CannaOne Establishes its Strategic Advisory Board with the Appointment of Senior Corporate Finance Executive - March 23, 2021
CannaOne Establishes its Strategic Advisory
Board with the Appointment of Senior
Corporate Finance Executive
Announces Corporate name change to reflect expanded
Business Model
Vancouver, British Columbia--(Newsfile Corp. - March 23, 2021) -
CannaOne Technologies Inc.
(CSE: CNNA) (OTC PINK: CNONF) (FSE: 3CT) ("CannaOne" or the "Company")
is pleased to
announce Mr. Robert Yu as its first appointment to the newly formed Strategic Advisory Board of the
Company. Mr. Yu brings a depth of insight and expertise from the global financial sector to the
CannaOne organization.
Mr. Yu has deep industry and market knowledge in the Company's target market with a career
specializing in structuring and facilitation of a broad array of financings and and acquisitions.
Known for
developing efficient solutions to difficult problems while ensuring alignment to targeted business roll-out
and growth strategies. This inaugural addition to the Strategic Advisory Board, will greatly assist to
strengthen our ever-expanding network and to enhance our recognition as Pan-Global leaders in the
Fintech sector.
"As we look to our future growth trajectory, it is critical that our Company receive timely insight and
guidance from industry experts familiar not only with the digital financial services sector at large, but with
the geography, demography and business culture of the regions that we look to operate and expand our
network infrastructure and service footprint." stated Mr. Mike Penner, President and CEO.
Mr. Yu currently is a Principal at Sierra Madre Advisors, a Manila-based private equity firm, investing in
Philippine companies and entities that can become leaders in their sector(s), actively engaging with
them to deliver significant change in their trajectory through strategy development, upgraded governance
and operational improvement.
Prior to joining Sierra Madre, Mr. Yu served as an Interim CFO capacity for Converge ICT, focused on
crafting a more efficient capital structure for the Company.
He negotiated ~US$ 350 million of debt
financing from various local banks and helped raise ~US$ 200 million of strategic equity investment from
a private equity sponsor.
Since moving full-time to Asia in 2014, Mr. Yu has been active in various finance roles in the investment
banking and private equity sector, where he was responsible for origination, structuring and execution of
M&A and capital raising transactions.
Among the projects that he has spearheaded are the US$ 1
Billion+ sale of AES Corporation's majority stake in Masinloc Power to San Miguel Corporation
(Philippines) and the US$ 780 million acquisition of 20% of Security Bank (Philippines) by Bank of
Tokyo Mitsubishi UFJ.
Mr. Yu previously served as a Vice President for Morgan Stanley in Hong Kong from 2015-2018, a
Senior Associate at Lake Capital Partners in Chicago from 2010 - 2013, and as an Analyst for Citigroup
in New York from 2007 - 2009. His capabilities to conduct and navigate international business
transactions that require real world emerging market expertise pertaining to general economic
conditions, industry trends, regulatory requirements, and other relevant items of consideration have
always been recognized as traits of enormous inherent value.
Mr. Yu's transaction experience and long term standing in the Asian market positions him
perfectly to identify more investment and acquisition opportunities for CannaOne.
PLANNED NAME CHANGE
Subject to all necessary approvals, including that approval of the CSE,
the company intends to proceed
with a change of its name to Lynx Global Digital Finance. Further details will be announced when
available.
"The team has worked very hard to bring to closure on many various initiatives over the recent months -
we are now bringing many of these projects to closure and it is a fantastic feeling. We are really
developing a deep bench as far as management talent - and I am very optimistic about what the future
will bring. To be able to attract talent like Mr. Yu is also a great sign of things to come. We have identified
a great market opportunity and I look forward to growing our Company to meet an obvious market need."
Stated Mike Penner, CEO, CannaOne.
ABOUT CANNAONE TECHNOLOGIES:
Since inception Cannaone has focused on development and deployment of its proprietary online
marketplace platform. Integral to the true intent and directive of the long-term planning of these
development efforts was an early-stage technology agreement to allow for integration of a payment and
financial technology platform to facilitate merchant sales within its online platform. As such, since March
2017 the company has worked closely with payment technology providers in SE Asia, to ascertain the
pathways to the greatest potential for future growth in the world's fastest growing digital payment
markets. With the existence of ever-evolving international relationships with parties specifically focused
on the facilitation of payment processing and bank acquiring infrastructure, the Company sees potential
to increase revenue over time with the continued integration and utilization of complete payment
processing capabilities within our online marketplace solutions. The Company will look to expand its
online client portfolio to include additional business sectors, such as those to most effectively service the
payment processing requirements of e-commerce providers.
CannaOne seeks to become a global leader in financial technology, solutions, and services for
merchants as it works hand in hand with select niche banking partners. CannaOne intends to integrate
PCI certified payment solutions with its proprietary and proven online marketplace technology platform to
offer a truly comprehensive suite of products and services to serve B-to-B merchant clientele. The
Company has targeted banking relationships outside of North America, (specifically in SE Asia),
and by
working with selected banking or licensed EMI partners, our solutions may include merchant acquiring
solutions; integrated payment solutions; global eCommerce solutions; core processing and ancillary
applications solutions; digital and online marketplace solutions, including internet, mobile and eBanking;
fraud, risk management and compliance solutions; electronic funds transfer and network services
solutions; and/or card and online retail payment solutions. The Company is focused on organic growth
while investigating potential strategic acquisitions, that may contribute critical technology applications,
services and immediate revenue streams that can complement or enhance our existing offerings and
potentially increase or expedite our path to future profitability. While Cannaone believes that significant
near-term opportunities exist for the Company's solutions, there can be no assurance that customer
agreements will be reached or that such agreements will be profitable should they be implemented.
For more information, please contact:
Michael Penner, CEO
(604) 396-9974
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES
PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
The securities referred to herein will not be registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from registration requirements.
FORWARD-LOOKING STATEMENTS:
Certain information contained herein may constitute "forward-
looking information" under Canadian securities legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as, "will be", or variations of such words and
phrases or statements that certain actions, events, or results "will" occur. Forward-looking statements
are based on the Company's estimates and are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance, or achievements of
CannaOne and Vasu to be materially different from those expressed or implied by such forward-looking
statements or forward-looking information, including capital expenditures, other costs, or implied future
forecasts. There can be no assurance that the acquisition of an interest in Vasu will be completed on the
terms described herein, or at all.
The Company further again cautions that all forward-looking statements
are inherently uncertain, and that actual performance may be affected by a number of material factors,
many of which are beyond the Company's control. Such factors include, among other things: risks and
uncertainties relating to the Company's limited operating history and the need to comply with
environmental and governmental regulations. 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
information. CannaOne will not update any forward-looking statements or forward-looking information
that are incorporated by reference herein, except as required by applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/78318