- Lynx Global Digital Finance has signed a definitive agreement to acquire a controlling interest in Arkin Technologies
- Lynx Global is acquiring a 51 per cent stake in Australian-based Arkin
- Arkin is an Australian Transaction Reports and Analysis Centre
- The acquisition is expected to close on or before April 30, 2021
- Lynx Global Digital Finance is up 0.14 per cent on the day, with shares of the company trading at C$1.03 at 10:43 am ET
Lynx Global Digital Finance has signed a definitive agreement to acquire a controlling interest in Arkin Technologies.
Lynx Global is acquiring a 51 per cent stake in Australian-based Arkin.
Arkin is an Australian Transaction Reports and Analysis Centre, the registered holder of a Remittance license and Digital Currency Exchange Services Provider license in Australia.
The acquisition is expected to close on or before April 30, 2021.
“Adding Australia to our network of linked licensed operations is a significant step in our strategy to build a regional fintech payment platform. When this transaction is completed we will be connecting Singapore, Philippines and Australia as a single bi-directional remittance corridor that we can layer on the additional payment services from each operating company,” said Lynx Global CEO Mike Penner.
Under the terms of the agreement, Lynx Global “will acquire a 51 per cent equity interest in the issued and outstanding common shares of Arkin in exchange for 1,114,364 common shares of the company and an option to purchase 250,000 common shares of the company entitling the holders to acquire an additional 250,000 common shares of the company at a price per share equal to the closing price of the shares on the last trading day prior to the closing date.”
Lynx Global continues to focused on the development and deployment of its proprietary online marketplace platform.
The company 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.
Lynx Global Digital Finance is up 0.14 per cent on the day, with shares of the company trading at C$1.03 at 10:43 am ET.