Peppermint to progress to Stage 3 of EMI licence application process

Peppermint received some exciting news overnight – that we can progress to Stage 3 of our Electronic Money Issuer (EMI) licence application process.

The Company had requested, via our Stage 2 EMI application process, a ‘Letter of No Objection’ from the Central Bank of the Philippines (BSP) to register with the Securities and Exchange Commission (SEC) for authority to operate as an electronic money issuer (EMI), and this has now been granted.

This is a significant achievement for Peppermint.

An EMI licence will allow Peppermint to enable the bizmoto platform to process digital money transactions and offer a range of digital money services, such as interbank payments, transfers and remittance, to any of the circa 110 million Filipino people.

We will now lodge the regulatory paperwork for Stage 3 of the EMI application process, with a view to being granted an EMI licence by the BSP.

Last night’s exciting news came on the back of yesterday’s successful capital raise which saw $4 million committed in a share placement to sophisticated and professional investors.

The placement was a A$0.02 per share with one attaching option – exercisable at A$0.03 on or before 30 June 2023 – for every three shares held. The Company intends to seek quotation of the options, subject to meeting ASX requirements.

“Along with this funding, the Company also wanted to reward our existing shareholders by offering them an opportunity to receive an option (for every 10 shares held) exercisable at A$0.02, which if exercised then receive another option exercisable at A$0.03 per share expiring on 30 June 2023.”

Further details about the Bonus Options Entitlements will be provided in due course when the required prospectus is completed in the next few weeks.

Read the full ASX Announcement