VANCOUVER, CANADA, Voleo Trading Systems Inc. (TRAD: TSX-V, VLEOF: OTC-QB) (“Voleo”, the “Company”), is pleased to announce a pilot project with Haywood Securities (USA) Inc. and its parent company, Haywood Securities Inc. (collectively, “Haywood”) in which Voleo will deliver code to optimize data for tax reporting for Haywood’s US client base. Haywood is a leading independent broker-dealer that has over seven billion dollars in total assets under administration.
Haywood has identified an opportunity to improve operational efficiency and selected Voleo to implement a technology-driven solution which will enable Haywood to scale operations at lower cost. Pilot project completion is anticipated in Q2 2020. Voleo USA Inc is a FINRA member and broker dealer in the US that has developed software that allows for a seamless, paperless, onboarding experience through its web and mobile platforms. This pilot project is both a step towards additional collaboration opportunities and a demonstration of Voleo’s capabilities as a provider of technology solutions to the financial services industry.
Glen Wilson, Voleo Interim CEO states: “Through Voleo’s US subsidiary, Voleo has accumulated extensive experience in helping our clients meet their tax reporting obligations. These tools are in demand and we are pleased to apply our knowledge to assist Haywood in a digital transformation effort to improve efficiency. This contract is our first opportunity to collaborate with a Canadian independent broker-dealer to demonstrate the efficacy of our product for dealing with US clients, and we are aggressively pursuing additional opportunities to widen the breadth of the collaboration to demonstrate the full capabilities of the Voleo platform.”
Voleo continues to search for additional funding and or a strategic partner and will provide an update shortly.
Voleo also announces that Mr. Daniel Lee CPA, CA will be replacing Ms. Kate-Lynn Genzel as Chief Financial Officer of the Company as a result of her maternity leave.
Founded in 1981, Haywood Securities Inc. (HIS) is a 100 per cent employee-owned investment dealer with more than 300 employees in its Canadian offices in Vancouver, Calgary and Toronto. HSI is a member of the Toronto Stock Exchange, the TSX Venture Exchange, the Montreal Exchange (MEX), the Canadian Securities Exchange (CSE), the Canadian Investor Protection Fund (CIPF), and the Investment Industry Regulatory Organization of Canada (IIROC). Haywood Securities (USA) Inc. (HUSA), a wholly owned subsidiary, is a broker-dealer registered to transact securities business in the United States and is a member of the Financial Industry Regulatory Authority (FINRA).
About Voleo Trading Systems Inc.
Voleo is a mobile fintech company that is transforming the retail investing space through its powerful, collaborative investing platform. As the only social investing app and end to end investment club solution, Voleo has increased retail investor participation in the stock market by breaking down barriers to entry, facilitating trust and improving financial literacy. Voleo's equity trading platform operates on native iOS and Android devices, as well as a companion web application. The product is being white-labeled for financial institutions around the world as an innovative product to engage, retain and acquire retail customers.
About Voleo USA, Inc.
Voleo USA, Inc is a member of Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). Security products are not FDIC insured, not bank guaranteed, and will fluctuate in value. We do not solicit, recommend, or offer investment advice. Check the background of Voleo USA, Inc. on FINRA's BrokerCheck.
For more information on Voleo, please visit our Investor Relations website at ir.myvoleo.com.
ON BEHALF OF THE VOLEO BOARD
Interim Chief Executive Officer
|Voleo is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the technology, resource, aviation, and sectors.|
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Voleo Investor Relations
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to future events or Voleo Trading Systems Inc’s (the “Company”) future performance and the integration of cryptocurrency trading. All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Voleo believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this release should not be unduly relied upon. These forward-looking statements speak only as of the date of this release, or as of the date specified in the documents incorporated by reference into this release, as the case may be. In particular, this release contains forward-looking statements pertaining, but not limited to: expectations as to future operations of the Company, future market trends, growth opportunities, the Company’s go to market strategy, future partnerships, new initiatives and innovations of the Company, product offerings, the expected operations and performance of the Company’s business, expected user growth, and the timing of key development milestones.
With respect to forward-looking statements contained in this release, the Company has made assumptions regarding, among other thing: the accuracy, reliability and applicability of the Company’s business model; the timely receipt of governmental approvals, including the receipt of approval from regulators in Canada and the United States; the impact of COVID-19 on the Company’s operations; the timely commencement of operations by the Company and the success of such operations; the ability of the Company to implement its business plan as intended; the legislative and regulatory environments of the jurisdictions where the Company will carry on business or have operations; the impact of competition; and the availability of financing to execute the business plan. The Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release in order to provide investors with a more complete perspective on the Company’s current and future operations and such information may not be appropriate for other purposes.
The live Voleo platform is currently limited to U.S. residents. Investors should be aware that investing through clubs requires that members of a club vote in accordance with the conditions of their respective partnership agreements, and that other factors including platform performance, execution price, order and account access times are affected by many factors, including connectivity, market volatility, the size and type of order(s), market conditions, system performance, and other factors. Investors should carefully consider the risk profile of ETFs before investing in them, and read the prospectus from the issuer before investing in an ETF. Penny stocks may trade infrequently, which means that it may be difficult to sell penny stock shares once you own them. Moreover, because it may be difficult to find quotations for certain penny stocks, they may be difficult, or even impossible, to accurately price. For these, and other reasons, penny stocks are generally considered speculative investments. Consequently, investors in penny stocks should be prepared for the possibility that they may lose their whole investment.
Readers are cautioned that the foregoing lists of factors are not exhaustive and it would be unreasonable to rely on any such forward-looking statements and information as creating any legal rights, that the statements and information are not guarantees and may involve known and unknown risks and uncertainties, and that actual results may differ (and may differ materially) and objectives and strategies may differ or change from those expressed or implied in the forward-looking statements or information as a result of various factors. The forward-looking statements contained in this release are expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company is not under any duty and do not undertake any obligation to publicly update or revise any forward-looking statements after the date of this release or to conform such statements to actual results or to changes in the Company’s expectations and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.