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Eric Sprott Increases Investment in Exploits by $6.8m – TheNewswire.ca

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Vancouver, British Columbia – TheNewswireJuly 5th, 2021 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE:NFLD) (OTC:NFLDF) (FSE:634-FF) (CNSX:NFLD.CN) is pleased to announce Eric Sprott has increased his investment in the Company.

2176423 Ontario Ltd., a corporation which is beneficially owned by Eric Sprott, purchased on June 30, 2021, 6,783,700 common shares of Exploits Discovery Corp. (representing an increase of approximately 5.0 per cent of the outstanding shares on a partially diluted basis since the filing date of the most recent early warning report) at a price of $1 per share for aggregate consideration of $6,783,700 (the “Shares”). The Shares were purchased by way of private agreement with a single vendor at a price less than 115% of the “market price” of the Shares in reliance on the” private agreement exemption” in Section 4.2 of National Instrument 62-104 Take-Over Bids and Issuer Bids. 2176423 Ontario Ltd. is beneficially owned by Eric Sprott.

Mr. Sprott now beneficially owns and controls 21,450,367 Shares and 14,666,667 warrants representing approximately 21.3% of the outstanding Shares on a non-diluted basis and approximately 31.3% on a partially diluted basis assuming the exercise of such warrants. Prior to this acquisition, Mr. Sprott beneficially owned and controlled 14,666,667 Shares and 14,666,667 warrants of the Company (representing approximately 14.6% on a non-diluted basis, and 25.4% on a partially diluted basis).

The Shares were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Exploits Discovery. including on the open market or through private acquisitions or sell securities of Exploits Discovery. including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Exploits Discovery Corp. is located at 3043-595 Burrard Street, Vancouver B.C. V7X 1J1. A copy of 2176423 Ontario’s early warning report will appear on Exploits Discovery’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and may also be obtained by calling Mr. Sprott’s office (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

About Exploits Discovery Corp.

Exploits Discovery is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada. The Company currently holds the Jonathan’s Pond, Dog Bay, Mt. Peyton, Middle Ridge, True Grit, Great Bend, and Gazeebow projects covering approximately 2,000 square kilometres of mineral tenements. The PB Hill project syndicate covers an additional area of almost 2,000 square kilometres.

With five permitted drill targets, ample cash reserves, a drill working and committed through the 2021 season, Exploits is positioned for discovery.

Exploits believes that the Exploits Subzone Gold Belt, which runs 200 km from Dog Bay southwest to Bay d’Espoir, has been neglected since the last major exploration campaigns in the 1980s. The last 40 years have seen incremental advancements in the understanding of gold mineralization in the camp. The sum of this knowledge is now coming together in discrete and effective exploration models that have delivered results including New Found Gold’s 2019 discovery hole. The Exploits Subzone and GRUB regions have been the focus of major staking and financing since late 2019. 

The team at Exploits, with significant local experience and knowledge, have studied the entirety of the Exploits Subzone and surrounding regions, and have picked individual land packages for staking or joint ventures, where there are opportunities for world class discoveries and mine development. Exploits intends to leverage its local team and the larger shift in geologic understanding and become one of the most extensive explorers in the Exploits Subzone.

ON BEHALF OF THE BOARD 
/s/ “William M. Sheriff ” 
Interim President and CEO 

For further information, please contact: 
Christopher Huggins, Director 
Tel: (778) 819-2708

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release. 

Forward-Looking Statements 

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law. 

 

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Montreal investment fund sued over use of founder's great-great-grandfather's name – Montreal Gazette

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The Holt Xchange, which invests in early stage financial technology startups, is being sued by Credit Suisse for trademark violation.

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Brendan Holt Dunn said he wanted to invoke the legacy of his great-great-grandfather, pioneering Quebec industrialist Sir Herbert Holt, in the name of his Montreal-based venture capital fund.

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Now, he may have to go to court to keep the name.

His fund, the Holt Xchange, which invests in early stage financial technology startups, is being sued by international bank Credit Suisse for trademark violation.

In a statement of claim filed last year with Federal Court in Edmonton, Credit Suisse subsidiary CSFB HOLT said it owns the right to use the brand “HOLT” when offering financial goods and services in Canada and that the branding and offerings of the Montreal venture capital fund — known as the Holt Accelerator when the lawsuit was filed — is too similar.

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The bank, which is seeking at least $100,000 in damages, argues that similarity “will cause confusion amongst Canadian consumers” and reduce the value and reputation of its trademark.

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Dunn said he doesn’t think there’s a risk of confusion.

“We’re in different areas, the financial sector as a whole is very broad,” he said, adding that he’d never heard of Credit Suisse’s HOLT brand before being sued.

“I think what they’re worried about is that our name, our family’s name is better known than them in Canada,” he said in an interview last week. “There is absolutely no overlap.”

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Elisabeth Laett, managing partner at the Holt Xchange, said the decision to use the Holt family name when the fund launched in 2018 was a reference to the history of Montreal’s financial sector and the fund’s ambitions to help make Quebec a hub for a new generation of financial technology companies.

“We were the financial hub of Canada, in Montreal, at one point,” she said.

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When Herbert Holt died in 1941, he was described as the richest man in Canada. A railway engineer who helped build the Canadian Pacific Railway, he was knighted for his work planning railways in France during the First World War. He later consolidated several power companies in the Montreal area — which would eventually be expropriated to create Hydro-Québec — and was president of the Royal Bank of Canada from 1908 to 1934.

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Holt was also a controversial figure in Montreal at a time when many French-speaking Quebecers resented the city’s English-speaking business elite.

In court filings, the Holt Xchange maintains the Holt name has been used by generations of family members when offering financial goods and services in Canada. It has also filed a counter claim seeking to have Credit Suisse’s HOLT trademark struck down.

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Credit Suisse’s HOLT brand comes from the name of a United States-based financial consulting firm acquired by the bank in 2002 and is an acronym based on the letters of the last names of consulting company’s founders. The bank, which filed an application to register the “HOLT” trademark in Canada in 2006, sells software used to value companies, as well as offering consulting services and investment products, under the HOLT name.

Whether consumers would interpret “Holt” in the name of the Montreal venture capital fund as a reference to the Holt family is one of the issues being disputed in court filings.

Teresa Scassa, the Canada Research Chair in information law and policy at the University of Ottawa’s law faculty said the courts look at several factors when evaluating the possibility of confusion in trademark cases “including how long each name or mark has been in use, and how similar the goods and services are, and the way in which they’re marketed or sold.”

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While the Trademarks Act allows people to use their own names as trade names, she said that defence has “been interpreted fairly narrowly,”

“For example, someone named McDonald is not prevented from using their name in business and if they open a burger stand, they’re not prevented from using their name in their family business to sell burgers, but they can’t just call it McDonald’s,” she said. Instead they have to make it clear it’s a different business.

Credit Suisse spokesman Jonathan Schwarzberg declined to comment on the case, saying the bank can’t say anything publicly beyond what’s in court filings. No trial date has been set.

Dunn said the fund entered into negotiations with Credit Suisse after the lawsuit was filed and changed its name from Holt Fintech Accelerator to the Holt Xchange in the spring, a move he said he thought would satisfy the bank.

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He noted there are other companies using the name Holt.

“I don’t understand it,” he said. “It’s insulting and we’re obviously feeling like we’re being bullied. We’re a very successful family, but no family in the world can go up against a financial institution.”

Laett said the Montreal fund has built an international brand around its name, attracting interest from startups from around the world. “We’ve received roughly 3,000 applications to be part of Holt,” she said. “There is a tremendous momentum.”

Dunn said he’s not open to dropping “Holt” from the company’s name.

“It is my personal name and my family’s name and our family’s history and reputation in Canada,” he said.

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Canada Sets Plan to Merge Investment Regulators Into One Agency – Bloomberg

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Canada’s securities regulators plan to merge two industry groups that oversee financial advisers into a single organization, a move intended to address years of complaints about the overlapping roles and higher costs of the groups.

Provincial regulators published Tuesday a framework for how to combine the Investment Industry Regulatory Organization of Canada, which regulates investment advisory firms that sell a broad range of securities, with the Mutual Fund Dealers Association of Canada, which oversees firms that sell funds.

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Carlyle to Invest in Abrigo at $1 Billion-Plus Valuation – Bloomberg

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Abrigo, an Accel-KKR-backed software provider for financial institutions, has secured an investment from private equity firm Carlyle Group Inc.

The Austin, Texas-based company is valued at more than $1 billion after the investment, according to people with knowledge of the matter who asked not to be identified discussing private information.

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