FintechWerx Announces Letter of Intent to Acquire Ruby Loans Technology Assets

Vancouver, British Columbia – TheNewswire - 7 May, 2026 - FintechWerx International Software Services Inc. (CSE: WERX) (“FintechWerx” or the “Company”) has entered into a confidential, non-binding letter of intent dated May 7, 2026 (the “LOI”) with 1431575 B.C. LTD. (the “Vendor”), an arm’s length third party, regarding a proposed transaction contemplating the acquisition by FintechWerx of certain intellectual property and technology assets related to the Vendor’s proprietary “Ruby Loans” platform. There can be no assurance that the parties will enter into a definitive agreement or that the proposed transaction will be completed.

Ruby Loans is an advanced development stage platform solution for small and medium-sized (SME) enterprise lending, that places the initiation of a credit enquiry in the hands of the borrower and automates significant portions of what continues to be a manual process involved in preparing business loans and mortgage files for adjudication.

The technology is designed to support a gated process from borrower enquiry and document intake through financial and risk evaluation, generating a more complete and decision-ready loan application prior to the involvement of credit risk personnel. The platform is intended to support lenders and financial institutions seeking to improve workflow efficiency and the borrower experience in SME lending. For more information visit RubyLoans.ca (information contained therein has not been independently verified by the Company).

Under the terms of the LOI, the parties intend to negotiate a definitive agreement pursuant to which FintechWerx would acquire the Ruby Loans intellectual property and related technology assets. FintechWerx would acquire the technology for consideration payable in a combination of cash and common shares in the capital of FintechWerx, subject to a maximum purchase price of C$550,000 and final terms to be determined through mutual due diligence and the negotiation of definitive documentation.

The potential transaction remains subject to customary conditions, including the completion of mutual business and legal due diligence, the negotiation and execution of a definitive agreement to the satisfaction of the parties, and the receipt of all required corporate and regulatory approvals, including the approval of the Canadian Securities Exchange (the “CSE”).

The LOI does not create a binding obligation on either party to complete the proposed transaction, except with respect to certain customary binding provisions.

The proposed acquisition is intended to expand FintechWerx’s capabilities in digital lending workflow automation, according to George Hofsink, Co-Founder and CEO of FintechWerx.

“Loan origination for small business financing remains burdened by manual processes and fragmented workflows,” says Hofsink. “Ruby Loans represents a practical platform solution that aligns with our strategy to help modernize fintech infrastructure through solutions that improve efficiency, readiness, and borrower engagement.”

FintechWerx will provide further updates as material developments occur, in accordance with applicable securities laws and the policies of the CSE.

About FintechWerx

FintechWerx is a Canadian financial technology company providing onboarding, payments, identity verification, fraud mitigation, and data services to merchants, independent sales organizations, and payment service providers, offering an altrnative to the need for a patchwork of providers. Additional information is available at www.sedarplus.ca or on the Company’s website at www.FintechWerx.com.

For more information, please contact:

Francisco Carasquero, FintechWerx Co-Founder and CFO
FintechWerx International Software Services Inc.
Phone: (236) 761-WERX (9379)
Email: [email protected]
Website: www.FintechWerx.com
Twitter: www.X.com/fintechwerx

Forward-Looking Information

This press release contains forward-looking statements within the meaning of applicable Canadian securities legislation, which statements involve risks and uncertainties. Forward-looking statements generally relate to future events or FintechWerx’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “can,” “will,” “would,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “forecasts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern FintechWerx’s expectations, strategy, plans or intentions.

Forward-looking statements contained in this press release include, but are not limited to, statements about: FintechWerx’s anticipated strategies and business plans, including but not limited to the proposed acquisition and commercialization of Ruby Loans technology, the proposed asset purchase transaction contemplated by the LOI with the Vendor, the anticipated negotiation and execution of a definitive agreement, the completion of mutual business and legal due diligence, and FintechWerx’s expectations regarding the future utility and performance of acquired technology assets.

You should not rely upon forward-looking statements as predictions of future events. Although FintechWerx believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, FintechWerx can give no assurance that such expectations will prove to be correct. In making the forward-looking statements in this news release, FintechWerx has applied several material assumptions, including without limitation, that the parties to the LOI will successfully complete their respective due diligence investigations, that a definitive agreement will be negotiated and executed on terms satisfactory to the parties, that market fundamentals will support commercialization of the acquired technology, the availability of financing and expertise required for FintechWerx to carry out its planned future activities, the successful transfer and maintenance of the acquired technology and related intellectual property, the availability of and the ability to retain and attract qualified personnel, and the ability to maintain and strengthen its strategic partnerships in the industry.

The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause FintechWerx’s actual results, performance, or achievements to differ materially from those described in the forward-looking statements, including, among other things: the risk that the proposed transaction contemplated by the LOI may not be completed as contemplated or at all; the risk that a definitive agreement may not be entered into; the impact of macroeconomic uncertainties and market volatility; FintechWerx’s financial performance, including expectations regarding its results of operations and the assumptions underlying such expectations, and ability to achieve and sustain profitability; FintechWerx’s ability to attract and retain customers; FintechWerx’s ability to compete effectively in an intensely competitive market; FintechWerx’s reliance on third-party technology providers; FintechWerx’s ability to comply with modified or new industry standards, laws and regulations applying to its business, and increased costs associated with regulatory compliance.

Forward-looking statements represent FintechWerx management’s beliefs and assumptions only as of the date such statements are made. FintechWerx undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

The Canadian Securities Exchange nor the Canadian Investment Regulatory Organization has neither approved or disapproved of the contents of this press release.

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