MRBLF - Marble Launches Personal Financial Wellness Platform 'MyMarble' with Mortgage Approval Help
(TheNewswire)
Vancouver, B.C – TheNewswire - APRIL 08, 2021 – Marble Financial Inc.(CSE:MRBL ) ; (CNSX:MRBL.CN); ( OTC:MRBLF ) ; ( FSE:2V0) (“Marble” or the “Company”), an AI-driven financial technology company thateducates and helps Canadians better understand and manage theircurrent cash flow and credit towards a better financial future, ispleased to announce a referral agreement with Mortgage Approval Help(“MAH”) offering its consumers, Marble’s AI-driven financialwellness SAAS platform, MyMarble .
Marble, a leading financial technology innovator, isannouncing a new referral program with MAH, a subsidiary of Home OwnerSoon Financial Inc. MAH is a Canadian Fintech that helps consumersunderstand their financial situation and then connects them withmortgage lending partners who can best match their criteria to asolution at the best rates available. Since 2012, MAH has helpedthousands of Canadians to achieve homeownership through theirrevolutionary Mortgage Comparison Platform. Access to such amotivated consumer base presents a sizeable new growth channel ofopportunity for Marble to empower Canadians using its holisticpersonal finance fintech solution that provides precise expert curatedrecommendations, insights, and financial literacy.
Despite the economic impact of the COVID-19 pandemic,Canada’s home sales reached a new all-time record in February 2021,up 25% from the previous year, according to the Canadian Real EstateAssociation (1) . With an increase in demand and desire for homeownership,there is an increasing need for companies like MAH to help find thebest products and providers to reach their goals. Solutions like MyMarble will help strengthen MAH customerswith their future financial outlook when seeking the best ratesavailable.
This engagement will utilize MAH's proprietary Mortgagecomparison platform to provide any Canadian, regardless of theircredit score or financial history, the best possible option. With suchan extensive database of consumers that will have the potential toachieve lower mortgage rates combined with segmentation algorithms andfinancial data, MAH will build high-value audience groups perfectlysuited for MyMarble’s Premium subscription . With the utilization of Premium’s AI-powered recommendations, creditimprovement, coaching and budgeting technology, MyMarble can help MAH consumers achieve the level of financialfitness level to qualify for a financing product much sooner.
"We are very pleased to be launching MyMarble with MAH, an innovation leader within the mortgagecomparison space," says Marble Director of Marketing, RichElliott. "This exciting new partnership will introduce a highnumber of potential consumers to our platform and strategically alignswith our mission of helping the underserved population of Canadianconsumers."
“Having MyMarble available toclients in our Network allows us to provide more Options for consumerswhen they need it most, while on their Path to Home Ownership” saysDale Tidd, Director of Marketing for MAH. “We understand everyconsumer starts their path to homeownership at a different point. MAHhas a mission to ensure no client is left behind. While we may not beable to place every consumer into a mortgage product today, our goalis to provide solutions through support from valued partners likeMarble and ensure everyone can be on a path today, which leads tohomeownership in the future”. Terry Hepditch, Director of Marketingfor Home Owner Soon Financial, adds “Our Network provides clientsaccess to Alternative Financing Solutions which may not be readilyavailable elsewhere. Our Solutions based approach and partnership with MyMarble will enable MAH and Home Owner SoonFinancial Inc to help more clients achieve their financial goals,today and in the Future”
The Company is pleased toannounce the closing of a non-brokered private placement ofC$1,303,000 in principal amount of unsecured convertible debentures(the “ Debentures ”) for gross proceeds of C$1,303,000 (the “ Private Placement ”). Directors of the Companypurchased $300,000 of Debentures.
The Debentures have a 15-month term and will accrueinterest at a simple rate of 10% per annum, payable semi-annually notin advance. The principal amount of the Debentures will beconvertible, at the option of the holder, into units (“ Units ”) of theCompany at a price of $0.30 per Unit. Each Unit will becomprised of one common share of the Company (each an “ Underlying Share ”) and one-half ofone non-transferable common share purchase warrant, with a wholewarrant (each a “ Warrant ”)entitling the holder to acquire one common share (a “ Warrant Share ”) at a price of$0.45 for a period of 21 months from Closing. If, at any time afterthe date that is four months and one day after Closing, theCompany’s common shares have traded or closed at a price of $0.60 ormore for 10 consecutive trading days on the CSE (or such other stockexchange where the majority of trading volume occurs), the Company hasthe right, in its sole discretion, to force the conversion of all orany part of the principal amount of the Debentures into Units at aprice of $0.30 per Unit by giving notice via news release. At any time after the date that is 12 months after Closing,the Company may, by providing written notice to a holder, repay all orany part of the principal amount of a Debenture withoutpenalty.
The net proceeds from the Private Placement will beused to fund the acquisition of Inverite Verification Inc. (see newsrelease dated January 18, 2021), which the Company expects to close inthe next few days, and to fund the ongoing development of the MarblePlatform as well as for general working capital and other corporatepurposes. In connection with the Private Placement, the Company paidan aggregate of $40,150 in finder fees and issued an aggregate of133,832 finder warrants exercisable to purchase a common share at aprice of $0.30 for a period of 15 months following Closing, subject toacceleration on the occurrence of certain events. All securitiesissued will be subject to a four month and one day hold period fromthe date of Closing.
The participation by the directors in the PrivatePlacement constitutes a "related party transaction" withinthe meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders inSpecial Transactions (" MI 61-101 ") and the policies ofthe CSE. The Company is relying upon the exemptions from the formalvaluation and minority shareholder approval requirements pursuant tosections 5.5(a) and (b), and 5.7(1)(a), respectively, of MI 61-101 onthe basis that neither the fair market value of the subject matter of,nor the fair market value of the consideration for, the transactioninsofar as it involves interested parties (within the meaning of MI61-101) in the Private Placement exceeds 25% of the Company's marketcapitalization calculated in accordance with MI 61-101, and on thebasis that no securities of the Company are listed or quoted on astock exchange as specified in MI 61-101.
ON BEHALF OF THE BOARD OFDIRECTORS
Karim Nanji, CEO
About Mortgage Approval Help - MortgageApprovalHelp.ca is not a lender ormortgage brokerage. We are not confined or shackled to any specificlending sources. We are not run or controlled by the big banks.Instead, think of Mortgageapprovalhelp.ca as a portal that gets tounderstand your situation and then connects you with lending partnerswho can best match your criteria to a solution at the best ratesavailable. Our Network has the resources to find The BEST MortgageRates and Solutions for almost all inquiries, situations, andchallenges. Our Corporate Mission is to help every Canadian in needget the Solution they deserve…No client gets left behind! You’rejust a few clicks away from an Extensive Network of Residential andCommercial solutions.
For further information, please visit the company’swebsite at https://mortgageapprovalhelp.ca/
About Marble Financial Inc. (CSE:MRBL; OTC: MRBLF; FSE:2V0) Marble’sproprietary MyMarble platform utilizes the power ofmachine learning, data science, and artificial intelligence, inleveraging its proven data driven strategies through technologysolutions Fast-Track, Score-Up, and Maestro to engage in and navigatea clear path towards financial wellbeing and a meaningful creditscore. Since 2016, Marble is proud to have empowered thousands ofmarginalized consumers to a positive financial future, and we continueto establish ourselves as leaders in financial wellness through thelicensing of our proprietary products on the MyMarble Platform.
For further information, please visit the company'swebsite at https://mymarble.ca
Mike Marrandino, ExecutiveChairman
T:(855) 661-2390 ext. 104 Email: ir@marblefinancial.ca
(1) Source: https://creastats.crea.ca/en-CA/
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITSREGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITYFOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward-LookingInformation
This release contains "forward-lookinginformation" as such term is used in applicable Canadiansecurities laws, including statements regarding Mortgage ApprovalHelp, the Offering and the use of proceeds therefrom. The use of anyof the words "target", "plans","anticipate", "continue", "estimate","expect", "may", "will","project", "should", "believe" andsimilar expressions are intended to identify forward-lookingstatements. Such forward-looking information is based on management'sexpectations and assumptions, including statements relating to theCompany's plans to conduct the Private Placement and the anticipateduse of the proceeds of the Private Placement.
In making the forward-looking statements included inthis news release, the Company has applied several materialassumptions, including but not limited to, that the Company'sfinancial condition and development plans do not change as a result ofunforeseen events, and that the Company will receive all requiredregulatory approvals, including Canadian Securities Exchange approval,for the Private Placement. Forward-looking information is subject to avariety of risks and uncertainties and other factors that could causeplans, estimates and actual results to vary materially from thoseprojected in such forward-looking information. Factors that couldcause the forward-looking information in this news release to changeor to be inaccurate include, but are not limited to: failure of thePrivate Placement to be arranged on the proposed terms or at all;unanticipated delays in obtaining or failure to obtain regulatory orCanadian Securities Exchange approvals; general economic, market orbusiness conditions; changes in the Company's financial condition anddevelopment plans; and other risks and uncertainties as set forth inthe Company's most recent continuous disclosure filings filed underthe Company's profile at www.sedar.com .
Although the Company has attempted to take into accountimportant factors that could cause actual costs or results to differmaterially, there may be other factors that cause actual results notto be as anticipated, estimated or intended. There can be no assurancethat such statements will prove to be accurate as actual results andfuture events could differ materially from those anticipated in suchstatements. The forward-looking information included in this releaseis expressly qualified in its entirety by this cautionary statement.Accordingly, readers should not place undue reliance onforward-looking information. The Company undertakes no obligation toupdate these forward-looking statements, other than as required byapplicable law.
THIS NEWS RELEASE DOES NOT CONSTITUTEAN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THESECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILLNOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, ASAMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIESLAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TOU.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT ANDAPPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCHREGISTRATION IS AVAILABLE.
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