HammerPay (USA) Ltd., a Subsidiary of Hammer Fiber Optics Holdings Corp. (HMMR), Gears Up for Significant Growth Milestone in Fintech Sector
Hammer Fiber Optics Holdings Corp. (HMMR) is undergoing a major restructuring to transition from a traditional telecom company to a diversified entity with a strong focus on financial technology (FinTech). Its subsidiary, HammerPay (USA) , has launched a revolutionary digital wallet and neo-banking ecosystem, starting with the successful launch of the UBA Remit Wallet in Liberia in August 2023. The company aims to expand its FinTech presence across Africa and beyond, partnering with local ISPs like Spectrum Communications - Liberia. This strategic pivot includes divesting telecom assets to repurchase shares and fund technology advancements, minimizing shareholder dilution. HammerPay plans to transition to a more liquid senior exchange, anticipating higher profitability and increased capital availability.
- Successful launch of UBA Remit Wallet in Liberia.
- Expansion plans across Africa and beyond.
- Partnership with Spectrum Communications - Liberia.
- Strategy to repurchase shares reduces shareholder dilution.
- Revenue growth in HammerPay's FinTech initiatives.
- Plan to transition to a larger, more liquid senior exchange.
- Focus on leveraging FinTech innovations for growth.
- Divestment of telecom assets could present risks in transitioning focus.
- Dependence on successful partnerships and market acceptance in new regions.
- Potential challenges in scaling operations across diverse markets.
New York, New York--(Newsfile Corp. - May 29, 2024) - Hammer Fiber Optics Holdings Corp. (OTC Pink: HMMR) has undertaken a sweeping restructuring initiative, transforming from a traditional telecommunications entity into a diversified holdings company with a focus on financial technology (FinTech) innovations. This strategic pivot is designed to enhance shareholder trust and establish robust, profitable business centers.
The company has harnessed newly acquired financial and managerial expertise to achieve its goals. The mission is clear: to elevate overall performance and transparency through dynamic media communications allowing for stakeholders and customers alike to connect with the company in more potent ways.
At the heart of Hammer Group's diversification strategy is its trailblazing subsidiary, HammerPay (USA) Ltd. This FinTech innovator has developed a revolutionary digital wallet and neo-banking ecosystem aimed at transforming digital banking for the unbanked population worldwide. The journey began with the August 2023 launch of the UBA Remit Wallet in partnership with United Bank of Africa (UBA) in Liberia. This groundbreaking collaboration has set the stage for an ambitious expansion.
"Riding the success of the Liberia pilot program, HammerPay is on an aggressive mission to sign new banking partners and customers, extending its footprint across Africa and beyond," said Michael Cothill, Hammer's Executive Chairman. "The recent partnership with local ISP, Spectrum Communications - Liberia, underscores this strategic expansion, aimed at addressing the diverse financial needs of consumers and businesses with unparalleled convenience, security, and accessibility."
With its versatile and scalable platform, HammerPay seeks to become a dominant force in the global FinTech landscape. The company is paving the way for exponential growth and far-reaching impact. Gerald Sherman, CEO of HammerPay, added "We are thrilled to announce the expansion of HammerPay, a testament to our dedication to innovation and customer-focused service. By signing new banking partners and customers, we are not only strengthening our presence in Liberia but also unlocking new opportunities across Africa. We are excited to embark on this journey to connect with our customers and empower millions of individuals and businesses with seamless, secure, and accessible financial solutions."
To fuel its technology initiatives the company's board of directors has approved a strategy, previously announced in a letter to shareholders, to divest its telecommunications assets. This restructuring will enable the company to repurchase its own shares while generating additional funds for technology advancements, minimizing dilution for common shareholders. With HammerPay revenues on the rise and plans to transition its FinTech initiatives to a larger, more liquid senior exchange, the company anticipates a significant boost in profitability and increased capital availability. By leveraging FinTech innovations and expanding into new markets, Hammer Group is not just poised for growth but is set to make a lasting impact on the global financial landscape.
About HammerPay
HammerPay (USA) Ltd, a wholly owned subsidiary and brand operated by Hammer Fiber Optics Holdings Corp., is a mobile-first digital technology product, powering stored-value digital services for businesses and consumers, including those previously left outside the digital revolution. HammerPay was developed to scale a highly attractive digital cash/cashless solution to be deployed along with partners around the world, delivering expertise for both developed and developing economies. HammerPay connects mobile consumers to cashless purchasing and bill payments, instantly enabling consumer broad adoption. For more information, contact Investor Relations at info@hammerpay.com.
About Hammer Fiber Optics Holdings Corp.
Hammer Fiber Optics Holdings Corp. (OTC Pink: HMMR) is a company investing in the future of technology. Hammer has broadened its strategy to focus on the rapidly evolving world of innovative technology and in an effort to keep pace, has restructured the group to allow for the creation of several related verticals. Hammer has entered the Fintech industry which is rapidly becoming the mainstream technology powering today's telecommunication applications. For more information contact Investor Relations at info@hmmrgroup.com.
Forward-Looking Statements
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
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