Katipult Receives Additional Support to Propel Digital Private Capital Network

Rhea-AI Summary

Katipult secures $160,000 in funding from NRC IRAP to support research and development for DealFlow Mesh.

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• Katipult receives additional $160,000 funding from NRC IRAP to develop DealFlow Mesh, a private capital network. This underscores their commitment to revolutionizing capital markets through technology solutions.

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• None.

Calgary, Alberta--(Newsfile Corp. - October 5, 2023) - Katipult Technology Corp. (TSXV: FUND) ("Katipult" or the "Corporation"), a leading Fintech provider of software for powering the exchange of capital in equity and debt markets, is pleased to announce it has secured an additional $160,000 in conditional funding and advisory services from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support its research and development efforts for DealFlow Mesh, a fully integrated private capital network.

Building upon the NRC IRAP funding of up to $350,000 in 2022, this additional financial support for the period of September 2023 to March 2024 underscores Katipult's commitment to revolutionizing capital markets through cutting-edge technology solutions.

DealFlow Mesh is poised to redefine the private capital landscape by empowering investment dealers and wealth management firms to seamlessly coordinate in real-time and syndicate deals. Creating a network of investment firms will enhance the efficiency of Canada's capital markets, stimulate capital flow, and increase the accessibility of alternative investment deal opportunities.

"We are delighted to receive continued support from NRC as we work towards digitizing and connecting the investment capital landscape. As investors increasingly expect frictionless experiences, and investment dealers strive for efficiency, DealFlow Mesh will usher in a new era of connectivity and increased deal participation," stated Gord Breese, CEO of Katipult.

"With a solid foundation of investment dealers leveraging our platform, we are well-positioned to extend our impact beyond individual companies and enhance the entire ecosystem at scale. This additional grant reaffirms our commitment to breaking down silos and advancing the industry," continued Breese.

About Katipult

Katipult (www.katipult.com) is a provider of industry-leading and award-winning software infrastructure for powering the exchange of capital in equity and debt markets. Our cloud-based solution and solutions digitize investment workflow by eliminating transaction redundancy, strengthening compliance, delighting investors, and accelerating deal flow. Katipult provides unparalleled adaptability for regulatory compliance, asset structure, business model and localization requirements.

Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the creation of a private capital network, market adoption of a private capital network, and benefits to the capital markets constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company will be able to successfully create a private capital network, establish a market demand for the product, and increase revenue. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the Company will not be able to create a private capital network, establish a market demand, or successfully grow revenues. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Katipult Technology Corp.

For further information: Katipult Technology Corp., Gord Breese, CEO, gbreese@katipult.com, +1 (604) 760-4000

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183028

FAQ

What is the funding amount secured by Katipult?

Katipult has secured an additional $160,000 in funding from NRC IRAP.

What is DealFlow Mesh?

DealFlow Mesh is a fully integrated private capital network developed by Katipult.

What is the purpose of the funding?

The funding will support Katipult's research and development efforts for DealFlow Mesh.

What is the total funding received from NRC IRAP?

Katipult has received up to $350,000 in funding from NRC IRAP in 2022 and an additional $160,000 in 2023.

What are the expected benefits of DealFlow Mesh?

DealFlow Mesh aims to enhance the efficiency of Canada's capital markets, stimulate capital flow, and increase the accessibility of alternative investment deal opportunities.