LONDON, April 12, 2022 (GLOBE NEWSWIRE) -- Midpoint Holdings Ltd (TSXV: MPT) (Frankfurt: 8MH1) (“Midpoint” or the “Company”) is pleased to announce that all matters presented at its annual general and special meeting of shareholders, held on April 8, 2022, were passed. Today, the following management and board changes were enacted.
CEO & President
Domenic Carosa has been appointed as CEO & President of the Company effective immediately. Mr. Carosa has over 25 years of experience combining business and technology. He is Founder and Chairman of TSX Venture Exchange listed Banxa Holdings Inc and has founded and co-founded numerous other blockchain focused companies over the past 8 years. He was the Founder of the recently acquired Blockchain World Ltd (BWL) business which owns a number of premium domain names including Blockchain.eu (Europe) and Blockchain.com.au (Australia).
CFO
Konstantin Lichtenwald has been appointed as CFO and Company Secretary of the Company effective immediately. Mr. Lichtenwald has over 15 years of finance and accounting experience, including public company compliance, corporate finance, accounting and financial management. He currently holds director or officer positions in a number of publicly listed companies. He is a member of the Chartered Professional Accountants of British Columbia, as well as the Chartered Professional Accountants of Canada.
Corbin Comishin steps down as the CFO but remains as non-executive director of Midpoint. “I look forward to supporting Konstantin and Domenic in their new roles”. The Board would like to expressly thank Corbin for his years of service as CFO and is pleased to receive his continued participation as a director.
New Director
Justin Rosenberg has been appointed as a non-executive Director of the Company effective immediately. Since working as a Chartered Accountant with Arthur Andersen, Mr. Rosenberg has advised and raised capital for start-ups for over 20 years. These have included companies listed on the Australian Securities Exchange (ASX) and the TSX Venture Exchange. Justin has also acted as Chairman, Director and Company Secretary for companies on the ASX. Justin's focus has been on SaaS and Fintech (including blockchain) start-ups and recently advised Banxa Holding Inc on its IPO on the TSX Venture exchange and subsequent capital raising. Justin is originally from Sydney, Australia and is now based in Toronto, Canada.
Retirements
Derek Ivany has retired as director, CEO and President of the Company to make way for the above noted changes. In departing, Derek commented, “I would like to thank the entire Midpoint team for their hard work and perseverance along with our stakeholders for their patience and support.”
He continued, “During my tenure as CEO, my primary aim was to enhance the financial stability of Midpoint via recapitalization of the treasury. Additionally, focus was placed on identifying synergistic M&A opportunities within the FinTech sector that would build upon the company’s core FX platform with a view towards continued growth. Having completed two successful capital raises in addition to the recently consummated transaction with BWL, I feel confident that Midpoint is well positioned for the future. Moreover, Domenic possesses an enviable skill set and expertise within the burgeoning FinTech arena that will surely benefit the Company moving forward.” The Company thanks Derek for his significant contribution that has placed Midpoint in a strong growth footing.
Domenic Carosa commented “Our first task at hand is to complete a strategic review of the existing assets which include numerous financial regulatory licenses in the UK, Canada and HK. Furthermore, I am looking forward to building several successful blockchain companies which leverage the existing Midpoint platform combined with our deep knowledge of the blockchain sector.”
According to Markets and Markets, from 2020 - 2025 the global blockchain market size is expected to grow at a CAGR of 67.3%, reaching $39.7 billion by 2025. Further, according to Statista, the financial sector currently accounts for more than 60% of blockchain's worldwide market value. In line with these potentially accelerating market trends, Midpoint believes there is an opportunity to capture synergies between its existing foreign exchange platform and the blockchain business of BWL. Midpoint's core competency in the consumer-facing foreign exchange space lends itself to expansion via broadened scope and potential product offerings within the digital asset sector.
About Midpoint
Based in London and Amsterdam, Midpoint operates two businesses; Blockchain World Limited (BWL) which is incubating a number of blockchain based businesses and www.Midpoint.com which operates an FCA licenced foreign exchange business. Midpoint Holdings Limited is listed on the TSX Venture Exchange and cross-listed on the Frankfurt Stock Exchange.
For information on Midpoint, please visit: https://www.midpoint.com.
On behalf of the board of directors and for further information please contact:
Domenic Carosa, CEO & President
https://twitter.com/dcarosa
Midpoint Holdings Limited
dom@midpoint.com
(+1-888-218-6863)
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this news release.
Forward-looking information
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing Midpoint and its business and affairs, readers should refer to Midpoint’s Management’s Discussion and Analysis. Midpoint undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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