Calgary, Alberta / January 23, 2024 – TheNewswire - Credissential Inc. (“Credissential” or the “Company”) (CSE: WHIP) (OCT: IPTNF) (FSE: 9YZ), a vertically integrated AI software development company, is pleased to provide an update on the purchase of Ripple (XRP) and Stellar (XLM), as part of its strategic efforts to create shareholder value under its newly adopted cryptocurrency policy (the “Policy”).

 

The Company will begin by allocating up to $500,000 from its cash reserves held in its Canadian accounts to purchase XRP and XLM. This move reflects the company's belief in the potential of XRP and XLM to provide an attractive return on investment for shareholders.

 

It is expected that the purchases will be facilitated through BitBuy. The Company expects that the planned transactions are fully compliant with all relevant Canadian financial regulations. The purchase(s) will take place throughout the month of January 2025, and into early Q3 2025.

 

“At Credissential, we are committed to innovative treasury management strategies that drive long-term shareholder value," said Colin Frost, CEO of Credissential. "The potential addition of XRP and XLM to our portfolio reflects our confidence in their utility and growth potential, particularly given recent regulatory clarity around XRP and XLM's increasing adoption in cross-border payments. These assets align with our diversification goals and represent an exciting step forward in leveraging blockchain technology for value creation”.

 

The Company will provide further information relating to the initial purchases of XRP and XLM under the Policy. Any cryptocurrencies purchased will be purchased using the Company’s cash reserves. The holding of any cryptocurrencies will be done with strict adherence to relevant laws and the Policy. The Company believes that the planned acquisition of XRP or XLM will enhance shareholder value and diversify the Company’s current treasury. The Company anticipates purchasing cryptocurrency, if any, through its wholly owned subsidiary PACT Cloud Ltd.

 

The Company believes that the Policy aligns with the Company's commitment to exploring innovative ways to navigate inflationary pressures while delivering long-term value for its shareholders. The Company will continue to monitor market conditions and may increase or decrease its holdings of XRP or XLM as it deems appropriate.

 

RSU Issuance

 

The Company also announces the issuance of 2,000,000 Restricted Share Units ("RSUs") of the Company to certain consultants pursuant to its RSU Plan adopted by the shareholders on February 23, 2024. The RSUs will vest immediately and are subject to a four month and one day hold period.

 

Investor Relations Activities

 

The Company also announces that it entered into an agreement with 1822053 Alberta Ltd. (d/b/a Evolux Capital) ("Evolux") to provide marketing services to the Company. The services are expected to include the creation and distribution of social media advertising, development and implementation of communications strategies, assisting with brand development, and coordinating with social media and advertising partners.

 

Evolux is an arm's-length marketing firm and has been engaged for an initial six-month term ending July 22, 2025 for total consideration of $130,000 (plus applicable taxes) which is payable upfront. The Company does not propose to issue any securities to Evolux in consideration for the services to be provided to the Company. Evolux can be contacted at (evoluxcapital@gmail.com) or 126 Mitchell Crescent, Blackfalds, Alberta, T4M 0H6.

The Company also announces it has entered into an agreement with Market One Media Group Inc. (“Market One”) to provide marketing services to build online presence to the Company. The term of the engagement is for a period of twelve months. Market One and its principals are arm’s length to the Company. The Company will pay to Market One C$150,000 (plus applicable taxes), which is payable upfront. The Company does not propose to issue any securities to Market One in consideration for the services to be provided to the Company. Market One can be reached at: Suite 320 - 440 West Hastings Street. Vancouver, BC V6B 1L1, Tel: (604) 428-2125, Email: info@marketonemediagroup.com.

 

About Credissential

 

Credissential is an AI powered financial services software developer, currently focused on the development and commercialization of its flagship products, Credissential, Dealerflow and Antenna.

For more information about Credissential and other products from Credissential, visit www.credissential.com.

ON BEHALF OF THE BOARD OF DIRECTORS

 

Chief Executive Officer                Colin Frost

Head Office                         2004 Sherwood Drive Sherwood Park, AB T8A 0Z1

Telephone                         +1 (236) 513 4776

Email                                 info@credissential.com  

 

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

 

Forward-Looking Information

 

Certain information in this news release may constitute "forward-looking" information that involves known and unknown ‎risks, uncertainties, future expectations and other factors which may cause the actual results, performance or ‎achievements of the Company or industry results, to be materially different from any future results, performance or ‎achievements expressed or implied by such forward looking information. When used in this news release, this ‎information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other ‎terminology. This information reflects current expectations regarding future events and operating performance and ‎speaks only as of the date of this news release.‎ Forward-looking statements are inherently risky and the information and plans disclosed therein may not come to fruition as contemplated or at all.

 

Forward-looking statements in this news release include, but are not limited to, the expected results from the Policy, the purchase of XRP or XLM including the timing of the purchase (if any), the expected amount of XRP and XLM that will be purchased, the future roadmap and execution thereof, the expected development timeline for its product stack, including integration of new features and the future plans of the Company, business plans, objectives and strategy. Forward-looking statements are inherently risky and the information and plans disclosed therein may not come to fruition as contemplated or at all.

 

Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Corporation’s Management Discussion and Analysis, which can be found on SEDAR+ at www.sedarplus.ca.