Flyte.

KABN NA recently announced that it has executed Definitive Agreements with Torino Power Solutions (CSE:TPS), subject to all necessary approvals, Torino will acquire all of the issued and outstanding shares in the capital of KABN NA, which will constitute a fundamental change of the Company and that will result in a reverse takeover (the “RTO“) of Torino by KABN NA.

The theme for the 6th annual FFCON20 is RISE, focused on increasing the success and sustainability of Canada’s fintech and financial sector fostering partnerships between fintech companies and financial institutions, opening investment channels and connecting emerging talent with markets. KABN will be a prominent partner of this event and all other events that the NCFA presents over the next 3 years.

FFCON20 facilitates thought-provoking and relevant discussions, lively debates and personal networking for the cross-pollination of ideas and experiences. The two-day event also provides a variety of competitions where investors can find deal flow and companies can get direct access to prominent investors. FFCON20, at its core, brings markets to life and provides an open forum for collaboration between emerging companies and major stakeholders.

“Identity is a key component of the online fintech environment and consumers are becoming more aware of its value and vulnerability. We’re very excited to partner with KABN North America to educate consumers and businesses on the value of digital identity in the marketplace, how to protect it and how to manage it.” Craig Asano, Founder and CEO, NCFA

“We are excited to have the opportunity to partner and work with the NCFA and leverage their leadership in the Fintech sector and create leadership in the digital identity arena. KABN is focused on collaboration with industry stakeholders and supports educating North Americans about the value of digital identity, to create better use of our private data.” Ben Kessler, CEO, KABN Systems North American Inc.

For more information on FFCON20: RISE click here

The National Crowdfunding & Fintech Association (NCFA) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. For more information, please visit: ncfacanada.org

Kirsten Gillibrand’s new bill would establish a US data protection agency SPONSOR: #KABN Systems North America Inc.

Posted by AGORACOM-JC at 8:28 AM on Friday, February 14th, 2020

SPONSOR: KABN Systems North America Inc. A Fintech platform focused on Verifying, Managing & Monetizing Online Identity. KABN’s mission is to create a world-class suite of products and services that support the decentralized market economy, globally enabling consumers to manage their digital identity and other data to create value-based relationships in the financial and loyalty services arena.

Kirsten Gillibrand’s new bill would establish a US data protection agency

The Data Protection Agency would enforce federal privacy laws out of the hands of the FTC.Issie Lapowsky

  • Members of Congress still haven’t written the rules of the road for consumer privacy in America. But on Thursday, Democratic Sen. Kirsten Gillibrand introduced a new bill that would at least appoint a traffic cop.

February 13, 2020

Members of Congress still haven’t written the rules of the road for consumer privacy in America. But on Thursday, Democratic Sen. Kirsten Gillibrand introduced a new bill that would at least appoint a traffic cop.

The so-called Data Protection Act of 2020 would create the country’s first data protection agency to oversee how privacy laws in America are enforced and guide Congress on the development of those laws. The agency would be empowered to impose penalties on companies that violate people’s privacy, taken them to court, field consumer complaints, and launch investigations.

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In a blog post, Gillibrand wrote that the country faces an inflection point similar to the post-9/11 days when the government realized it needed to shore up national security and established the Department of Homeland Security to do it.

“As our country and economy continue to evolve with the digital age, we face a national crisis as our personal data gets targeted — and not just for marketing by brands, but also to establish if we can access certain jobs, loans, or prices on products,” Gillibrand wrote. “Americans should be able to go to an institution that will look out for, and actively work to protect, their privacy and freedom.”

The agency would enforce current privacy laws and any future laws Congress passes and have rule-making authority to determine how those laws are carried out. Specifically, the agency would be able to conduct impact assessments on companies deploying “high-risk practices” with regard to data. That includes companies using data to profile people on a large scale. The bill also gives the agency the power to regulate consumer scoring in sensitive areas like housing, employment and education.

The agency would have subpoena power and the ability to take companies to court over violations of federal privacy law. It would also closely monitor large companies — both in terms of revenue and in terms of the amount of data they collect — and ask for reports from these companies, to ensure they’re complying with the law. Meanwhile, the agency would be tasked with guiding Congress on emerging technologies and representing the United States in international deals regarding privacy.

Today, the federal privacy laws that do exist, like the Children’s Online Privacy Protection Act and the Fair Credit Reporting Act, are enforced by the Federal Trade Commission. The FTC Act also prohibits unfair or deceptive practices, a law that the agency has used to punish companies like Facebook for their privacy scandals. But consumer advocates have always said the FTC lacks teeth, primarily because the agency can’t levy fines on first-time offenders. Some federal privacy bills that have been introduced recently, including one sponsored by Washington Democrat Sen. Maria Cantwell, would change that, creating a new privacy bureau within the FTC and giving it more punitive powers.

But Gillibrand’s bill aims to start fresh with a brand-new agency, which would assume much of the enforcement power from the FTC. Privacy groups like the Electronic Privacy Information Center, which worked with Gillibrand’s office on the bill, view this as a welcome change.

“The FTC has failed over and over again to protect American consumers,” said Caitriona Fitzgerald, chief technology officer and policy director at EPIC. Fitzgerald points to the consent decree the FTC reached with Facebook over privacy issues in 2011. That didn’t stop Facebook from committing subsequent privacy violations that ultimately led to the Cambridge Analytica scandal. Last year, the FTC fined Facebook $5 billion, a penalty that Fitzgerald thinks was woefully inadequate. “The FTC did nothing to ensure this won’t happen again. And that’s only the latest example,” she said.

The agency Gillibrand seeks to create would be similar to the data protection authorities that oversee enforcement of the General Data Protection Regulations throughout Europe. The only difference is in the United States, there is no comprehensive data privacy law to enforce. The closest thing the U.S. has to GDPR is the California Consumer Privacy Act, which only concerns California residents. A new ballot initiative in California that seeks to rewrite CCPA would create an independent data protection agency, but that agency would still only protect Californians.

The avalanche of high-profile consumer privacy failures over the past few years has led to calls for a strong federal privacy law, including from the tech industry itself. Gillibrand’s proposal for a data protection agency is a response to that, but it stops short of proposing new limits on data use itself. In her blog post, Gillibrand pointed to an array of perceived privacy violations she wants to prohibit, from fitness apps sharing data with health insurance companies to Instagram giving advertisers access to data about its users. Her new Data Protection Agency would be able to do very little to stop that, unless Congress passed a law that said it could.

Fitzgerald says she thinks Gillibrand’s bill could be easily integrated into Cantwell’s comprehensive privacy bill in the Senate. Another comprehensive consumer privacy bill in the House that was introduced last year also calls for the creation of what it calls a “digital privacy agency.”

But some, like Mary Stone Ross, associate director of EPIC, say that even on its own, Gillibrand’s bill has value. Ross argues that it doesn’t matter what privacy laws Congress passes if there’s nobody who’s going to hold companies accountable. “On one hand it might seem a little backward, like you’re putting the cart before the horse, building the enforcement agency before you pass federal consumer privacy law, but in my mind it’s not,” Ross said. “I think the most important place to start is enforcement.”

Source: https://www.protocol.com/federal-privacy-agency-gillibrand-2645128272.amp.html?__twitter_impression=true

INTERVIEW: KABN Systems North America – A Fintech Platform Turning The Problem Of Online Privacy Into A Profit …. For You.

Posted by AGORACOM-JC at 11:02 AM on Thursday, February 6th, 2020

For some reason, we all take online privacy and identity for granted.  In the real world, we have someone verify who we are at the airport, banks and even bars by presenting ourselves in person, along with documentation (passport, drivers license, etc.)

But online we just punch in our credit card + CVV number (that one on the back) to access or buy just about anything.  The problem, as we’ve long known, is the recipient of your info has no idea if its really you, or the waiter you gave your credit card to last night at dinner.

For decades, we’ve accepted it as a cost of the convenience of credit cards, which is built into the ridiculously high % rates charged by credit card companies.

That’s all about to change.  People and governments have figured out over the past couple of years (see FACEBOOK) that too many companies know too much about us and use it to fill their pockets with insane amounts of money …. while sharing nothing with us.

Legislation has already been enacted and more is coming that will force EVERY company to re-think their business models.  The free ride is over for them and just beginning for us.

Enter KABN.  Watch this from your device, or listen to it in your car, bus or dentist’s waiting room.  KABN is private but has already announced a proposed RTO.  

We’re banging the table on how things are going to change beyond recognition this decade.  KABN is one of the companies making it possible.

WATCH.

VIDEO: A Look Inside KABN Systems N.A., with David Lucatch

Posted by AGORACOM-JC at 5:57 PM on Tuesday, January 28th, 2020

Have you ever wondered what companies are doing with YOUR personal information online and how you could benefit from it? In an all-new interview, Brandon is joined by David Lucatch, the President & Co-Founder of KABN Systems N.A. to discuss how companies are using personal data in an expanding digital world.

The company’s mission is to create a world-class suite of products and services that support the decentralized market economy, globally enabling consumers to manage their digital identity and other data to create value-based relationships in the financial and loyalty services arena.

Lucatch says identity is the next big frontier and that’s something you can profit from! To learn more go to https://kabnsystemsna.com/

#KABN North America and Torino Power Announce Definitive Agreement for Proposed Reverse Takeover of Torino Power by KABN North America

Posted by AGORACOM-JC at 11:28 AM on Tuesday, January 14th, 2020
  • Announced that they have entered into a definitive agreement dated January 13, 2020 with respect to the previously announced proposed reverse takeover of Torino Power by KABN North America
  • Proposed Transaction will be structured as an amalgamation of KABN North America and a wholly-owned subsidiary of the Company whereby the shareholders of KABN North America will receive post-Consolidation common shares of the Company in exchange for their common shares of KABN North America

Toronto, Ontario–(January 14, 2020) –  KABN Systems North America Inc. (“KABN North America“) and Torino Power Solutions Inc. (CSE: TPS) (the “Company” or “Torino Power“) are pleased to announce that they have entered into a definitive agreement (the “Definitive Agreement“) dated January 13, 2020 with respect to the previously announced proposed reverse takeover of Torino Power by KABN North America. The Definitive Agreement outlines the terms and conditions pursuant to which KABN North America and the Company will effect a business combination that will constitute a fundamental change of the Company and will result in a reverse takeover of the Company by the security holders of KABN North America (the “Proposed Transaction“). The Definitive Agreement was negotiated at arm’s length.

KABN North America is a Canadian FinTech company that specializes in continuous online Identity Verification, Identity Management and Monetization and is currently in development to launch a digital banking and financial services platform. It is developing a financial services platform in North America (the “KABN NA Platform“) that consists of:

  • KABN ID: a blockchain and biometrically based, patent-pending, EU General Data Protection Regulations (GDPR) compliant, “always on” ID validation and verification process at its core.
  • KABN Card: new types of financial and related services through a payment card-approved, digital currency-linked prepaid card and mobile banking wallet program for a variety of digital currencies and multi-currency fiat transactions.
  • KABN KASH: a robust loyalty and customer engagement platform.

KABN North America is the exclusive licensee in Canada and the United States of America of the intellectual property (the “Licensed IP“) that is comprised in the KABN ID, KABN Card and KABN KASH programs. KABN North America’s key shareholders are KABN (Gibraltar) Limited and Crypto KABN Holdings Inc. of Vancouver, British Columbia, Canada, which are the licensors of the Licensed IP.

Summary of the Transaction

The Proposed Transaction will be structured as an amalgamation of KABN North America and a wholly-owned subsidiary of the Company whereby the shareholders of KABN North America will receive post-Consolidation common shares of the Company (“Torino Shares“) in exchange for their common shares of KABN North America (“KABN Shares“).

Completion of the Proposed Transaction is subject to a number of conditions, including receipt of all necessary shareholder and regulatory approvals, including approval of the existing shareholders of the Company, and conditional approval of the Canadian Securities Exchange (the “CSE“) for the listing of the common shares of the resulting issuer (the “Resulting Issuer“) following completion of the Proposed Transaction.

In connection with the Proposed Transaction, the Company will be required to, among other things: (i) change its name to a name requested by KABN North America and acceptable to applicable regulatory authorities (the “Name Change“), (ii) consolidate its outstanding Torino Shares on a basis of ten old Torino Shares for one post-Consolidation Torino Share (the “Consolidation“) and (iii) replace certain directors and officers of the Company on closing of the Proposed Transaction with nominees of KABN North America.

Management and Board of the Resulting Issuer

Upon completion of the Proposed Transaction, it is anticipated that the persons identified below will serve as directors and officers of the Resulting Issuer:

Houssam (Sam) Kawtharani – Director

Mr. Kawtharani is a director of KABN North America and the co-founder of Corl Financial Technologies Inc., a fintech that offers data-driven growth capital to startups. Prior to co-founding Corl Financial Technologies Inc. Mr. Kawtharani was the Head of Product at IOU Financial Inc., a publicly-listed online lender, where he supported the company in originating over $500 million in loans across the United States of America and Canada through continuous product development and innovation Mr. Kawtharani is also the founder and director of Sam Kay Consultancy Inc. o/a FinBlox Labs, a fintech and blockchain advisory services firm for startups, enterprises and financial institutions. Mr. Kawtharani is also currently an advisor at KABN, AuBit International, EzyStayz Holiday Rentals Pty Ltd., OmniPsarx PBC and Trusted Inc. Holdings Limited. Mr. Kawtharani has a Bachelor of Science in computer science and business administration from the American University of Beirut and a Masters in Engineering from Concordia University.

Benjamin Kessler – Director, Interim Chief Executive Officer

Mr. Kessler has over 20 years of account management, business development, marketing and partnership experience in the financial services sector. Mr. Kessler is currently Chief Executive Officer and a director of KABN North America, as well as Chief Executive Officer of KABN (Gibraltar) Limited. Most recently, Mr. Kessler served as Managing Director, Payments Solution Group – Banc of California from January 2016 to 2017. Prior to that, Mr. Kessler served as Vice President, Global Account Management at Earthport North America TLC from 2013 to 2015. Mr. Kessler has also served as Vice President, Emerging Verticals at Mastercard Worldwide from 2006 to 2011. Mr. Kessler has a Bachelor of Arts degree from Brandeis University and a Master of Business Administration from the New York University Stern School of Management.

David Lucatch – Director, President

Mr. Lucatch has more than 30 years inventing technology and business solutions in the international marketing arena and over 20 years of that developing and taking to market internet and mobile based platforms. Mr. Lucatch has held senior management posts and directorships at both private and public media and technology firms and is currently President and a director of KABN North America. Mr. Lucatch has a Bachelor of Arts degree with a double major in commerce and economics from the University of Toronto.

J. Patrick Mesina – Director

Mr. Mesina is currently a director of the Company, KABN North America and Cortland Credit Group Inc., as well as a director and audit committee member of TSX Venture Exchange-listed Brockton Ventures Inc. Mr. Mesina presently works as a director with a Canadian based institutional investment firm, Cortland Credit Group Inc. Mr. Mesina had served as Vice President with a Toronto based institutional investment firm AIP Private Capital Inc. from March 2012 to September 2017. Since September 2017 he has been a consultant for several companies, including Vive Crop Protection Inc. and Northern Lights Partners Inc. Mr. Mesina has an Honours Bachelor of Arts degree in economics and political science from the University of Toronto.

Craig McCannell – Interim Chief Financial Officer

Mr. McCannell is currently the Chief Financial Officer of KABN North America, Chief Executive Officer of KABN (Gibraltar) Limited, and the Chief Financial Officer of Pegasus Fintech Canada Inc., a full service blockchain, technology and growth accelerator advisory firm. Mr. McCannell had served as Chief Financial Officer at two publicly traded companies and was a senior manager at Ernst & Young LLP. Mr. McCannell has an Honours Bachelor of Business Administration from Wilfred Laurier University and obtained his Certified Professional Accountant (Chartered Accountant) designation in 2002.

Ravinder Mlait – Director

Mr. Mlait has served as director of the Company since February 2015 and Chief Executive Officer of the Company since December 2015. From December 2013 to present, Mr. Mlait has served as Chief Executive Officer of Cannabix Technologies Inc., an early stage technology company listed on the CSE. Mr. Mlait has served as director and officer of Brockton Ventures Inc., a capital pool company listed on the TSX Venture Exchange since February 22, 2018. From June 2010 to present, Mr. Mlait has served as Chief Executive Officer and President of Rockland Minerals Corp., a mineral exploration company listed on the TSX Venture Exchange. Mr. Mlait obtained a Bachelor of Arts degree (Economics) from Simon Fraser University in 1999 and obtained his Masters of Business Administration from Royal Roads University in Victoria, British Columbia in 2010.

Torino Shareholder Meeting

It is anticipated that a special shareholder meeting of the Company (the “Special Meeting“) will take place in Q1 of 2020 to approve, among other matters: (i) a special resolution authorizing the Name Change; and (ii) an ordinary resolution authorizing the fundamental change of the Company resulting from the Proposed Transaction. Assuming completion of a contemplated private placement of approximately 13 million shares by KABN North America prior to completion of the Proposed Transaction, the shareholders of Torino Power following the Proposed Transaction will hold approximately 9.3% of the shares of the Resulting Issuer and the shareholders of KABN North America will hold approximately 90.7% of the shares of the Resulting Issuer.

Other Conditions Precedent

Other conditions to completion of the Proposed Transaction include, but are not limited to:

  • The representations and warranties being true and correct in all material respects as of the closing of the Proposed Transaction.
  • No material adverse change prior to completion of the Proposed Transaction.
  • The Company not having undertaken any business, other than in connection with the completion of the Proposed Transaction, from and after November 21, 2019.
  • Conditional approval by the CSE of the listing of post-Consolidation Torino Shares.
  • Cancellation of the stock options of the Company held by certain officers and directors (and former officers and directors) of the Company.
  • Resignation of certain directors and officers of the Company and its subsidiaries without payment by or any liability to the Company, its subsidiary and KABN North America.
  • KABN North America having raised aggregate gross proceeds of at least $750,000 prior to and in connection with the Proposed Transaction through issuances of KABN Shares and share purchase warrants to purchase KABN Shares.
  • No order or decree restraining the Proposed Transaction.

Termination Rights

The Definitive Agreement may, with certain exceptions, be terminated prior to the closing of the Proposed Transaction:

  • by mutual consent of TPS, its subsidiary and KABN North America;
  • by a party if a condition in its favour or a mutual condition is not satisfied by April 30, 2020;
  • by the Company or KABN North America if:
    • there has been a breach of any of the representations, warranties, covenants and agreements on the part of the other party, which breach has or is likely to result in the failure of the conditions precedent set out in the Definitive Agreement and is not cured within ten business days following receipt by the breaching party of written notice of such breach by the non-breaching party;
    • any permanent order or decree preventing the consummation of the Proposed Transaction has become final and non-appealable;
    • the other party (or the board of directors or any committee of such party) withdraws or modifies in a manner adverse to the initial party its approval of the Definitive Agreement or its recommendation to shareholders to vote in favour of the resolutions necessary to the completion of the Proposed Transaction; or
    • the Proposed Transaction is not completed by April 30, 2020.

Trading Halt

Trading in the Torino Shares will remain halted until all the requirements of the CSE have been met and the resumption of trading is approved by the CSE.

For more information, please visit www.torinopower.com or contact Bryan Loree at 604-808-2225 or [email protected].

On behalf of the Board of Directors of Torino

“Rav Mlait”

CEO and Director
Torino Power Solutions Inc.

On behalf of the Board of Directors of KABN North America

“David Lucatch”

President and Director
KABN Systems North America Inc.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

As noted above, completion of the Proposed Transaction is subject to a number of conditions. The Proposed Transaction cannot close until the required shareholder approval is obtained in respect of the applicable matters. There can be no assurance that the Proposed Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or listing statement of the Company to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Torino should be considered highly speculative.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities under the KABN Financing in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the Proposed Transaction, expectations regarding whether the Proposed Transaction will be consummated, including whether conditions to the consummation of the Proposed Transaction will be satisfied, the timing for holding the special meeting of shareholders of the Company and the timing for completing the Proposed Transaction, expectations for the effects of the Proposed Transaction or the ability of the combined company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability to consummate the Proposed Transaction; the ability to obtain requisite regulatory and shareholder approvals and the satisfaction of other conditions to the consummation of the Proposed Transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the Proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Proposed Transaction. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

Not for distribution to United States newswire services or for release publication, distribution or dissemination, directly or indirectly, in whole or in part, in or into the United States.

#KABN and #XTM to Bring Digital Currency #Crypto Prepaid Cards to Canadians

Posted by AGORACOM-JC at 4:59 PM on Monday, August 12th, 2019
  • Entered into an initial agreement to partner with XTM Inc. a Toronto based Fintech Company and global card issuer, payment specialist, and marketing solutions company.
  • The partners will launch the Pegasus Flyte Prepaid Card to the Canadian market, allowing consumers to spend traditional and digital currencies at both brick and mortar and online merchants as easily as cash.

Toronto, Ontario–(August 12, 2019) – KABN Systems North America Inc. (“KABN”), a Fintech solutions company, specializing in next-generation, patent pending, transportable online identity verification as well as financial and loyalty related services, has entered into an initial agreement to partner with XTM Inc. (“XTM”), a Toronto based Fintech Company and global card issuer, payment specialist, and marketing solutions company. The partners will launch the Pegasus Flyte Prepaid Card to the Canadian market, allowing consumers to spend traditional and digital currencies at both brick and mortar and online merchants as easily as cash.

KABN provides state of the art, Always On identity verification and validation services at no charge to consumers, allowing them to prove their identity continuously without the hassle of verifying time and time again to a growing list of online service providers, programs and Exchanges. In turn, validated users are qualified, subject to permissions and necessary approvals, for unique and customized financial services, major merchant loyalty and incentive programs and other value-based opportunities.

For merchants, service providers, Exchanges, digital banks and other online programs, KABN provides its proprietary world class KYC (know your customer), KYB (know your business) and AML (anti-money laundering) services through its fully compliant GDPR (European General Data Protection Regulation) platform, via a proprietary value-based proposition, subsidizing the traditional costs of onboarding users.

Powered through the XTM Payment Platform, the Pegasus Flyte Prepaid Card program, expected to launch in Q4 2019, will enable Canadians to spend traditional fiat and digital currencies from approved financial institutions, Exchanges, wallets and loyalty programs anywhere that current prepaid services are accepted. Cardholders will have a mobile app and a host of value-based services available to them similar to traditional banking programs.

“XTM is thrilled to have been selected to support KABN. This company is an innovator and disrupter in the Fintech space, exactly our target-partner,” said Marilyn Schaffer, XTM CEO. “With our robust platform features we plan to propel KABN’s Pegasus Flyte program to new heights in prepaid.”

In June 2016, the Canadian Prepaid Providers Organization released the first-ever benchmark study conducted by Mercator Advisory Group entitled, Canadian Open-Loop Prepaid Market: 2015, that revealed that the open-loop prepaid card market reach $3.1 Billion CDN in total dollars loaded onto cards in Canada.

Additionally, in 2017 the CCPO released the report How Canadians Pay Today and it revealed that 13% of those surveyed are using their bank account less and prepaid cards in Canada have the highest level of growth and satisfaction amongst payment tools with a 95% satisfaction rate with reloadable prepaid cards.

“We are very excited to be rolling out our Pegasus Flyte card program in North America,” said Ben Kessler, Global CEO KABN. “We looked for a partner who not only could get us to market quickly but who could also do it effectively, and efficiently without missing a step. XTM is that partner for KABN.”

The KABN and Pegasus Flyte programs focus primarily on the growing Gen Z, Millennial and late Gen X demographic who are consistently exploring new and innovative ways, outside of traditional banking, to manage both their financial services, loyalty, points and other digital currency transactions.

Pegasus Flyte cardholders will automatically be entitled to participate in KABN KASH, a customized consumer experience where users can save money every time they shop at key merchants.

KABN will be showcasing its solutions, as well as providing a keynote address at The Futurist Conference (www.futurist19.com) in Toronto on August 13th and 14th.

About KABN – www.kabnsystemsna.com

KABN Systems North America Inc. operates the Canadian and US programs of the global KABN Network. KABN provides an Always On patent pending identity validation and verification platform, allowing users to continuously and confidently prove themselves to the online community, Exchanges and other services. KABN’s identity services provide the backbone to its financial, loyalty and engagement programs including the Pegasus Flyte Prepaid Card program and KABN KASH, an innovative cash back program where users are connected to major merchants for savings when they shop.

AXEL Partners with #KABN to Support Adoption of #Blockchain Based Platform with User Verification and Attributes Technology

Posted by AGORACOM-JC at 3:10 PM on Wednesday, April 10th, 2019
  • AXEL, a leader in data privacy and data custody announced today a partnership with KABN
  • Using KABN’s BVUP will greatly enhance the value and security levels of AXEL’s ecosystem for existing and new development teams and users, by creating a verification and non-private attribute whitelist, which will improve content development and sharing

LAS VEGAS, NV –AXEL, a leader in data privacy and data custody announced today a partnership with KABN, an integrated financial solutions platform that will implement its Blockchain Verification User Platform (“BVUP”) to the recently launched AXEL.Network, a global, decentralized platform.  Using KABN’s BVUP will greatly enhance the value and security levels of AXEL’s ecosystem for existing and new development teams and users, by creating a verification and non-private attribute whitelist, which will improve content development and sharing.

“Partnering with KABN is a great opportunity to continue providing users everywhere with real solutions for data privacy and ownership,” noted Ben Ow, President and CTO of AXEL. “KABN is a company that shares our vision and offers innovative technology that will strengthen the development of our AXEL.Network platform, as well as build a strong community for our project.” 

AXEL and KABN will be working together to verify users on AXEL’s super node, creating a known community of users.  As the program progresses, more aggregated public attributes data will become available through various incentive and interactive solutions.  This will provide existing and new developers who engage with AXEL, the ability to reach a rapidly growing list of community members, leading to a potentially faster engagement cycle for projects on the AXEL platform. 

“We’re very excited to announce our partnership with AXEL as we assist them with their verification and public attributes program,” said Ben Kessler, CEO KABN. “Together, we will be making it easier for developers and users to engage in the AXEL ecosystem.”

About AXEL

AXEL is committed to providing users with true ownership over their data, with dynamic easy-to-use technology solutions for file sharing, access, security and privacy, transfer, streaming and integration, from one platform.

With operations in North America, Asia and Europe, the company’s veteran team built a suite of proprietary software products already used by millions of people globally, with patented technology and a user-friendly app that works across Windows, Mac, iOS and Android. The AXEL platform allows users to link digital content across all of their devices, without using a third-party. 

The company just launched AXEL.Network, a global decentralized network to help foster the movement from centralized to decentralized computing.  For more information, please visit AXEL or AXEL.Network and follow us on Discord, Twitter and Medium.

About KABN

KABN, an integrated financial service platform offering neo banking type solutions, has received approval by Visa to launch its crypto-linked card and banking wallet program.  KABN has partnered with Transact Payments Ltd, a European e-money institution and Principal Member of Visa, global processor GPS and platform technology provider Pannovate to launch the program in the UK and subsequently the EEA in the 2nd quarter of the year.  

Branded the Pegasus Flyte Visa card, the KABN card program offers an “on/off ramp” conversion process for a variety of cryptocurrencies to fiat together with multi-currency fiat transactions. Cardholders will be able to use their Pegasus Flyte Visa cards to spend in-store, online, and at ATMs wherever Visa is accepted globally. 

The Pegasus Flyte program will also offer a robust loyalty and customer engagement platform. The anchor of the program is KABN ID, a Blockchain and biometrically-based, “Always On” validation and verification process. This patent-pending, GDPR compliant process allows for efficient and frictionless customer acquisition and onboarding.  Learn more at www.kabn.network.

For AXEL, please contact:

Jeremy Forsberg, CMO and VP

[email protected]

702-948-9770