2022-06-21 | TSX:NPF.U | Press release
HURST, Texas, June 21, 2022 (GLOBE NEWSWIRE) — NextPoint Financial Inc. (TSX: NPF.U, NPF.WT.U) (“Next point” or the “Company”) announces the cancellation of NextPoint’s annual meeting of shareholders (the “Meeting”) scheduled for Wednesday, June 22, 2022.
Further to the Company’s press release dated May 25, 2022, the Company has not yet provided its shareholders present at the meeting with the audited consolidated financial statements of the Company for the year ended December 31, 2021 (the “financial state”), as required by applicable company law.
Accordingly, the Company has decided to cancel the Meeting and will set a date for its annual meeting of Nextpoint shareholders when the financial statements are available. The Company will deliver a new notice, information circular and proxy to its shareholders with respect to the new meeting and applicable corporate and securities laws. Further details will be provided in a subsequent press release.
Strategic changes in LoanMe’s business
Given current market conditions, the Company announces that LoanMe, Inc. (“Lend me”), a subsidiary of the Company, will cease making loans. As a result, LoanMe has reduced its staff and will continue to service outstanding loans that were previously issued. The Company has decided to make these strategic changes to LoanMe’s business to better reflect NextPoint’s areas of interest and growth and to take into account existing market dynamics.
About NextPoint Financial Inc.
NextPoint is an all-inclusive marketplace for financial services that empowers hard-working, underserved consumers and small businesses. NextPoint was formed by the July 2021 combination of Liberty Tax, a leading provider of tax preparation services, with LoanMe, an online lender and loan distributor, followed by the December 2021 acquisition of Community Tax , an effective advocate for tax debt settlement on behalf of clients. .
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