The Melrose Ventures Group Issues Early Warning Report
Melrose Ventures and its joint actors have announced a takeover bid for Hank Payments Corp, aiming to acquire a controlling interest by purchasing a minimum of 8.5 million shares or enough to exceed 51% ownership. The group currently holds a combined direct and indirect ownership of 20.53% (approximately 15 million shares) of the company's 73.15 million outstanding shares. The joint actors include Intelligent Payment Processing Inc, Shawn Carden, and First Canadian Capital Corp. Their stated purpose is to acquire controlling interest and rebuild the business and share value.
Melrose Ventures e i suoi attori congiunti hanno annunciato un'offerta pubblica di acquisto per Hank Payments Corp, con l'obiettivo di acquisire un interesse di controllo acquistando un minimo di 8,5 milioni di azioni o sufficienti per superare il 51% della proprietà. Il gruppo attualmente detiene una partecipazione combinata diretta e indiretta del 20,53% (circa 15 milioni di azioni) delle 73,15 milioni di azioni in circolazione della società. Gli attori congiunti includono Intelligent Payment Processing Inc, Shawn Carden e First Canadian Capital Corp. Il loro scopo dichiarato è acquisire un interesse di controllo e ricostruire l'attività e il valore delle azioni.
Melrose Ventures y sus actores conjuntos han anunciado una oferta de adquisición por Hank Payments Corp, con el objetivo de adquirir una participación de control comprando un mínimo de 8,5 millones de acciones o suficientes para superar el 51% de propiedad. El grupo actualmente posee una participación combinada directa e indirecta del 20,53% (aproximadamente 15 millones de acciones) de las 73,15 millones de acciones en circulación de la compañía. Los actores conjuntos incluyen Intelligent Payment Processing Inc, Shawn Carden y First Canadian Capital Corp. Su propósito declarado es adquirir una participación de control y reconstruir el negocio y el valor de las acciones.
멜로즈 벤처스와 그 공동 행동자들은 행크 페이먼츠 Corp에 대한 인수 제안을 발표하며, 최소 850만 주를 구매하거나 51% 이상의 소유권을 초과하는 만큼의 주식을 구입하여 지배 지분을 인수할 계획입니다. 이 그룹은 현재 회사의 7315만 주의 유통 주식 중 약 1500만 주 (20.53%)의 직접 및 간접 소유권을 보유하고 있습니다. 공동 행동자에는 인텔리전트 페이먼트 프로세싱 Inc, 숀 카든, 퍼스트 캐나다 캐피탈 Corp이 포함됩니다. 그들의 명확한 목적은 지배 지분을 인수하고 사업과 주식 가치를 재건하는 것입니다.
Melrose Ventures et ses acteurs conjoints ont annoncé une offre publique d'achat pour Hank Payments Corp, visant à acquérir un intérêt de contrôle en achetant un minimum de 8,5 millions d'actions ou suffisamment pour dépasser 51% de propriété. Le groupe détient actuellement une participation directe et indirecte combinée de 20,53% (environ 15 millions d'actions) sur les 73,15 millions d'actions en circulation de la société. Les acteurs conjoints incluent Intelligent Payment Processing Inc, Shawn Carden et First Canadian Capital Corp. Leur but déclaré est d'acquérir un intérêt de contrôle et de reconstruire l'entreprise ainsi que la valeur des actions.
Melrose Ventures und seine gemeinsamen Akteure haben ein Übernahmeangebot für Hank Payments Corp angekündigt, mit dem Ziel, eine kontrollierende Beteiligung zu erwerben, indem sie mindestens 8,5 Millionen Aktien oder genügend kaufen, um mehr als 51% Eigentum zu überschreiten. Die Gruppe hält derzeit eine kombinierte direkte und indirekte Eigentümerschaft von 20,53% (etwa 15 Millionen Aktien) der 73,15 Millionen ausstehenden Aktien des Unternehmens. Zu den gemeinsamen Akteuren gehören Intelligent Payment Processing Inc, Shawn Carden und First Canadian Capital Corp. Ihr erklärtes Ziel ist es, eine kontrollierende Beteiligung zu erwerben und das Geschäft sowie den Aktienwert wiederherzustellen.
- Clear acquisition strategy with defined target of 51% ownership
- Significant existing stake of 20.53% demonstrates serious commitment to takeover
- Uncertainty regarding future management and corporate structure changes
- Potential impact on minority shareholders not addressed
Founders & Operators make required disclosure of its "Toehold" under the Early Warning Requirements in its Takeover of Hank Payments Corp.
Early Warning Disclosure Document
Form 62-103F1
Required Disclosure under the Early Warning Requirements
This report is not filed to amend information disclosed in an earlier report.
Item Security and Reporting Issuer
1.1 Designation of securities: Common shares
Name and address of the head office of the issuer: Hank Payments Corp, Toronto, ON
1.2 Name of the market: TSX Venture Exchange (TSX.V)
Item 2 â€" Identity of the Acquiror
2.1 Name and address of the acquiror:
Melrose Ventures LLC,
5935 Premier Way,
Naples, FL 34109
2.2 Date of the transaction: November 2, 2024
Description of the transaction: Melrose Ventures, along with its joint actors, has announced a Toehold position & takeover bid to acquire a controlling interest in Hank Payments Corp by purchasing a minimum of 8.5 million shares OR the number of shares necessary to bring their stake above
51% .
2.3 Names of any joint actors:
Intelligent Payment Processing Inc
Shawn Carden
First Canadian Capital Corp
Item 3 Interest in Securities of the Reporting Issuer
3.1 Designation and number of securities acquired or disposed of:
Direct
Melrose Venture Group of Joint Actors: 0 shares (prior to the takeover)
Intelligent Payment Processing Inc: 6,836,767 shares directly owned and controlled FOUNDERS SHARES
Shawn Carden: 950,000 shares directly owned and controlled FOUNDERS SHARES
First Canadian Capital Corp: 500,000 shares directly owned and controlled at $.10 via TSXV
Total Direct ownership by Melrose Ventures Group Joint Actors: 8,286,767 shares, approximately
11.33% of the 73.15MM issued & outstanding shares
Indirect
Intelligent Payment Processing Inc:
29.95% of Uptempo Incs 17,420,243 shares = 5,217,362- FOUNDERS SHARESShawn Carden:
8.58% of UpTempo Incs 17,420.243 shares = 1,494,647- FOUNDERS SHARESTotal indirect ownership by Melrose Ventures Group Joint Actors:6,712,018 shares approximately
9.2% of the 73.15MM issued & outstanding shares
Total Direct and Indirect Ownership
20.53%
3.2 Ownership or control: The acquiror and joint actors have acquired ownership and control over the securities.
3.3 Securities lending arrangement: Not applicable.
3.4 Securities and security holding percentage before and after the transaction:
Direct
Melrose Venture Group of Joint Actors: 0 shares (prior to the takeover)
Intelligent Payment Processing Inc: 6,836,767 shares directly owned and controlled FOUNDERS SHARES
Shawn Carden: 950,000 shares directly owned and controlled FOUNDERS SHARES
First Canadian Capital Corp: 500,000 shares directly owned and controlled at
$0.10 CAD purchase price via TSXVTotal Direct ownership by Melrose Ventures Group Joint Actors: 8,286,767 shares, approximately
11.33% of the 73.15MM issued & outstanding shares
Indirect
Intelligent Payment Processing Inc:
29.95% of Uptempo Incs 17,420,243 shares = 5,217,362- FOUNDERS SHARESShawn Carden:
8.58% of UpTempo Incs 17,420.243 shares = 1,494,647- FOUNDERS SHARESTotal indirect ownership by Melrose Ventures Group Joint Actors:6,712,018 shares approximately
9.2% of the 73.15MM issued & outstanding shares
Total Direct and Indirect Ownership
20.53%
3.5 Ownership and control details:
Direct
Melrose Venture Group of Joint Actors: 0 shares (prior to the takeover)
Intelligent Payment Processing Inc: 6,836,767 shares directly owned and controlled FOUNDERS SHARES
Shawn Carden: 950,000 shares directly owned and controlled FOUNDERS SHARES
First Canadian Capital Corp: 500,000 shares directly owned and controlled
Total Direct ownership by Melrose Ventures Group Joint Actors: 8,286,767 shares, approximately
11.33% of the 73.15MM issued & outstanding shares
Indirect
Intelligent Payment Processing Inc:
29.95% of Uptempo Incs 17,420,243 shares = 5,217,362- FOUNDERS SHARESShawn Carden:
8.58% of Uptempo Incs 17,420.243 shares = 1,494,647- FOUNDERS SHARESTotal indirect ownership by Melrose Ventures Group Joint Actors:6,712,018 shares approximately
9.2% of the 73.15MM issued & outstanding shares
Total Direct and Indirect Ownership
20.53%
3.6 Related financial instrument: Not applicable.
3.7 Securities lending arrangement: Not applicable.
3.8 Agreement, arrangement, or understanding altering economic exposure: Not applicable.
Item 4 Consideration Paid
4.1 Value of consideration paid:
Intelligent Payment Processing Inc: 6,836,767 Founders shares (ownership and control)
Shawn Carden: 950,000 shares (ownership and control)
First Canadian Capital Corp: 500,000 shares (ownership and control)
4.2 Nature and value of consideration: FOUNDERS SHARES & TSX stock exchange.
4.3 Method of acquisition or disposition: Purchase of shares through a takeover bid.
Item 5 Purpose of the Transaction
Purpose: To acquire a controlling interest in Hank Payments Corp and to build back the business and its share value.
Plans or future intentions:
Acquisition of additional securities: Yes, to bring the stake above
51% .Corporate transaction: Not specified.
Sale or transfer of assets: Not specified.
Change in board of directors or management: Not specified.
Material change in capitalization or dividend policy: Not specified.
Material change in business or corporate structure: Not specified.
Change in charter, bylaws, or similar instruments: Not specified.
Delisting of securities: Not specified.
Issuer ceasing to be a reporting issuer: Not specified.
Solicitation of proxies: Not specified.
Other actions: Not specified.
Item 6 Agreements, Arrangements, Commitments or Understandings With Respect to Securities of the Reporting Issuer
Material terms of agreements, arrangements, commitments, or understandings:
Intelligent Payment Processing Inc: 6,836,767 shares
Shawn Carden: 950,000 shares
First Canadian Capital Corp: 500,000 shares
Item 7 Change in Material Fact
Not applicable.
Item 8 Exemption
Not applicable.
Item 9 Certification
The acquiror must certify that the information in this report is true and complete in every respect. In the case of an agent, the certification is based on the agents best knowledge, information, and belief but the acquiror is still responsible for ensuring that the information filed by the agent is true and complete.
Certification: I, as the acquiror, certify, or I, as the agent filing this report on behalf of an acquiror, certify to the best of my knowledge, information, and belief, that the statements made in this report are true and complete in every respect.
Date: November 4, 2024
Signature:
MCT
Name/Title:
Michael C Trimarco
Principal
Melrose Ventures LLC
Intelligent Payment Processing Inc
Contact Information:
Michael Trimarco - Principal Melrose Ventures & Intelligent Payment Processing
Phone: 516-848-3388
SOURCE: Melrose Ventures LLC
View the original press release on accesswire.com
FAQ
What is Melrose Ventures' current ownership percentage in Hank Payments (HNKPF)?
What is the minimum number of shares Melrose Ventures aims to acquire in Hank Payments (HNKPF)?
Who are the joint actors in Melrose Ventures' takeover bid for Hank Payments (HNKPF)?
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