MRBLF - Marble Secures Licensing Agreement with Lendforall.ca for its Proprietary Marble Connect API and Announces Non-Brokered Private Placement
(TheNewswire)
- Lendforall is the firstlending services marketplace to integrate the Marble ConnectAPI -
Vancouver, BC. - TheNewswire- November 10, 2021 - Marble Financial Inc.(CSE:MRBL ) ( OTC:MRBLF ) ( FSE:2V0) (CNSX:MRBL.CN) ("Marble" orthe "Company"), an AI-driven financial technology company,is pleased to announce that the Company has entered a licensingagreement with Lendforall.ca (“Lendforall”), a leading businessand consumer loan provider based in Canada.
Lendforall is the first in Canada to offer loanmatching services that implement artificial intelligence, in whichapplicants are connected to numerous lenders and financialinstitutions. Under the terms of the licensing agreement withLendforall for its Marble Connect, the Company’s proprietary APIwill enable Lendforall to gain valuable insight and data on their userbase to provide financial rehabilitation for sub-prime customers.Additionally, Lendforall will be empowered to produce more accuratematching results for their customers and lending product providers. Asa result, Lendforall’s platform alongside Marble Connect willprovide greater long-term value for their customer base, leading toincreased brand loyalty and high customer retention.
Upon the integration of the Marble Connect API withLendforall’s platform, Marble expects to gain roughly 5000 newMarble members monthly, along with access to their customers’ fullfinancial credit and banking data. Marble will then be able tomonetize this data by incorporating it into Inverite’s advanced riskscore platform to determine what Marble solutions (Secured FutureCredit Plan, Boost, Fast-Track, etc.) are the best fit for thecustomers, based on their financial standing. Overall, the agreementrepresents the first marketplace website within the alternativelending space to integrate Marble Connect.
" The Canadian alternativefinancial services industry offers lucrative opportunities that wewant to capitalize on, and this agreement allowsus to continue expanding within the lending sector," said DougTanner, Marble's VP of Business and Corporate Development. "Ouradvanced technology coupled with Lendforall’s products will resultin a robust and comprehensive offering that will be beneficial forboth business and consumer applicants, resulting in significant valuecreation for their customer base."
Marble Connect is expected to go live on Lendforall’splatform in the first quarter of 2022.
The Company is also pleased to announce that it intendsto conduct a non-brokered private placement of up to 11,538,462 unitsof the Company (“ Units ”) at a price of $0.13 per Unit foraggregate gross proceeds of up to$1,500,000 (the “ Proposed Offering ”). Each Unit will be comprised of one common share of theCompany (“ CommonShares ”) and one half ofone Common Share purchase warrant, with each whole warrant (a“Warrant”) entitling the holder thereof to acquire one CommonShare at a price of $0.15 per Common Share for a period of 12 monthsfrom the closing date of the Proposed Offering. The Units (includingthe underlying securities) will be subject to a hold period of fourmonths plus one day following the closing of the ProposedOffering.
Any net proceeds received by the Company from theProposed Offering are intended to be used to help fund (a) sales andmarketing programs for Marble Connect, (b) further development andlaunch of Credit Beacon and Credit Meds on the MyMarble platform. (c)development and launch of the MyMarble Mobile App. (d) expansion ofthe MyMarble Platform through its existing partnership agreements inthe USA market, and (e) general working capital and corporatepurposes.
In connection with the Proposed Offering, the Companymay pay certain finder’s fees, subject to compliance with applicablesecurities laws and the rules and regulations of the Canadian StockExchange (“ CSE ”)
The securities have not been, and will not be,registered under the United States Securities Act of 1933, as amended(the “ 1933 Act ”), or any state securities laws and may not be offered orsold in the United States or to, or for the account or benefit of,U.S. persons (as defined in Regulation S under the 1933 Act), exceptpursuant to an exemption from the registration requirements of thoselaws. This press release shall not constitute an offer to sell or thesolicitation of an offer to buy securities in the United States, orfor the account or benefit of U.S. persons (as such term is defined inRegulation S under the 1933 Act).
The Company further announces that it has granted50,000 restricted stock units to a consultant of the Company.
About Lendforall: LendforAll’s mission is to help Canadian consumers andbusinesses achieve financial goals via a Lending Platform that issafe, secure, and a loan application process that’s seamless, simpleand easy to use. Their Artificial Intelligence platform essentiallydoes all the work for you. Additionally, our lending platformminimizes and, in most cases, eliminates thepossibility of a loan application being declined and with the highestprobability for approval.
For further information, please visit Lendforall’swebsite at lendforall.ca
About Marble Financial Inc. (CSE:MRBL; OTC: MRBLF; FSE:2V0) Marbles’proprietary MyMarble platform utilizes the power ofmachine learning, data science, and artificial intelligence, inleveraging its proven data-driven strategies through technologysolutions Connect, Inverite, Score-Up, Fast Track, Maestro and Boostto engage in and navigate a clear path towards financial wellbeing anda meaningful credit score, since 2016, Marble is proud to haveempowered thousands of marginalized consumers to a positive financialfuture, and we continue to establish ourselves as leaders in financialwellness through the licensing of our proprietary products on the MyMarble Platform.
For further information about Marble Financial, pleasevisit: mymarble.ca
Mike Marrandino, Executive Chairman
T:(855) 661-2390 ext. 104 Email: ir@marblefinancial.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-looking statements.Forward-looking statements, including withrespect to the Company’s intention or ability to complete theProposed Offering, the timing of closing the Proposed Offering and theintended use of proceeds from the Proposed Offering Forward-looking statements, without limitation, may containthe words beliefs, expects, anticipates, estimates, intends, plans, orsimilar expressions. Forward-looking statements do not guaranteefuture performance. They involve risks, uncertainties and assumptionsand actual results could differ materially from those anticipated.Forward looking statements are based on the opinions and estimates ofmanagement at the date the statements are made and are subject to avariety of risks and uncertainties and other factors that could causeactual events or results to differ materially from those projected inthe forward-looking statements. Except for historical facts, thestatements in this news release, as well as oral statements or otherwritten statements made or to be made by Marble, are forward-lookingand involve risks and uncertainties. The forward-looking informationincluded in this release is expressly qualified in its entirety bythis cautionary statement. Accordingly, readers should not place unduereliance on forward-looking information. The Company undertakes noobligation to update these forward-looking statements, other than asrequired by applicable law.
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